In my IRA account, I just bought 53 of the 15-strike calls out to Jan. 2015 and sold against them 53 of the April 27-strike covered calls. The differential paid was $1,133 per contract or $60,095 after commissions. By the way, the entire buy-side volume of 53 contracts in the 15's for Jan. 2015's today is mine; nobody else in the world has bought any of these contracts today as of this time.
I have done well with PFE calls with 2 doubles in the past 2 years. I am now left with 150 PFE 01/18/14 25.0 Calls, which to me is "house money" that is riding hopefully on a trip with PFE common price going to $29.95 before year end.
When these 150 calls hopefully double, I would like to replace them with PFE 01/17/15 27.0 Calls which I hopefully will ride on a trip of PFE common going to $32.45 before 12/31/14.
If this all happens, then I will have most likely turned a small $15,000 investment into a six-figure profit during a time period when PFE common would have only essentially doubled.