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Technology Stocks : America On-Line: will it survive ...? -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (9164)3/31/1998 9:00:00 PM
From: jack rand  Read Replies (1) | Respond to of 13594
 
>>Shorting against the box is no longer usable to save on taxes.

Yes it is. Just harder. SOB in current year must be closed by
01/30 of next and stock must be held naked for 60 days before
puting short back on. But can sell calls no more than one strike
ITM to cover during the 60 days.



To: Glenn D. Rudolph who wrote (9164)4/1/1998 3:28:00 AM
From: PAL  Read Replies (1) | Respond to of 13594
 
Shorting against the box is no longer usable to save on taxes.

SOB is not also used to lock in profit. At this stage you neither gain nor lose your investment regardless what the stock price does. The tax treatment of SOB was changed in 1997 at the insistence of the White House. The Republicans gave in to that demand.


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