Obviously, they won't let us get away with not providing any collateral. This would be a good trade if the stock kept dropping because the margin requirement would decrease and the likelihood of the position expiring worthless increases. However, nothing is set in stone. That is a large percentage increase in margin liability. You would then buy the stock to close out the position at break even or possibly a profit.
Most investors close out the uncovered call when it breaks the strike price.
The point at which an investor decides to close out the position depends upon the investor's risk tolerance, objectives, goals, speculation level, future outlook on security, etc. An alternative to uncovered call writing is the Bear Call Spread or the Call Credit Spread. This provides some upside protection against the stock. I will embellish on this strategy in my next article. If you have any additional questions regarding this article, please feel free to contact me at the e-mail address below.