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fling writes (in part):

When I exercised and held, I believed it would go up. Well, I was right, but it's gone up a lot faster than I expected, so I was considering whether I could use a short sale as a hedge.

I reply:

Wouldn't buying a put option be a simpler hedge? Or would that cost more? (I've never bought or sold an option in my life, so this discussion remains academic for me. I also don't know what tax effects, if any, the purchase of an offsetting put option would have.) --Bob
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