I'd hate to throw away the time premium left on those options. When I had non-tradeable options, I sold naked calls against them effectively turning them into calendar spreads. As ironchef said, some banks or credit unions might work with you on finding a way to leverage the time premium by granting a loan against the shares. You could then use that to sell naked calls. If it goes too far ITM, then be prepared to sell the shares and close out the position.