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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (3325)	6/29/1998 4:57:00 PM
From: Spots	Read Replies (1) \| Respond to of 4969

The term rolling (or rolling over) when applied to options simply means closing (selling if long, buying back if short) one position and opening (buying or selling short) another option of the same type (put/call) in the same direction (long/short) on the same underlying security with different terms, that is a different strike (rolling up or down), different expiration (rolling out or rolling over), or both. Both transactions are taxable events. Any way you cut it the tax man gets a cut <G>.