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Strategies & Market Trends : Options
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To: taylorfife who wrote (150)12/27/1999 2:50:00 PM
From: RoseCampion  Read Replies (2) of 8096
 
Can I sell the calls today and buy back at a different strike price tomorrow or is that washing?

Option traders have been waiting for years for the IRS to issue regulations on this. You shouldn't hold your breath for that to happen anytime soon. <g>

Until then, it's legally a grey zone - as my accountant liked to say, it's one of those "declare whatever you feel you can without blushing" areas.

Personally, I feel if you roll to a different month and/or a different strike, you're pretty well covered to not trigger the wash sale rules. If you're conservative, do both (eg, trade Jan 50s for Mar 55s).

-Rose-
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