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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: Marc Schiler who wrote (1647)	12/23/1997 8:27:00 PM
From: Berney	Read Replies (1) \| Respond to of 11051

Marc, The "wash sale" provisions apply only if the securities sold and purchased are substantially identical. From a logical perspective, I would have trouble differentiating a stock and the option to buy the stock. On quick review, I didn't notice a direct court case, but in the case of bonds, it has been clearly established that varying maturity dates are insubstantial. That is the bonds would be substantially identical if by the same issuer. I see no difference between the stock and the option to acquire the stock. On the otherhand, look at Steve's question next. I see no problem in selling the stock and buying the Index. Berney