- Joined
- Nov 27, 2014
- Messages
- 9,325
I've been playing with options. This is essentially gambling and I'm risking very little. I'm just learning and wondering if someone can answer a few questions.
First - I have 21 trades (buys and sells, so actually 42 trades) for March. If I do this all year, there will a ton of transactions. Is the tax return a pain? Or, do you just download the information into Turbo Tax from the brokerage and you're all set?
Second - I'd like to do something that I can't figure out how to do. Say I buy an option at $1. I know how to put in a limit order for it to sell if it increases to say $1.25 and I know how to put in a stop order to sell if it decreases to say $.75. What I want to do is both. Is there a way put in an order to sell it if it drops to $.75 or increases to $1.25 so I don't have to pay attention to it after I buy it?
Thanks.
First - I have 21 trades (buys and sells, so actually 42 trades) for March. If I do this all year, there will a ton of transactions. Is the tax return a pain? Or, do you just download the information into Turbo Tax from the brokerage and you're all set?
Second - I'd like to do something that I can't figure out how to do. Say I buy an option at $1. I know how to put in a limit order for it to sell if it increases to say $1.25 and I know how to put in a stop order to sell if it decreases to say $.75. What I want to do is both. Is there a way put in an order to sell it if it drops to $.75 or increases to $1.25 so I don't have to pay attention to it after I buy it?
Thanks.