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To: freeus who wrote (117825)4/15/1999 12:06:00 PM
From: PAL  Respond to of 176387
 
Hi Freeus:

Yes you can sell buy sell buy the same option (same strike price and same expiration) over and over again, "as long as for each transaction you make a profit" (I amend that for Chuzz our mathematician : as long as you don't lose" vbg). Otherwise it will be considered as Wash Sale where you have to wait for 30 days to get back in or you cannot claim the loss on that particular transaction but will be used to increase your cost basis for the next one. Oh I get a headache on april 15.

Have you read my post of simulatenously selling calls and selling puts on CMGI and hold the stock until Jan01? But how can I suggest to Freeus to sit still from now till Jan01? VBG

Paul