No free lunch.. the lowest risk to initiate a covered-call is then then the price is overbrought and at a possible high point. This is also the point in time then volatility usually is the lowest and you get the least premium for your sold calls.
That's should be fine I guess. If my goal is to buy and hold it, then writing high probability calls is just getting me a little something to reduce my cost basis.
I am not telling you it is bad. I am saying if you play the game long enough, it is hard to come out ahead if you do it mechanically.
To play it to win in a buy-write, you need to have a correct opinion of the underlying. If your opinion is correct, the high IV instrument will net you a higher return in general.
