Because I don't expect the price to fall beyond a certain point and I have expectations of EOY "bottom" areas.
Call premiums on ITM calls are extremely low... they amount to like 3-4%. There's much more upside from here than downside even if it drags up, in my opinion.
I had intended to run a spread for the past year but the LMCA offer killed premiums on $4 calls and made them not worth the write at the time. If one timed it properly they could have had a 100% year with a $2.50 / $4 spread at a $0.50 cost but you'd have to be pretty good with timing on that.
You're mixing what I "want" and what I "expect." I want the share price to go to a penny. I expect it will not.
You don't have to make a new name to pose that question