Sorry. That was, I suppose, inartfully worded. In June, I had roughly 12000 shares that I purchased over a couple of decades. All of the shares were long-term. I sold 7000 shares. Some of those shares were covered, some weren't. In trying to predict my what my taxable gain would be, I added up what I paid for all of the shares I held on the date of sale, then divided that by the total number of shares I held on that date. I believed that to be my average cost per share. I multiplied that number by the number of shares I sold, then subtracted that number from the proceeds of the sale believing that to be my taxable gain from the transaction. If the transaction is split into two "sales," one of the protected shares and one not protected, the average cost per share of the larger block is driven down resulting in more taxable gain.
