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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Id who wrote (39379)	2/16/2001 8:38:59 PM
From: BDR	Read Replies (1) \| Respond to of 54805

<<Actually, you could do this to lock in a long term gain prior to the one year holding period. However, I believe that it's against the IRS rules to sell covered calls more than a strike price below the current price and claim the tax advantage. At least that's according to my accountant. Though he also says that it's highly unlikely that the IRS would ever catch it.>> You can't turn a short term gain into a long term gain with options. At least not if the IRS catches you at it: Message 15226461