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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Voltaire who wrote (46634)10/30/1999 3:56:00 PM
From: James C. Mc Gowan  Respond to of 152472
 
V.; helps a lot, and I believe my thanks are echoed by others on this thread. The buying back of calls, even with the price exceeding what you sold them for, and avoiding the capital gains, was the key of this strategy that I had not thought through. With the magnitude of gains realized on a stock like the Q, a little loss can help, in a taxable account. Yes, this helps greatly.
Fore!
Regards,
James

P.S. to Thread; does anyone know if you can sell covered calls against Leaps. I have deep ITM leaps on Q, and thought of employing similar covered call strategy for leaps, if possible. Interested in any discussion as to pros/cons for this.



To: Voltaire who wrote (46634)10/31/1999 9:10:00 AM
From: MileHigh  Respond to of 152472
 
V,

Plus, you hit the nail on the head for me, I sell calls for ST protection and I usually only sell out of the money calls at that. Sure the stock could move higher but you can always buy the calls back at a loss, many times at a per share loss less than what the common moved up.

Again, "It's the protection, stupid!" ;->

MileHigh


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