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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: LemurHouse who wrote (3081)11/26/2001 9:32:49 AM
From: LemurHouse  Read Replies (1) of 5205
 
Dan: since the last post I've dragged out my McMillan to have a squint at his tax chapter. Is your objection to shorting against the box based on the 30 day wash rule, or is it something specifically against shorting against the box? I see the problem with the wash rule (althlough presumably this can be overcome by waiting more than 30 days to cover the short?) but I still don't see a specific prohibition re shorting against the box. Any clarification most appreciated.

Thx.

PS: I notice McMillan does mention shorting the underlying as a possible way of delivering stock when assigned, but doesn't address the mechanics of how to do it or the tax implications.
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