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To: Dr. David Gleitman who wrote (9190)	3/25/2000 1:22:00 AM
From: No Mo Mo	Respond to of 35685

<buy stock on that friday at 240 and instruct your broker that you want THOSE SPECIFIC SHARES to be taken out, as opossed to the shares that you bought at 150>... Dang...the good Dr.'s got the cure for what ails ya. That sounds just about as legal as Voltaire's sale of DITM calls to leverage more buying power. Strong medicine...Thank you for the trip. Oh...a nip of single malt for a nightcap since you asked. -Darin

To: Dr. David Gleitman who wrote (9190)	3/25/2000 10:24:00 AM
From: Neal davidson	Read Replies (2) \| Respond to of 35685

<<Another thing that you can do is to place an order to buy additional stock on friday of options expiration and let them take out these new shares at a higher price.>> David (and others): Are you sure you can do this? My buddy, who has an LLM in tax from NYU says this is not legal. (He's been wrong before, however). Second, as long as we are on the topic of taxes: I bought ELON at $54. I have been selling OTM calls ever since (ie: on Wednesday of this week, when ELON was in the mid 80's, I sold the April 110's for 6 3/8--too good to pass up). Anyway, do I have to take gains on every single covered call that expires worthless? OR, can I use the proceeds of the covered call to reduce my basis in the additional purchase? Thanks to any tax gurus out there. I am going to post this on the options thread also. Neal

To: Dr. David Gleitman who wrote (9190)	3/25/2000 10:52:00 AM
From: im a survivor	Read Replies (1) \| Respond to of 35685

David, Many thanks. Thats an interesting strategy. Actually buy more of the stock fixing to get called. Lose a little on paper, keep your original shares and not pay the tax man....hmmmm Rolling them to next month is probably the best answer....and doing it right at expiration when the time premium is gone...would you agree ? This way, your at least keeping the stock and riding higher strike prices. If I dont want my Q to get called at $130, I can shoot them over to next month and the 150's or 160's and etc, etc....eventually if I do get called, it will at least be at a much higher price. Am I missing anything here ?

To: Dr. David Gleitman who wrote (9190)	3/26/2000 1:48:00 AM
From: Didi	Read Replies (2) \| Respond to of 35685

Hi David, Brilliant, straight from L. McMillan's options text (tax section) p. 816-7. Best to you, Doc. di