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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (1916)	2/22/1999 10:43:00 AM
From: Mike da bear	Read Replies (1) \| Respond to of 5810

Thanks for the reply. This is a bummer. I thought I'd be smart and instead of exercising the option I'd buy puts. If the stock went down I'd sell the puts and still have the option. If the stock went up I'd excercise the option and use the gain in stock price to offset the put losses. Now the flaw is if the stock goes up the put losses are capitol gain losses while the options go up and are increased income. Since I can only write off $3K in capitol gain losses agains income in a year this isn't such a brilliant idea. mdb