[jjav]

> If you write a covered call, did you "use" the asset? Yes

This wouldn't make any sense, you didn't use it (unless the call gets exercised).

So you have 200 shares and write 1 call, you'd pay tax on the appreciation of just 100 shares? Then sell another call next week, pay taxes again?

> What about presenting your brokerage statement as proof of assets to a mortgage banker? Of course not

I though it was simple. Now the loopholes start to appear.