Wrote a Call on MHK

Mohawk (MHK) has been falling steadily since the end of May.  I started with two naked puts at the July 65 strike (received $348.50) and chased the profit with two July 65 naked calls (received $148.50).  MHK kept falling, so when I charted it again yesterday afternoon to see where I thought support could be found.  All I could see was that it was at a hitting the trend line of lower lows and was at a 52 week low.  I expected a slight bounce, but not high enough to avoid being assigned the 200 shares from my naked calls on Friday, four days from then. 

The trend line of lower highs was coming in just above 60, so I entered a limit order to sell more naked calls while MHK was trading at 57.60.  Today, while MHK was trading at $59.94 I sold two MHK July 60 calls (MHKGL) and received $258.50 after commissions.  This brought my total premiums received up to $755.50.  If MHK is above $60.00 at the close on Friday I’ll be assigned 200 shares and will sell covered calls to bring my position back to a profit.  If MHK is above $60.00, I’ll take a $250 loss and move on.