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To: Voltaire who wrote (29193)	8/16/2000 8:46:45 PM
From: abstract	Respond to of 35685

Anyone notice that after an 11 month layoff Gregg Powers has posted? Message 14225524

To: Voltaire who wrote (29193)	8/16/2000 8:51:50 PM
From: pinhi	Read Replies (2) \| Respond to of 35685

Thanks Tom, but I'm not sure I totally understand. Let's say you bought QCOM at 120 (I did and lots of it). Over the next 5 months it drops to 60. Are you saying to write the calls at say 100, 90, 80, 70, 60 all the way down? Remember, I'm SPENDING the call premium. I don't understand how I get my equity back. Granted I have more money because I have written the calls all the way down, which I spent, but my vehicle has still been cut in half. I don't really understand how you get your equity back if you are CONSUMING 100% of the call premium. TIA, Pinhi