Cool, this is what I was hoping.

Quoted: If you write a call option that gets exercised (meaning you sell the stock), add the premium to the sales proceeds. Your gain or loss is short term or long term, depending on how long you held the shares.

Makes sense. The latter point doesn't apply to my particular situation though since the shares I will be selling covered calls against are all long-term.

Quoted: In addition, simply buying and holding your stock lets you decide when you're going to pay tax on any capital gains. As long as you don't sell, you won't get a tax bill. However, if you're forced to sell your shares under the covered call strategy, Uncle Sam will want his share next April. Even worse, if you use covered calls with newly acquired stocks, you might end up with short-term capital gains, which don't qualify for lower tax rates and can more than double the taxes you'd otherwise have to pay.

Some helpful tax information if you exercised employer stock options. Essentially, your gain is already accounted for on your W-2. Accordingly, you'll be able to claim a loss on Schedule D to cover your commission cost.

Quoted: You exercise your option to purchase the shares, and then you sell the shares the same day. Exercise date: 6/30/2005 Exercise price: $25 Market ...

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Quoted: The Covered Call writer can take one of two approaches to writing a Covered Call: A) Buy-Write: Buy stock and simultaneously sell an equivalent ...

Quoted: The strategies listed here are a collection of discussion pieces. The Options Institute designed the workshop to help individuals learn about various LEAPS strategies.

Quoted: Buying deep in-the-money LEAPS can represent an alternative to owning stock. Purchasing a LEAPS call can lower cost, reduce risk, and provide a return similar ...