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The Ebay May strike 13 call is an attractive hedge against the underlying shares!

Bought EBAY at 14.56, and wrote May strike 13 at 2.01/contract for an intrinsic time value of .45/contract.  The May strike 13 not only provides a good premium but also a downside protection on the underlying shares to 12.55.  At 12.55/share, I'm willing to hold the shares.