OK, I dabble in weekly options. I have two very similar questions:
1) I sell calls that expire on 12/31. Say they expire worthless on the 31st. So, I have a gain. Am I correct that the gain is consumated on the trade date of 12/31 and hence gets logged as part of my 2015 tax return.2) Same situation, but I sold covered calls. Say they expire in-the-money on the 31st, so my shares get called away. Once again, is the gain/loss realized on the 31st and hence logged on my 2015 return?
Mel