Hey all. I sold a large NVDA put position at a loss last week because I bought them too short-dated at the bottom and knew that the stock would revisit its 50- and 200-day moving averages once it bounced, which it should do Monday. I would like to open new put positions on Nvidia, but my losses were quite deep on the last put position, so I don't want to trigger the wash sale rule and eliminate the deduction tied to the losses.
Does anyone know whether the wash sale rule would apply to a leveraged "ETF" that really is just double exposure to a specific stock, in this case Nvidia, e.g., NVDL, which is a 2x long Nvidia derivative? ETFs are supposed to be a work around to the wash sale rule, but I can't find anything definitive anywhere that states whether single-stock-specific ETFs would fall under that umbrella and be similarly excluded from the wash sale rule.
And yes, I know I can just comfortably buy puts on a semiconductor ETF with large NVDA exposure, but I think NVDA will greatly underperform others in the sector and would like more direct exposure.
All thoughts are welcomed, and I thank you all for your time.