Steel, Fertilizer, Coal for Bearish Market Strategy

The bearish market trend has caused me to rethink my strategy for covered calls. I normally sell calls ATM (either 1st in the money or 1st out of money). I will be trying to find good stocks to buy with covered call returns greater than 3.0% for 2nd call in the money starting with new positions in Jul. Some candidates based on closing values 6/13 are: X 165 Jul 08 4.2%, MON 130 Jul 08 4.2%, AA 35 Jul 08 2.8%, JRCC 40 Jul 08 5.4%, RIMM 120 Jul 08 3.8%, ACI 65 Jul 08 3.8%. These are not recommendations. They are only a thought on a strategy for a bearish market.