I always seem to make bonehead moves, so I think FCX is going to take off.
I sold May 08 $105 calls (covered) for $7.00 a share today. I have the calls covered with shares long at under $70 basis and I also have Jan 09 $110 calls (I bought these for way too much last Sept), so I believe I am hedged somewhat if this really takes off above $112 in the near future.
I would not have written calls at 105. I would not write calls at all on FCX, but if I did I would not write them so close to the money. I hope it turns out good for you but earnings come due before your calls expire.