Anavex Life Sciences Corp (AVXL)

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"Imagine some one selling 50 or 100 calls of $7.5 or $10 strike price for peanuts, before the price surge and now on the verge of losing 5,000 or 10,000 shares for an immediate loss of $$ and potential losses in the future."

For clarification sake I feel a need to interject.

Prior to the run up I bought 4400 shares so that I might sell 44 Feb.19th $5 calls. At the time the share price was in the $5.60's.
I believe when people speak of selling calls on this board they are referring to what I just described.

I don't think posters on this board are selling calls against their core positions as those shares are precious to them and as you say the out of the money option premiums are minimal.