Wash Sale Day Trading – Example Please confirm if I’m right or wrong

This example pertains to day trading and all of the following transactions occurred in the same trading day:

– Purchase ABC – 100 Shares @ $5 = $500

– Sell ABC – 100 Shares @ $4 = $400 (Realized Ordinary loss of $100)

ABC Stock then drops even further

– Purchase ABC – 100 Shares $ 2 = $200 (Triggering a wash sale and thus increasing the actual cost basis from $200 to $300 due to the $100 realized ordinary loss earlier in the day)

– Sell ABC – 100 Shares $2.50 = $250

Total realized gain/(loss) on the day trades is a loss of $50