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How to sell worthless options before expiry?


vinod1
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I have a few HP options with a strike price ($30) way above the current price and expiring in Jan 2013. I have put a market sell for the last 2 weeks on IB but it is not getting executed. I would sell it for $0 or even even a negative price if I can to take advantage of the tax loss but IB does not allow me put  any number below $0.01 if I do a limit order.

 

Does anyone know of a way to get rid of these options in a way I can claim tax loss? This is a minor amount so I can let it expire and take the tax loss for 2013 but just wanted to see if there is any other way.

 

Thanks

 

Vinod

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I have a few HP options with a strike price ($30) way above the current price and expiring in Jan 2013. I have put a market sell for the last 2 weeks on IB but it is not getting executed. I would sell it for $0 or even even a negative price if I can to take advantage of the tax loss but IB does not allow me put  any number below $0.01 if I do a limit order.

 

Does anyone know of a way to get rid of these options in a way I can claim tax loss? This is a minor amount so I can let it expire and take the tax loss for 2013 but just wanted to see if there is any other way.

 

Thanks

 

Vinod

 

Put a sell order at $0.01 and ask (pay) a friend to buy them.

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I have a few HP options with a strike price ($30) way above the current price and expiring in Jan 2013. I have put a market sell for the last 2 weeks on IB but it is not getting executed. I would sell it for $0 or even even a negative price if I can to take advantage of the tax loss but IB does not allow me put  any number below $0.01 if I do a limit order.

 

Does anyone know of a way to get rid of these options in a way I can claim tax loss? This is a minor amount so I can let it expire and take the tax loss for 2013 but just wanted to see if there is any other way.

 

Thanks

 

Vinod

 

Put a sell order at $0.01 and ask (pay) a friend to buy them.

 

Thanks! I had that thought but not sure if that would go through. I have seen the options trade at $0.02 while mine is not getting executed.

 

Vinod

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