Canadian tax questions about options

[beerbaron]

Hi I have a questions for my fellow Canadians in regards to taxes on options.

 

If I wrote a contract for 10 AAPL at a 400$ Strike, Expires Jan 2015 about and I don't want to maintaing the full liability +  I don't want to pay taxes on the puts. Can I buy 10 AAPL at a 395$ strike to limit my total exposure to 50$?

 

Would that qualify as equivalent to buying back my 400$ Puts and hence recognizing the gain?

 

Thanks

BeerBaron