I've been wanting to try some options trading for awhile, but have not gotten around to doing it until now. I just finished entering my first covered call.

This is something of a big step for me. I've been "in the market" since about August 2006, and semi-actively trading for about two years. A little while ago, my step-father told me about his regular use of covered calls to generate income and bring down the cost basis of his investments, and I thought it sounded like a neat idea.