Alphabet fund buys a call option for 100 shares of ABC stock on January 5, 2017. Alphabet fund buys a put option for 100 shares of ABC stock on January 6, 2017. The fund option on December 31, 2017 for a loss of $11.00. On December 31st, the put option shows an unrealized gain of $5.00. Identify the type of financial transaction and explain the tax ramifications Alphabet fund buys a call option for 100 shares of ABC stock on January 5, 2017. Alphabet fund buys a put option for 100 shares of ABC stock on January 6, 2017. The fund option on December 31, 2017 for a loss of $11.00. On December 31st, the put option shows an unrealized gain of $5.00. Identify the type of financial transaction and explain the tax ramifications