taxed2much

Don't Let Bulk Shippers Sink Your Portfolio... For Now

How does the covered call options and long in the stock work? Can someone explain it thoroughly? Just not too thoroughly. I don't want info overload. First let me see if I have it right though.
You buy or own the stock at say 45.00
You write a call with a strike of 35.00. This would give the writer the option to buy at 35.00? Or having written the call option, if it get excercised the writer then has to purchase the stock at 35.00 from someone excercising their option? Wait I've got it backwards don't I? Owning the stock at 45.00, then the stock owner would write a call for a higher strike price. 55.00. So when someone buys the call option, the stock owner first gets the premium and if someone exercises that 55.00 call, then the owner/call writer has to sell his stock he paid 45.00 for to the option buyer for 55.00. A profit in premium received and on the appreciation (22%) in the stocks price? Although the stock probably will not change hands. The option will just expire worthless and the writer still has the premium he got for writing the call.
Now one other thing, does the call writer write those calls close to expiration? Or I guess that is dependent on what amount of time you are willing to tie you money up for. Closer expirations will sell for less and further ones more but there is the chance the further out, the stock price could actually go above the writers call of 55.00. He would lose the stock and any gains it has. But still gets the option premium plus gets the price he paid for the stock to begin with plus the extra he wrote the call above his price (22%)? How can you lose in this type of trade? Is there any way? Most important though, do I have this right? Please correct me where wrong. And thanks in advance.