Depends on the size of your boat. Over a certain length ( can’t remember what it is) you have a stern light that is visible 180 degrees to the stern when under way and can also have an anchor light visible 360 degrees when at anchor. Under that length you have a single white light visible 360 degrees when under way with your running lights and also used as an anchor light, without your running lights, when at anchor.
With regards to Wolfeboro fire works: if the boats were not “at anchor” they are required to keep the running lights on with the stern light. It is a violation to just show your white light (without running red & green) when you are not at anchor.
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