Why not just sell the stock? If anything cap gains will go up in the coming years.
And besides GOOG is headed higher long term. It is way behind the market and will catch up to it eventually. If you're willing to sell calls trapping you in the stock for 2 years, just hold it long and buy the dips instead. You either believe or you don't. If you don't then you should sell. Hedging is just giving away money. If you're not sure or don't like the stock then sell it.
It's obvious you don't get Google, few on wall street do. They never have and they never will. This stock could double in the next 6 months and still be cheap.
IMHO, GOOG trading pattern for the last three days is indicative of a "SELL." I have no position although I would like to buy in at a much lower price after earnings are announced. Tommorow I thing we get a big disappointment with MSFT after INTC's numbers and this hurt technology overall.