I just sold my third set of covered calls on the COP I own. On the first two, the strike price was not reached. For this third round, I don't care. If the strike price is reached, I will still make well over $700 on my initial buy in price and I got the call premium in advance. I do these in my IRA account so there is basically no paperwork. ANd the nice thing about doing it in an IRA, is you don't have to worry about not getting the dividends qualified if you don't hold the stock for over 60 days. I can buy in again at any time before the ex div date and get the dividends again. Another dividend coming in a few weeks makes this quite a good investment so far.