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To: EepOpp who wrote (109258)12/5/2001 5:34:29 PM
From: Uncle Frank  Respond to of 152472
 
>> i can't even sell them for a market order or even do something called a cabinet trade where i'd be willing to sell them for pennies.

As I understand it, the cabinet trade is an accommodation by the brokerage house you deal with. Have you checked with them?

uf



To: EepOpp who wrote (109258)12/5/2001 5:42:24 PM
From: Caxton Rhodes  Respond to of 152472
 
I am positive you can write them off as worthless, your broker can tell you how, or an accountant.

Caxton



To: EepOpp who wrote (109258)12/5/2001 7:53:38 PM
From: brian h  Read Replies (2) | Respond to of 152472
 
You can call your broker to sell (cabinet) those calls. Those calls just become worthless. You then can take a loss. Just keep the records for IRS agents just in case. Your accountant will advise you but will not take the write off decision for you. You are on your own. :-)

Good luck.

BH (an accountant before)


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