US Steel Intiated Covered Call

US Steel has been hammered by Economic down turn.
Options premiums remain high. Therefore I initiated a Covered Call positon today.

Buy 100 Shares at 27.60 for $ 2760 of debit -$5 commission for total of $2755 on 3/2/2012
STO -1 April 29 call for 1.13 or $113 of credit -$2.95 commission for total of $110.05

Return if Price below 29 on April Expiration $113/$2760 = 4%
Return if price above 29 on April Expiration  $253/$2760 = 9.1% (less commissions)
    Capital Appreciation $140
    Option Premiun $113
   Total $253


Update
On 4/20/2012 X closed at 28.98.
I closed my April 29 call for .04 on 4/20/2012
My return is:
STO -1 April 29 call for 1.13
BTC 1 April 29 call for .04
                                        Total of 1.09 or $109
                             less commisions of 2.95
                                           Grand total is $106.05

Return is $106.05/$2760 or 3.8% for 49days, or 28% annualized.

I will try to open another CC on X next week as Premium still remain quite high.