there are differing interpretations as to whether they're 1256 contracts
see this TurboTax expert response
https://ttlc.intuit.com/community/taxes/discussion/2025-tax-reporting-for-gld-etf-options/00/3538830
and here'ss a different viewpoint (older than above)
The IRS hasn’t clearly stated the tax treatment of sales of options based on ETFs. Writer's position is that options on securities ETFs that are organized as RICs are treated as securities and options on commodities ETFs structured as PTP are Section 1256 contracts. Tax treatment of options on precious metals ETFs is unclear; some tax professionals make a case for Section 1256 treatment as a non-equity option.
That's the issue, the IRS has not clarified whether these options are or are not 1256 contracts. Some brokers report them as 1256 contracts, while others, like yours, do not.
and here's another negative, even older
https://www.cxoadvisory.com/equity-options/are-etf-options-section-1256-contracts/
You can ask your broker if it will change the reporting. If not, your options are to accept that reporting or report as 1256 by zeroing out gain/loss on the 8949 (you have to keep it there because of the broker's reporting to the IRS) and enter on 6781. see instructions for Form 8949, probably type T.
if you go the 1256 route, you may want to disclose that you're taking a position contrary to the 1099-B reporting. This might protect you from certain penalties if the IRS were to conclude that they are not 1256 contracts.
