In thinking of new strategies, I thought of a strategy in which you would buy 100 shares of a stock that is coming near its ex-div date. You would then collect the dividend and sell a covered call, your choice of strike price and whether it is ITM, ATM, or OTM . Therefore you would receive the dividend (somewhere between 5-10%) and sell a covered call which could be another 5-25% estimated, depending on strike price. The covered call would be in the current expiration month. Any cons to this strategy? has anyone done this before?