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2. A writes 15 100 IBM July calls for $4 each on March 7, 2018. A closes out their position on March 23, 2019 for

2. A writes 15 100 IBM July calls for $4 each on March 7, 2018. A closes out their position on March 23, 2019 for $6 each. How much is As gain or loss and is it long-term or short term. What would the result be if the options lapsed?

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