Check out TastyTrade.com, watch some of the videos.
I have a few rules:
1. Only trade very liquid underlyings. Only 30-40 stocks make the list, and only 10-15 are companies.
2. I don't always sell covered calls, only when IV Rank is high enough to tip the edge in my favor
3. When IV is high, you can set your strike price further out.
4. It's good to go to the 1 Standard Deviation strike, so in your trading platform look for the strike that's around 68% OTM.
Truthfully, though, I don't do covered calls all that much. Because they tie up a lot of buying power because you have to buy the underlying stock. They work best if you already are committed to holding long term, and if you write them in you IRA, which will prevent any tax implications should your short strike be reached and your stock called away.
When that happens, by the way, I just deploy the capital elsewhere, it's not tragic.
