Thinking of a BAC Covered Call

Yeah, financials are getting beat down with Bank of America leading the pack but it still looks like a good covered call to me.

It's currently at 5.57, with a March 6 stike selling at .9. This would give downside protection to 4.67, and a max profit of $109 for 1 contract (for the sale and if the contract is assigned). It if tanks my maximum loss would still be on the shares themselves. I think most financials are going to continue to oscillate around their current prices until the government bailout starts moving into effect.

I'm still waiting until I can deposit into my TOS account, so by the time that happens this trade will probably be gone.