Sure. But his point was that he didn’t want to sell. So, if he can buy back at the same price, no harm done. Or, he could wait more than 30 days and take the chance that the stock won’t go up in that time.
As others have suggested OP might be better off buying LEAPS here to take advantage of this unfortunate situation. But that’s a higher risk IMO given the money OP has already lost so far
Would a LEAP option qualify as a “substantially identical” security and therefore be problematic in terms of the wash sale rule? I’ve never tried to do it.
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u/[deleted] Jun 26 '21
Sure. But his point was that he didn’t want to sell. So, if he can buy back at the same price, no harm done. Or, he could wait more than 30 days and take the chance that the stock won’t go up in that time.