Research In Motion (RIMM) has been on a bit of a tear since their Blackberry distribution deal in China was announced. With shares now trading near $66, I sold the December $75 Calls (RFYLT) for 0.55. This brings the effective cost basis of my RIMM position to about $64.50.
My belief is that even if their earnings report is better than anticipated, I don't see too much upside risk above $75 given that expiration is the very next day. And, I suppose that if I did get called away due to a serious explosion in the stock price, I can't really complain about the exit. In the case that I do part with my shares, I will be looking to re-enter, as I am still bullish on the company.