Wash sale clarification on options trading

Question

If I buy deep in-the-money put options, and sell not so deep in-the-money (higher strike priced) put options and if both expire worthless, will I not be allowed to deduct the loss incurred from the first set from the gains accrued on the second since the two sets might be considered as "substantially identical securities"?

Bob Baerker · Accepted Answer

A long put is not substantially identical to a  short put so there could be no wash sale.
To trigger a wash sale, one would have to acquire a substantially identical security within 30 days before or 30 days after realizing a loss on one (or both) of these securities.

Wash sale clarification on options trading

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