Hello, Let's say you own a long call that expires in a month or two and it appears the call will never recover back up the strike or whatever your break even point is. As a way to now limit one's loses, could you not write a call against the losing call using a lower strike? For example, you initially went long with a $26 strike when the underlying was $25, and currently the underlying is at $18. Let's say you write a call using a $21 strike with the same expiration, which will be a credit worth about 75% of the initial cost. If it's called away at $21 or it if it expires worthless, it's a win either way yes?