SPX Credit Spread Trader

Discussion in 'Journals' started by El OchoCinco, May 17, 2005.

  1. So where do i get to say Yea! He's baaaaack!
     
    #5141     Apr 15, 2006
  2. LMAO, you GO girlfriend! :D

    Downing the Riesling?
     
    #5142     Apr 15, 2006
  3. It's a shame , I would love to see heated option's discussion between him and Riskarb ; I'm sure that the rest of us will understand what they are talking about, lolol
     
    #5143     Apr 15, 2006
  4. actually the vinyards of Salida calling....

    edit,,, I do soooo love that you are back.. thx barron or Baron or whatever....
     
    #5144     Apr 15, 2006
  5. Prevail

    Prevail Guest

    smart business decision if you ask me.
     
    #5145     Apr 16, 2006
  6. Coach (and everyone else),

    Now that tax season is (almost) over, I don't recall anyone posting about applying Section 1256 rules to SPX credit spreads... Does that mean that most folks paid the full short-term rate on their gains (instead of the advantageous 60%/40% rate)? How do you handle your taxes?

    Also, for next year, I'd like to automate my taxes. I used GainsKeeper this year for my OX account (where I have no 1256 trades) because they built it into the website. But if I had 1256 type trades in the OX account, would GK know how to deal with them or would they be treated as regular equity trades?

    [EDIT: If you hedge your spreads with SPY, then is it true that you have a "mixed straddle" instead of a straight 1256 position, and the tax treatment becomes really complex?]
     
    #5146     Apr 16, 2006
  7. skanan

    skanan

    Mo,

    Thanks! You are always very helpful and provide clear explanation. How about 30d and 60d ? Does that mean the current month and next month expiration ?

     
    #5147     Apr 16, 2006
  8. What's Gainskeeper? I use a spreadsheet for trades by traders accounting. Nice spreadsheet but have to manually enter each leg of each trade. Can't import into it. Can you do that with Gainskeeper.

    Is there a website.
     
    #5148     Apr 16, 2006
  9. nlslax

    nlslax

    Duh...
    Plug "gainskeeper" into any Search engine and see for yourself.

    :p
     
    #5149     Apr 16, 2006
  10. As far as I know, yes that is a mixed position. Although many people like to argue that ETFs should receive 1256 treatment, I am fairly posistive that the decision has been made against it. I think it mostly had to do with indices being M2M whether you make the election or not, whereas ETFs are not. But I'm not a CPA, so don't quote me on that.
     
    #5150     Apr 16, 2006