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To: Ian@SI who wrote (16064)	11/25/1998 1:31:00 PM
From: Dawgfool	Read Replies (1) \| Respond to of 25814

Here's how to play the option stock game. Sell the stock, get the loss buy a short term call to protect you against a big run-up. If there is no run-up. Rebuy stock after 30 days. Sell the call- will also be at a loss. You now have losses to take on both stock and option and a lower basis in stock. As long as tax savings from stock loss exceeds after tax loss of option you win. If stock runs way up. You may not be able to take loss on original sale, but that should be OK cause you did make lots of money on call. PS I have done this many times and what usually happens is just enough run-up to make me repurchase stock at a higher price but not enough to really win on call. Because I am the DAWGFOOL.