Stock Unchanged

XYZ is unchanged at $40 at option expiration

If at expiration the price of XYZ is unchanged over the price when the repair was established and closes at $40, the situation is very similar to the one above. All of the call options expire with no value, and the investor is left with the shares originally purchased at $50 and the same $10 per share unrealized loss. Once again the repair strategy has neither helped the original stock position nor increased its risk.

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