I am getting very confident about the covered call strategy, the more I think about it. I wrote 2 more covered calls today. KO and T, just out of the money. Fingers crossed. T was going down and KO was moving up. The call of KO is sept 27 and call for T is sept 20.

I am not having crazy profits right now, but starting to take a note of how I can maximize the profits. Trying to fine tune profit calculation, strike price and expiry. I am looking at 1, 2 or 3 week expiry options. Right now, I believe writing option for same week on a monday can be the most profitable strategy. I will test it thoroughly next few months. Don't seem to be making much money from this right now, but still making more than dividends, which is nice.

I looked into "At the money" options as well, considering "buy-write" strategy. I might do some experimentation on this.

I did some math and looks like if this trend continues, I might be looking at about 16% annual gain in addition to any share appreciation. Which seems decent. Not sure about T, but I expect KO and JNJ  to move at least 2-5% by end of this year.