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Covered Calls and taxes



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<DIV><FONT size=2>Does anyone know of a source on the web which summarizes the 
the tax consequences of selling calls? The CBOE site had enough mumbo jumbo to 
make me unsure and the Amex doesn't seem to cover it.</FONT></DIV>
<DIV><FONT size=2></FONT>&nbsp;</DIV>
<DIV><FONT size=2>My particular question regards selling in the money calls on 
stock held 15 months, so that it would be called after the 18 months. Therefore, 
(I hope) making it a long term gain. This would all be done in the same tax year 
over the next few months.</FONT></DIV>
<DIV><FONT size=2></FONT>&nbsp;</DIV>
<DIV><FONT size=2>Thanks in advance - Rod</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Fri Jan 08 01:25:10 1999
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Date: Fri, 08 Jan 1999 02:45:41 -0600
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From: Rory Lewellen <rl2946@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Markets
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     Realtraders,

     Proportionately, Jan. 15, '99 coincides with projections in time
for a couple of recently formed swings in the DJIA:

     1.  The Nov. 28, '98 high to the Dec. 14, '98 low, at 1.618

     2.  Taking the time from the Nov. 12, '98 low to the succeeding
         low of Dec. 14, '98, and projecting forward from the high
         of Nov. 24, '98, also at 1.618

     Both suggest, if the index rises into Jan. 15, '99, the
formation       of a pivot high then a distinct possibility.

          
     Best wishes to all,

     Rory Lewellen       rl2946@xxxxxxxxx 

          

nwinski wrote:
> 
> Proffittak@xxxxxxx wrote:
> 
> > In a message dated 1/6/99 10:41:06 PM Eastern Standard Time,
> > nwinski@xxxxxxxxxxxxxxx writes:
> >
> > << so a sharp move up to the SPX 1356 level into the Jan. 15 weekend would be
> >  the next time and price
> >  to consider a short term high for SPX. 
> >
> >  Musically,