Honestly, I let the market do the work for me. I look for a delta around .3 so the market gives it a 70% chance to expire in the money. Then i place a buy to close at 50% of the premium and wait. 

If I get assigned the stocks, I'm comfortable holding them if I have to. Don't wheel any stocks that you wouldn't buy at that strike price, because that's the risk you're taking on.

Aardvark

Yeah that’s not a bad idea. But to do this strategy I assume you need to be watching your positions like a hawk?