Here's a start for the "buy and hold" crowd. (Does Liquidate and Transfer still count for "buy and hold") Anyway, here's the scenario.....Had a retired exec from one of the recently strong HEAVY company stocks call me and was nervous about protecting his profits on mutiple thousands of shares of his highly appreciated stock (cost basis about 8% of current price). I suggested a costless collar...sold out of the $ calls to provide capital to purchase out of the $ puts. Put on the position and he was extemely relieved. Now, let's just imagine the conversation if @ jones: "Well, Mr. Bigbucks we don't believe in such folderol as option "stuff", but let me show you this terrific mountain chart on ICA." Suppose that'd work?