Yes and don't do it.
Yes. I traded real money for options...once. It is a zero sum game. IMHO you are swimming with sharks, and you are bleeding. Covered calls may have their place in a non-volatile market. But, do you really want to risk having a long-term position called away from you because it is rising..isn't that why you bought it? I won't be profane and tell you that the only ones who make money in options are the ones selling the trading strategy du jour, but the only ones making money in options are...well you get the picture. It is a sure way to become a millionaire, if you start with ten mill. Leverage works both ways, just ask the big boys with their quant models, portfolio insurance, hedging collars, straddles (ouch), delevaging all at once and its not working Harvard types: "you just can't lose!" You asked.