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To: Uncle Frank who wrote (6353)4/12/2000 3:04:00 PM
From: Seldom_Blue  Read Replies (1) | Respond to of 8096
 
I see what you are saying. In case of wash sale, the loss is deferred, not eliminated. Right? I will verify with my CPA about that. I guess the loss is reflected in the new basis for the position until it is closed.

If that is the case, I can live with it. I can at least sell the calls I have to salvage some time value. Of course they are hardly worth selling now.

I still see more downside though for the market. I hope I am wrong.

Seldom Blue