Yesterday, I sold 4 YHOO Jan10 17.50 Covered Calls for a net deposit of $174.98 in an IRA account.  My basis for these YHOO shares is now 20.33.

My last YHOO options expired in July and I sat on these shares waiting for their price to recover and then I sort of forgot about them in the hustle and bustle of the rest of my life.

I decided on the Jan10 expiration month because I wanted to sell the 17.50 strike which is about where it peaked in July and collect a reasonable premium.  I was able to collect a net .44 per share on these Calls.  I am closing in on being able to sell Covered Calls above my basis which will give me greater flexibility and opportunity to sell Covered Calls with higher premium and closer in.