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To: Arthur Tang who wrote (733)	3/12/1998 12:12:00 PM
From: posthumousone	Read Replies (2) \| Respond to of 1471

at, 2 more questions: Question on Wash Sale: If you have a call option that you bought at $4 and it decreases to $2 and you sell it for a $2 loss- Then you buy the stock within 30 days of selling the option. Is the loss on the option considered a wash? They are 2 different types of securities, with different risk factors, right? Fair Value Each morning before the bell, CNBC shows the SP futures. The host then compares the SP future number to yesterdays close and calls it "fair value" What does fair value mean? How is it used? For instance today the SP futures were down .80. At that time the fair value was 1 point(?) below yesterday? To a novice (me) it suggests the market is priced just about right and everything is fine and dandy with the market. Had I heard it was below "fair value" I would think, whow, a buying opportinity.