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To: Uncle Frank who wrote (56468)12/23/1999 3:32:00 PM
From: phatbstrd  Read Replies (2) | Respond to of 152472
 
Rick, UF is right.. That's called either a CREDIT SPREAD or a DEBIT SPREAD depending on your strategy. For instance let's say I want to go from (long) XYZ JAN 01 100's Call's to the XYZ JAN 02 100's Call's, this is considered a spread and would create a debit to the account in form of difference in the premium... a debit spread. P



To: Uncle Frank who wrote (56468)12/23/1999 3:53:00 PM
From: waverider  Read Replies (2) | Respond to of 152472
 
well...she did seem kinda young sounding...and it was from my old outfit...Dean Whiter not Fidelity...

ok, but you are still doing two transactions, right?
the way it was being discussed here, it seemed like kind of a neutral move with the house issuing the whole deal like some kind of used car trade in...

so you still have to treat it like a sale with the IRS, right?

lemme know...
Rick