I closed 10 short calls and 1000 shares of MRO (half of my position that was held for just over a year) for long term gains this morning. The process was a bit more tedious than I thought because the calls were not very liquid right at market open.
I also chose to specify the lots to sell instead of using FIFO (First in First Out), so I would guarantee that the 1000 shares bought slightly earlier were sold. The other 1000 shares haven’t qualified for long term gains yet (off 2 days). If I messed this up, it would have been a disaster because I would be paying short term capital gains taxes instead of long term capital gains taxes.
ORCL surprisingly hit my profit exit at 71.9 so I sold the position.