Stock Crew 2008: Confucius says: An outgoing tide lowers all boats 🤿🛟🚣‍♂️

stevezissou

OT Supporter
Jul 15, 2009
41,877
US
I'm hedging for a disappointing Thursday CPI print

I hope you guys take some insurance moves too
2dRMps9.jpg
 

993kgt

building an airplane whee
Nov 7, 2001
17,360
Destin, FL
I hear you, scheduled my 4th quarter estimated payment yesterday as well. :hs: :hs:

I put every tax withholding last year into SWPPX.....I'm down about 4.65%

I think rather than eat that loss, I'm going to instead sell some green positions I have in my taxable account (AAPL, MSFT, CME), and then replenish them with the SWPPX shares, so basically in that move I'm getting out of more single stock positions that have been longer term winners, and getting those proceeds into SWPPX instead

another thought is to sell the SWPPX funds, eat the -4.65% loss, and then buy a ATM call option for equivalent amount of VOO/SPY in about 6 months

then I feel better about things, but this would be a short term gain, and taxed, I think if I keep the shares and sell my individual positions, it will be locking in shares that are going long, so I like that idea better

decisions decisions
 

stevezissou

OT Supporter
Jul 15, 2009
41,877
US
I put every tax withholding last year into SWPPX.....I'm down about 4.65%

I think rather than eat that loss, I'm going to instead sell some green positions I have in my taxable account (AAPL, MSFT, CME), and then replenish them with the SWPPX shares, so basically in that move I'm getting out of more single stock positions that have been longer term winners, and getting those proceeds into SWPPX instead

another thought is to sell the SWPPX funds, eat the -4.65% loss, and then buy a ATM call option for equivalent amount of VOO/SPY in about 6 months

then I feel better about things, but this would be a short term gain, and taxed, I think if I keep the shares and sell my individual positions, it will be locking in shares that are going long, so I like that idea better

decisions decisions
wash sale rules bro

"

Buying Call Options​

If you sell stock at a loss, you’ll have a wash sale (and won’t be able to deduct the loss) if you buy substantially identical stock within the 61-day wash sale period consisting of the day of the sale, the 30 days before the sale and the 30 days after the sale. You’ll also have a wash sale if, within the wash sale period, you enter into a contract or option to buy substantially identical stock.

Example: On March 31 you sell 100 shares of XYZ at a loss. On April 10 you buy a call option on XYZ stock. (A call option gives you the right to buy 100 shares.) The sale on March 31 is a wash sale.

It doesn’t matter whether the call option is in the money. This is an automatic rule. If you buy a call option in this period, you’ll have a wash sale. And that’s true even if you never exercise the option and acquire the stock."

 

993kgt

building an airplane whee
Nov 7, 2001
17,360
Destin, FL
wash sale rules bro

"

Buying Call Options​

If you sell stock at a loss, you’ll have a wash sale (and won’t be able to deduct the loss) if you buy substantially identical stock within the 61-day wash sale period consisting of the day of the sale, the 30 days before the sale and the 30 days after the sale. You’ll also have a wash sale if, within the wash sale period, you enter into a contract or option to buy substantially identical stock.

Example: On March 31 you sell 100 shares of XYZ at a loss. On April 10 you buy a call option on XYZ stock. (A call option gives you the right to buy 100 shares.) The sale on March 31 is a wash sale.

It doesn’t matter whether the call option is in the money. This is an automatic rule. If you buy a call option in this period, you’ll have a wash sale. And that’s true even if you never exercise the option and acquire the stock."


Yeah, I've done SPY calls before and it doesn't match up to SWPPX

Not saying it's right, but just saying it wasn't an issue, perhaps because it's a mutual fund vs a stock/ETF ?

EDIT: last time I did this (2022), I sold SWPPX and bought VIG calls

it was equivalent to tracking market, but not a wash sale violation
 

stevezissou

OT Supporter
Jul 15, 2009
41,877
US
Yeah, I've done SPY calls before and it doesn't match up to SWPPX

Not saying it's right, but just saying it wasn't an issue, perhaps because it's a mutual fund vs a stock/ETF ?
"substantially similar" language is a catch all not sure you would win that argument if it were to get challenged.
 

jaspirr

OT Supporter
Jul 16, 2008
5,000
Delaware
final prediction for tomorrow

CPI 6.6
core CPI 5.8
rally premarket then 500 point drop by the end of the day. it's all priced in already from the last week of gains
 
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SkiMax

Well-Known Member
Dec 11, 2004
35,823
Chicago
final prediction for tomorrow

CPI 6.6
core CPI 5.8
rally premarket then 500 point drop by the end of the day. it's all priced in already from the last week of gains
CPI gonna surprise with a 5.99 off the top ropes and everyone going to sizzler
 

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