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Well, cash covered at least...

So I sold some on a stock that is trading below book value with a strike far enough below that I do not think it is likely to trigger.

If it is not exercised, it will give me about 6% on the cash that I had tied up over about 7 weeks. Probably a bit over 40% annualized.

We will see how it goes. It is a pretty small position since it is an initial experiment.

Anyone else have any experience with this sort of an approach?
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