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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: jamok99 who wrote (13773)7/16/2001 7:41:33 PM
From: Herm  Read Replies (1) of 14162
 
Hello Jamok99,

Dan and JGoren gave you right on astute answers. I don't believe you have triggered a wash sale as well. Your first 500 shares is a loss and has nothing to do with your second 500 shares at this point. The CCs you sold is short term capital gains will reduce your loss on the second 500 shares that you may surrender if called out by your CC buyer. For tax purposes, the covered calls are "different" than the stock shares since there were not in the money.
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