A customer buys an ABC July $50 call in a non-qualified account paying a $3 premium Seven months later, if the customer has sold the option @$8 instead of exercising the option, the profit would be taxable (ignoring brokerage costs) at: O a $500 short term capital gain a $800 long term capital gain As an ordinary option gain of $700 an ordinary loss of $500 none of the above is correct