Please, I appreciate any opinions on the following potential trade: I bought 100 stock UPRO for 87.04 per share. What do you think of the following covered call at today's prices? : Sell Covered Call Expiry Jan14 strike price $90 for 14.80. My calculation of possible ROI are as follows: a) If UPRO is $90 or higher and am exercised: -$8704 Initial invested in buying stock +$1478 net recvd from covered call after -$2 commission +$8985 will receive from exercise after -$15 commission Net Result Gain: + $1759 which is +20.2 % over initial 8704 invested amt. b) If UPRO is lower than 87.04, I wld be down whichever amount in the price of stock but still keep the +$1478 from sale of the C.C. c) If Upro higher than 87.04 but lower than 90, I'd gain those dollars per share plus keep the + $1478 from sale of C.C. * What can go wrong here? It just sounds too good to be true on first sight, but then again the expert hands are sure to give me some better point of view.