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To: Labrador who wrote (6228)	4/9/2000 5:23:00 PM
From: edamo	Respond to of 8096

labrador...thanks the tax code reference... the question is.."seller acquires substantially identical stock or securities...." "for this purpose include contracts or options to acquire or sell stock....." the gray area that even the irs couldn't make black and white is incorporated in the second paragraph....a short put or a covered call contract is neither a contract to acquire or sell stock under the control of the seller, but is triggered by the decision of the contract buyer...the position is not closed until worthless expiration, or assignment/call....it is at the assignment/call date that the irs calculates the time for short/long term gain/loss on the underlying...so the position in a short put sale, may or may not occur within the thirty day wash rule....this is the gray area...