Let me start my saying that it really is greek to me. This is the first time I have considered doing this. Here is the scenario to assume. Long 5000 shares, say MSFT, which will be held for 4-6 years from today. By that time it is expect to be closer to 50 a share and I will sell 1/2 the Long, maybe. In the meantime I want to generate small amounts of cash with low risk. Obviously I could sell covered calls. However, I assume that I will be learning greek and I am a reasonable and profitable trader (day and small swing). So I don't want to nilly willy just start selling some Jan 06 calls. I need a strategy to map out a path as I learn. Just like trading 100 shares when your cash allows 50 times that, I want to start with real options trading but small amounts and build over time. So could the greek "gods" offer suggestions on a where to start. Which greeks should I be looking at first. Strategies to examine? Things to watch out for? Feel free to reply in greek as I will translate at my leisure. Thanks in Advance!