if you trade options how are they taxed?

ok ppl dis is probably a strange thread, hopefully there will be someone who can help me on this.

well im 17 years old and i want to know first of all that am i legally allowed to trade options (only simple call and put options) and if i am how are they taxed? like if i make a profit or loss on them how is that taxed? can someone please let me know about this.

would think at income tax rates rather than cgt but am open to correction onthis...........maybe leaps at cgt?.....I am taxed at cgt on these.

well can any one confirm this? also my originial question that do i need to be 18 to trade options or can i do it now? at the age of 17?

(whts cgt mean? capital gains tax or somethin else?)

appreciate if anyone can clarify this.