I think it is interesting how you make no mention of the call premium, only puts - There is no real % difference in the put/call cost difference...84 calls at about 4.60 (OTM by .20) and 84 puts at about 4.80 (ITM by .20).
I sold cash secured puts. Since I don't own the stock in my IRA I can't sell naked calls. Yes, I could have bought the stock and sold call options but my way is safer but also potentially far less profitable. But if the stock drops I'm in but at a much lower price and I too may see large gains down the road.