$27.50 in the short term. after all, that would be a more than 10% move. at expiration, if the stock is still below $27.50, you keep the $90 you received by selling the calls and the 100 shares of stock. at that point, you might decide to write another call for a future month.
should the stock rise unexpectedly above $27.50, you will have two choices. you can either buy the calls back and keep the stock. or, you can let the stock be called away and sell your 100 shares (1 contract x 100 shares) at the strike price of $27.50. the good news, in this case, is that you 