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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (101282)	3/22/2000 12:15:00 PM
From: jackrabbit	Read Replies (1) \| Respond to of 186894

Re: So as Elmer suggested you can sell covered calls to offset some of the tax bite or you can just hold, and expect that the stock will probably retreat from the present level, but eventually be worth more than it is trading for today. Question re covered calls -- if they expire worthless, do you have to recognize the premium as ordinary income? I thought I read somewhere that you could defer recognition and just reduce your basis in the underlying stock by the premium amount. Thanks and regards, John