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To: Jeffrey Beckman who wrote (14136)	12/11/2000 1:18:32 PM
From: SJS	Respond to of 14427

I am not 100% sure of the correct answer, Jeff. It's complicated. I think it might be one of those wash sales problems/issues, but I am not sure. So think about it this way (which may be acceptable): 1) Write the OOM calls now/today. 2) Sell the calls for the loss now/today. 3) Take the loss on your taxes for 2000. 4) In 2001, close the OOM call transaction (proper) for a gain, or let them expire for a gain, or have the stock called, which allows a tacit gain on the Call. Therefore you have A GAIN on the OOM calls in 2001, and a ST loss on the calls you sold in 2000 for a loss. I guess that is ok, but not sure. Try this for a reference, It probably contains the answer, but you and your tax advisor have to interpret it for yourself: irs.ustreas.gov