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Author: edcosoft Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: option liability Date: 10/9/1999 2:49 PM
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I had stock called away (a call option that I sold was exercised), and bought stock the same day
to "cover" it. Can I use the stock I bought as the shares called away for capital gains
consideration?


Yes, that makes it a short term transactions. I presume you hold long term shares which you don't want to sell, which is O.K.

Can I notify my broker to select the shares I just bought as the ones I want
delivered?


Yes, you have to, otherwise the oldest shares you own (FIFO) are the ones sold. Supposedly you have to get his confirmation in writing to "adequately identify" the shares you sold. Good luck!!.
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