Local content of bipartite qubit correlations

One of the last open problems concerning two qubits in a pure state is to find the exact local content of their correlation, in the sense of Elitzur, Popescu, and Rohrlich (EPR2) [A. C. Elitzur, S. Popescu, and D. Rohrlich, Phys. Lett. A162, 25 (1992)]. We propose an EPR2 decomposition that allows us to prove, for a wide range of states |{psi}({theta})>=cos{theta}|00>+sin{theta}|11>, that their local content is p{sub L}({theta})=cos2{theta}. We also share reflections on how to possibly extend this result to all two-qubit pure states.