New Trade: Silver (SLV) Covered Call

Today I entered into the following transaction in a Roth IRA:

12/19/2011   Bought 100 SLV @ 28.389                                    -2848.85
12/19/2011   STO 1 SLV Jan 21 2012 29 Call@1.12                    +101.27

Silver has been slaughtered as of late and it is trading at the bottom of it's trading range. Our out of pocket is $27.47 which is at or below the bottom of SLV's trading range for the last year. We are bullish on precious metals and look at the recent downturn as a buying opportunity. If we get called away we will make $133 in 33 days which equates to 4.84% or 53.53% annual.