Replies to post #339181 on Anavex Life Sciences Corp (AVXL)

[LakeshoreLeo1953]

Consistent characterization would be an educated guess.

Why not just cover buy buying equal open interest if not
trying to outlive the expiree action?

EA might be the better authority.

[drv17]

I would suggest that you contact the investment firm where your account is placed to get the exact answer.

[LBSR TO DA MOON]

FWIW - Any brokerage house I have ever dealt with has always used FIFO as their default disposal method. I currently have brokerage, retirement, health savings and trust accounts with Fidelity. Their default disposal method is FIFO for all types of accounts. However, I am able to change the default disposal method on any of my accounts. The choices I have are as follows: FIFO; LIFO; Intraday First In, First Out; High-Cost; High-Cost Long-Term; High-Cost Short-Term; Low-Cost; Low-Cost Long-Term; Low-Cost Short-Term; Tax-Sensitive; and Tax-Sensitive Short-Term. I would suggest you go into the particular account you are utilizing and access its Cost Basis Information Tracking to see which disposal methods are offered to you to choose from...

Any CPAs here? If I sell covered calls and get exercised, which lot of my shares determines the cost basis? Is it LIFO? Is there any way to designate which lot can get called away?