Question 15 A taxpayer reported the following information in years 20x1 and 20x2: 6/15/x1: buy a put option on 50 shs of BIG Corp for $1,500 12/1/x1: buy a call option on 50 shs of BIG Corp for $1,250 12/15/x1: sell the put option for $1,300 12/31/x1: the call option has a fair market value of $1,275 6/30/x2: sell the call option for $1,400 What is the amount and character of taxable income/loss recognized in 20x1? o $225 short-term capital loss a. $175 short-term capital loss a $200 short-term capital loss C. d. $175 short-term capital loss and $25 short-term capital gain