Maksims Covered Call Options Forum

[ksbirddog]

I've been selling covered calls.
I'm interested in what you did in the following instance:
So what I did with Ford, is instead of paying $2 a share then, just bought $2.50 calls, for Jan 2010 for a $1. I wrote dec 08 calls for $.40 cents, so 40% of my basis is paid for, in 8 days, Will write the next set, and voila, in 2 months, my 1 year long leap is paid for. I can either close out position, or keep writing.

Can I get you to explain this a little more. TIA