didn't check to see if it was paired so you are most likely correct in that it was written to cover an existing long position. btw, I was kidding with the "corner the market" quip. I really didn't think it was you.
I've never been able to make money on long calls nomatter what the underlying stock...in the money, out of the money, it just doesn't matter. My calls always end up worthless. To me it's kind of like fishing and I can't do that either. I can be sitting next to some guy who is hauling them in hand over fist and I'll get nary a bite....and to add insult to injury when I reel my line back in, the bait is gone! You may think I'm kidding but it happens every time! As a result, I don't fish anymore either. I don't know how you do it but kudos to you!