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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: jebj who wrote (12211)	1/19/2000 9:22:00 PM
From: Dan Duchardt	Read Replies (1) of 14162

jebj, Here are a couple of SI subjects you should check out, especially the second one beta.siliconinvestor.com beta.siliconinvestor.com When you get there, look for messages from Colin Cody, and follow the link to his web site. Also Kaye Thomas has a web site. Both have a lot of good information. Basically, the advantages are that as a trader you can deduct your expenses on Schedule C and are not limited in the same way as with Schedule A, but you do not have to pay self employment tax. If you elect Mark to Market (must be done in advance; by April 15, 2000 for tax year 2000) you are not limited to the $3000 per year capital loss. Your trading gains and losses are treated as ordinary income, there are no "wash" sales to worry about, and all trading positions held at the end of the year are treated as if they were sold on December 31 and repurchased, so even "unrealized" gains and losses are included. Dan

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