James, you haven't sold any options in those circumstances, you have exercised them. They are a cost of your shares.
So if you bought options at 4c and exercised them for 16c, your cost per share is 20c. If you sold at 25c your taxable per share is 5c, not 9c.
I hope that's clear.
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James, you haven't sold any options in those circumstances, you...
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