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Question

Rudy bought $10$ shares of Lucky, Inc. stock on Nov $20$ last year.$$ Rudy paid $$20$ for each share. It appeared that Rudy made a good investment, as the price of Lucky, Inc. stock rose to $$50$ per share on April $1$ of this year.$$ However, the price suddenly dropped on rumors of litigation.$$ On Sept. $10$ of this year Lucky, Inc. declared bankruptcy and announced that the stockholders should not expect to receive anything on the liquidation of the corporation.$$ What type of loss does Rudy have this year, if any?

A$.$Rudy does not have a loss because he did not sell the stock.

B$.$Short$-$term capital loss of $$200$

C$.$Short$-$term capital loss of $$500$

D$.$Long$-$term capital loss of $$200$