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Re: infinite_q post# 328902

Wednesday, 08/03/2011 7:27:07 PM

Wednesday, August 03, 2011 7:27:07 PM

Post# of 432663
Wash sales only affect loss sales

The purpose of the wash rules was to avoid letting people choose to generate tax losses while maintaining their position. The IRS has no problem with you generating taxable gains while maintaining your position.

While not part of your question, I will advise that you think carefully about selling stock to buy options. You gain terrific leverage, but if the sale does not happen in time or is for less than your strike price, you end up losing your entire option contract amount and you no longer own the stock, so you also miss out on any gains the stock would've had. Many people have been hurt trying to time this stock, so be prudent in your allocation of capital. IDCC is a high risk investment. IDCC options are a high reward bet.
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