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To: Voltaire who wrote (12183)	4/11/2000 8:10:00 PM
From: bozo1	Read Replies (1) of 35685

re: Writing covered calls long term V and et al (et.al. that's lawyer talk for "and all the rest" I think, I'm not a lawyer but I know some good lawyer jokes!) I'm thinking about writing CC on some wonderful stocks I own in an attempt to suck the premium out. this is my question from a long term perspective...don't I increase the risk of spending down all my capital if I am consistently required to buy back smaller amounts of more expensive shares of the stock...obviously this is only an issue if the price of the stock is increasing (not a problem past few days at al). I understand that this is not a problem if the stock is not called out. Additionally, I would adopt this philosophy (not strategy...see I read the Beano family story)as a way to build wealth...I don't need the income (God has blessed far beyond my dreams from an income perspective) but I am concerned about spending down my capital beyond what I would make from writing the calls. I do understand that one might be able to buy the calls back closer to expiration but only if the stock (and thereby, call value) has not increased significantly. What am I missing? Thanks for your help and assistance on this issue. You will never know how much this thread and your willingness to share has meant to my life God bless you all Kerry

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