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To: rydad who wrote (29469)	8/18/2000 11:54:27 AM
From: jc2020	Read Replies (1) of 35685

Hi Rydad, I'm in bout the same boat with my ELON. As per my last post I did not do the right thing and buy back my calls when they dropped to 3/16 and re-write for additional premium on the way down. Could have done this twice in June-July month alone. I did re-write when options expired worthless on July 21 the Elon Aug 35 for 4.25. Last time I checked ELON was up a tad at 37+ and to buyback would cost me about 2.63. Sometime today I will buyback those Aug 35s. My cost in is similar to yours (slightly lower at about 55 if considering my premiums the last 2 months) So what I plan to do is buyback in the next couple of hours and re-write the calls but move out to November and add a few dollars to go OTM (say write the 45s or the 50s) and still get some return and maybe buy even more shares (alla V) and write them as well. Doesn't seem cost effective first to break the rollouts into a bunch of groups. Justs costs you more in commissions I think. Better to write 12 instead of 6 and 6. Go a little further out in time also. JMHO, someone else may see this differently. Good Luck. 2020

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