Today I BTC 2 AMD Oct09 5 Covered Calls and STO 2 AMD Jan11 7.50 Covered Calls for a net deposit of $38.99 in my taxable account.  My basis for these AMD shares is now 16.26.

AMD has been pretty much moving up since early Mar09.  It took a dip down in June and was down under $4 when my prior Covered Calls on it expired that month.  It appeared to me that it was going to stay down there or perhaps even fall lower as it has done in the past.  Hence, my choosing the Oct09 5 Covered Calls to sell at that time.  Now, the story looks a little different with AMD continuing to rise again.  I may regret going all the way out to Jan11 to sell the 7.50 strike but I was a little tired of rolling out and up without depositing some additional cash in the process.