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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: Herm who wrote (13473)1/8/2001 2:05:59 PM
From: BDR  Read Replies (1) of 14162
 
Herm-

Thanks for the links to Fairmark. They have excellent information. I doubt very much that I would qualify as a trader and I would certainly try to close a losing position in the current year to take the tax loss if that appeared advantageous.

I do still wonder about the tax liability of a profitable position, however. If I write a '02 LEAPS against and the LEAPS ultimately expires worthless, I get the cash now for a transaction that closes in 12 months and I settle up with Uncle Sam in 27 months. That's sweet! I am just wondering if it is too sweet. I will keep looking and see if Fairmark addresses that issue.
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