Not sure what your point is. These are actual quotes from the tax code. There is a definition of "Security" for tax purposes which encompasses equity and debt obligations and does nowhere add "and everything else that Rod1 considers a security". It further states that some derivatives on such "Securities" (note the capital letter = defined term) are also exempt from tax. Hence, equity, equity index, and fixed income based options, futures, and forwards are exempt. Everything else needs to be analyzed in detail within your planning process or it will be clarified in your tax accounting process with potentially unexpected outcomes.