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"thanks" for the link to that MFO thread, Rob.   That was painful.  Reminded me of a conference call I had a day or 2 ago. 

I've been a PRO member since day 1, or at least by day 30, so I get the math of it all.  

It is some of the subtle points that I was looking for here: 

"There are differences between written puts and covered calls but they are very subtle and not related to the risk/reward. For example, you might pay less commissions with one or the other, depending on your broker. You might prefer one for tax reasons. You might prefer the way one or the other looks in your account window. You might like to use the free loan known as buying power to write puts that extend your account beyond 100% without paying margin interest. Those are all reasons to prefer one to the other but they don't change your returns or your capital at risk."


Another difference is ownership, but that too could be argued based upon valuation.  If you're writing covered calls, it could then be considered an income position or sell.   If you write an at/near the money option (put or call), and the stock plunges, then is it better to be PUT a falling knife or owning one?  

thanks for the comments,

Frank

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