Saleem--A belated Happy Birthday to you! I just returned from an out of state graduation and thankfully missed Friday's action. I'm not a technician, but often sell calls on a stock after it has a sharp move higher, as profit taking most of the time ensues soon after the move. If I really love the company and think the stock can still run, I usually sell covered calls only on half the stock. The worst that can then happen is the stock takes off and half my shares get called away, but I'm still participating in the remaining shares I own.