Subject: Re: Upgrade at EJ
If the price goes a little lower (say $450), I would be a buyer of shares, and if the price goes a little higher (say $525), I would be selling more puts.

Did you mean you'd sell calls? Doesn't make much sense to say that the stock is perhaps overpriced now, but you wouldn't sell puts until it's definitely overpriced (and your premium is lower for the same strike).