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Well, looks to me that if you close the short and also simultaneously sell the 50 you bought at 247, then you have effectively lost $31 a share, not counting commissions, no matter what the price. The loss or gain on your remaining shares all depends.

Since you're still ahead on your total transaction, you might wish to consider this money well spent.

I have a cousin who is pretty handy, but occasionally he has to call in workmen or builders to fix a job he can't do, or did wrong. He calls the money he pays them "tuition fees."

Regarding taxes, it's all short term on Schedule D if you sell relatively soon.
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