<< << Say I own 100 shares of company D, a relatively undifferentiated firm with several public competitors with very similar businesses. The stocks of all these firms move pretty much in tandem. Lets say company D is down 30% from where I bought it. If I sold the shares of company D and put that money immediately into a similar competitor whose shre price is down 27%, am I in danger of running afoul of the wash sale rule? >> >><< No. This is not a wash sale. The fact that the two companies are in the same sector doesn't make their stocks substantially similar. >>This brings up a question I had. Is it considered a wash sale if you have a cap. loss after selling a call/put option and then buy the underlying stock within the 30 day period?
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