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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Barry A. Watzman who wrote (42714)	12/18/1997 9:45:00 AM
From: ratan lal	Read Replies (1) \| Respond to of 186894

Barry << No, you can't do that. The law considers it a "wash sale" if it is the same security or a "substantially similar" security >> are you sure?? i just heard this on cnbs this week. also, brokers do not report options on you 1099. ratan

To: Barry A. Watzman who wrote (42714)	12/18/1997 9:50:00 AM
From: miraje	Respond to of 186894

Barry, Are you sure that "wash sale" rules apply to options? I recently rolled some '99 Leaps into '00 Leaps at a different strike price. Are you saying the loss I incurred can't be used to offset other gains? My broker, who admittedly is not a CPA, told me otherwise. Thanks to you or anyone else who can clarify this. Regards, JB

To: Barry A. Watzman who wrote (42714)	12/18/1997 3:06:00 PM
From: Petz	Respond to of 186894

Barry, re: wash sale on sale of puts. I believe that sale of a stock to realize a loss along with selling a put within 30 days (to allow participation in any move up) is considered a "wash sale" ONLY IF the put is 5 or more points in the money. So it would be considered OK to sell Intel and simultaneously sell January 70 puts, but not January 75 puts. If you really are afraid of Intel exploding up in early '98 you could try a risky position like selling 1000 shares of Intel but selling 20 Jan70 puts, instead of 10. My personal opinion to realize the loss is to just sell it right now because it will be lower in late January. Petz