Jump to content

How to sell worthless options before expiry?


vinod1

Recommended Posts

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

Link to comment
Share on other sites

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.

Link to comment
Share on other sites

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

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...