11

At the same time I bought around 30 put contracts of same stock which would equal to 3000 shares of same, all of them at a loss ranging from few hundreds to few thousands

please clarify what you mean by this. buying puts creates no loss until they are disposed of through sale or expiration 

however, buying puts does not create a wash sale even if you sold the underlying stock at a loss.  being long the put gives you the right to sell.  so you can buy back the put to close, let it expire unexercised or buy stock to cover the exercise of the put. only if the buy of the stock is done within 31 days of the loss sale of the stock would there be a wash sale.

a different story is you short the put. You can also turn a sale of stock into a wash sale by selling put options. This rule is not automatic. It applies only if the put option is deep in the money — and there’s no precise standard as to when a put option is deep enough in the money for the rule to apply. The rule applies if it appears, at the time you sell the put option, that there is no substantial likelihood it will expire unexercised. In this circumstance, selling the put option can be roughly equivalent to buying the stock.

@bigbunny101... and to follow-up on the response from @Mike9241, regarding question 1 -  No, it appears the wash sale does apply to your option purchase.  Options to acquire or options to sell stock are considered securities.  That means that if an option is sold at a loss and then replaced, it is included in the wash sale rule.

Regarding question 2 - please clarify what you mean.

Regarding question 3 - generally, brokerage firms follow the FIFO rule which is first in, first out.  Thus, as stock or options are sold, any losses from same will match to the initial purchase date.  In other words, you cannot chose to decide to match certain sales of options or stock to certain purchases of options or stock.  However, this is the general rule and you may be able to make other adjustments with your brokerage firm where you can select which sales of stock or options you want to match to which purchases.    

As a way of background, the Wash-Sale rule was created by the IRS to disallow the loss deduction from the sale of securities if repurchased by a seller or spouse within the Wash-Sale period. The Wash-Sale period is defined as 30 days before and 30 days after the sale date, totaling 61 days (including the sale date).  Thus, when you have a Wash-Sale the following applies:

• you are not allowed to claim the loss deduction
• an adjustment must be made by adding the loss to the cost basis of security repurchased
• the holding period of repurchased securities includes that of securities you sold