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1. Yes this is true. OEX positions are marked to
market on the last trading day of the year. Gains
and losses are calculatd and reflected on that years
tax. You then use the closing value in 97 as your
new cost for the position to be reflected in 98.
commodity transactions are handled the same way.
Kind of a bummer. You could have an unrealized gain
at the end of 97 that you owe taxes on. If the
position turns against you will loose money on the
trade only to have paid taxes on the unrealized gain.
John Chamberlin
===
john@xxxxxxxxxxxxxx
The mind is not a vessel to be filled but a fire to
be kindled.
-- Plutarch
---Rod Saunders <rsaunder@xxxxxxxxxxxxxxxx> wrote:
>
> I recently read that any open positions of OEX
options need to be marked
> to the market as of the last trading day of 1997
and gain/loss reported
> as such.
>
> 1) Is this true for non-profesional traders?
> 2) Where can I find the closing prices of the Jan
425p and 430p?
>
> I don't typically trade the OEX, but happened to
have this spread on at
> the end of the year. Any help would be appreciated.
>
> Good Trading,
>
> Rod
>
>
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