I've been playing with options for about 2 years now...Lets just say that I contributed $$$ to a 2 year long options class. Anyway, with mini-options, I can finally look at the big guys for covered calls. I am particularly interested in AMZN and GOOG. I like goog for the long run and I'm a bit scared of AMZN right now. If the market takes a hit, I feel like amazon is due for a bit of a drop. Anyway, like I said, mini-options have allowed me the ability (with my limited investment fund) to start selling covered calls. My question to you guys is...have you ever tried doing a compounded covered call investment? As in, you look at SOLELY premiums, and share/share price, whether positive or negative, has no bearing on your investment strategy. I made an excel sheet which looks pretty enticing. I'm just afraid there is something I am over looking. With a starting investment of 10k, based on ~80$ a week google call premium, you can make 17k profit off premiums alone in the first year. This is assuming you add 10k throughout the year (this is not counted in profit). I added a 1.7 margin multiple to the stock buying power to limit the possibility of margin calls. With a stock like Goog, and doing this on a weekly basis, it seems pretty foolproof. Though again, I feel like I may be missing something crucial.