Subject: Re: Price performance
Me: Also, what is the benefit of a high-ish stock price?

Jim: This is in the context of rolling an option up, or out, or switching from stock to calls, but not increasing the number of shares you are long.

If switching from stock to calls, then I see how one could get some spendable cash while controlling the same number of shares.

But to eventually get back to the same number of shares of stock you'd have to pay more than the cash you took out originally. And the time value of your calls will have been eroding the whole time.

What is the long term benefit? Don't you need some leverage at some point to generate the cash you spent?