Hi everyone,Netflix is a holding of both this portfolio and my personal portfolio. I own shares in both a Roth IRA and in a taxable account. The Roth shares were purchased normally and I have no intention of selling them. The taxable account shares were purchased as a result of having written a put that was exercised in September 2011. The plan at the time was to write puts for income and, if assigned, turn around and write calls for income until the shares were sold. That plan was interrupted thanks to the large price differential between the price I paid and the share price.Now that Netflix's share price has moved back up, I am going to resume this plan. I have sought and received permission from the Fool's legal department to do so.Therefore, when Fool trading rules permit, I will sell a call against the shares I currently hold in my taxable account, with the obligation of selling these shares if the share price of Netflix exceeds the strike price of the call at expiration. This would reduce my Netflix holdings to just what is in my Roth IRA. If the call expires worthless (which would happen if the share price was below the strike price when the option expires), I would keep the premium paid as income and would then write another call, if the premium was worth it at the time. If that happens, I'll come back and make another announcement similar to this one before the subsequent trade.In no way does this action reflect a change in my thinking about Netflix as an investment, which remains quite in favor of it. This is simply the resumption of an income-generating strategy I had been engaged in a few years ago.Cheers,Jim
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