I think this trade is the worst one I've made to date.  It was done out of pure panic (this was the day Starbucks announced horrible earnings ).  Knowing what I know now, I wish I never did this trade.   The expiration is too far out (Jan 2010) and the premium I received was too small.   I'm going to close this position as soon as I can without taking a loss.  I'd be ok just breaking even on it.  

Instead,  I want to sell covered calls on my shares with much shorter expirations and a lower strike price.

Live and learn.