Writing options for tax harvesting?

[noob_trad3r]

I have calls for SPY that will expire and I will get assigned (3% loss, would have been much worse without the calls as a hedge)

Now when I get assigned and have the cash, if I write OTM puts for SPY as long as the option expires over 30 days (ie lets say 34 days etc..)

I get put, this will not count as a wash sale right?

because I wrote a put contract I did not buy SPY again, I just collected a premium correct?

I would like to take advantage and offset some of my gains.

 

[spindr0]

FWIW, one chain for this would be a lot easier...

It's a wash sale

 

[noob_trad3r]

Quote from spindr0:

FWIW, one chain for this would be a lot easier...

It's a wash sale

I tried to delete this thread but it would not. .

 

[Don87109]

Quote from spindr0:

FWIW, one chain for this would be a lot easier...

It's a wash sale

Spin,

Are you sure that's a wash sale?

He didn't re-buy the stock within 30 days and the Put was OTM and clearly not "substantially identical".

Don

 

[spindr0]

Are you sure that's a wash sale?

At this pont, I have no clue. The OP started 2 chains and it became clear that it was unclear what his positions and execution dates were.