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Also discussed by Chilliaa (now Intrisic Value) http://www.somersoft.com/forums/showthread.php?t=53581 Cheers, The Y-man

There is a BIG difference between this statement and not owning shares outright. In the past, the stratgey being discussed would be a (protected) covered call http://www.asx.com.au/products/pdf/buy_write.pdf with the addition of a put option to hedge against large drops. I...