Wash sales question. rolling an option up one month

Discussion in 'Options' started by prc117f, Nov 18, 2013.

  1. prc117f

    prc117f

    I have a gain realized for this year in another account (Brokerage account B)

    and a unrealized gain in (account A) BUT its a covered call position that expires several months down.

    Can I close this covered call that's ITM and realize a loss, short a new one (Same strike) but one month forward

    use the loss to help offset my profits for this year?

    Since its a new different short contract, technically its not the same right so it should not be a wash sale right?

    Also what does Romney do to pay 0-10%% taxes on his trading, is there some way to do this?
     
  2. Absolutely.