Quicken Community is moving to Single Sign On! Starting 1/22/21, you'll sign in to the community with your Quicken ID. For more information: http://bit.ly/CommunitySSO

Unhappy with Mac 2017 ability to handle options trade

Unknown
Unknown Member
edited November 2018 in Investing (Mac)
I have switched from Quicken for Windows to Quicken for Mac 2017, and I cannot express how supremely disappointed I am in its ability to handle options trades.  Nothing is working correctly and it is essentially downloading garbage.  It is treating short option sales as "expired", for example.  It is continuing to add "placeholder" transactions to compensate for the contract quatity (i.e., 2) vs. the share equivalent (i.e. 200).  Because Quicken won't download the transactions into a separate window and let me add them into the register manually (like Windows did), nor will it let me edit the bogus transactions to fix them, it looks like all my options trades will now have to be entered in manually.  All of this worked find in the Windows version.  They need to port all that code over.


Note: This conversation was created from a reply on: Options.

Comments

  • Unknown
    Unknown Member
    edited July 2018
    Unfortunately I'm dependent on this application and there is no viable alternative.  I guess there needs to be!  I completely understand your frustration.
  • hyperstock
    hyperstock Member ✭✭
    edited January 2017

    Unfortunately I'm dependent on this application and there is no viable alternative.  I guess there needs to be!  I completely understand your frustration.

    yea but where is quicken it trying to fix the problem.  i assume i am not the only one to have called them on this.  they certainly do not care to fix it that is for sure.
  • john.easterday
    john.easterday Member ✭✭
    edited July 2018
    Agree, it just sucks! 
    not only will it not take negative unit values for written puts, it won't handle quantities correctly either. So if I own 2 options representing the option to trade 200 shares, it won't let me say 2, it wants 200. I have to put in a bogus price or a bogus quantity. Therefore I don't even use quicken for my stocks, useless!!!
  • Concordman
    Concordman Mac Beta Beta
    edited November 2017
    Agree the options re a definite short coming in QM, best to delete with them manually, there have been several threads on how options can be handled in QM. Search for those and let us know what you think. 
  • cneal
    cneal Member ✭✭
    edited November 2018
    Two months ago I opened a ticket with Quicken on options handling. I thought it had simply died after a single morning of providing data. Monday I was contacted for additional information and spent a large part of yesterday wrtting up details and providing logs and screenshots. There may be hope. But with the severity of the underlying problems and the difficulty of working with the OFX implementation of many brokerages I don't think we can expect anything quickly.
  • Concordman
    Concordman Mac Beta Beta
    edited April 2017
    cneal said:

    Two months ago I opened a ticket with Quicken on options handling. I thought it had simply died after a single morning of providing data. Monday I was contacted for additional information and spent a large part of yesterday wrtting up details and providing logs and screenshots. There may be hope. But with the severity of the underlying problems and the difficulty of working with the OFX implementation of many brokerages I don't think we can expect anything quickly.

    Many thanks for the update on the activity. Suspect it will be a function time & resources
  • Unknown
    Unknown Member
    edited April 2017
    Wait until you have a spin off like YUM and YUMC. It was always confusing enough in Quicken for Windows, but there is no Spin Off option in Quicken for MAC.
  • Concordman
    Concordman Mac Beta Beta
    edited November 2017
    It can be done, just went through this with Alcoa spinning off ARNC, it's painful but doable
  • Unknown
    Unknown Member
    edited November 2018
    I could just show zero basis and pay the taxes and be money ahead on that. Already spent an afternoon trying to figure it out.  LOL
  • Concordman
    Concordman Mac Beta Beta
    edited November 2017
    Check out the threads on the Alcoa spin off perhaps it can help
  • cneal
    cneal Member ✭✭
    edited April 2017
    CalCarter said:

    I could just show zero basis and pay the taxes and be money ahead on that. Already spent an afternoon trying to figure it out.  LOL

    Use the Add cost basis wizard. use sell instead of sell short. You should have a zero cost basis. Then when you close the position edit the transaction to 'Sell Short' and use 'Buy to Close' for the new transaction. You will have the Buy to close cost for the cost basis. Of course, if you have option open across the year end it won't work. 

    If you buy two lots of the same call the tax schedule report gets very confused.  I sold five calls and later sold another call for the same stock strike and expiration. The report has three lots. five, six and five.
  • Unknown
    Unknown Member
    edited March 2018
    This reply was created from a merged topic originally titled Options trading in Quicken Mac still buggy..


    When are the bugs going to be fixed in Quicken Mac for Options trading.  I know that detailed trades are not downloaded from etrade,  but even when entering transactions manually, there are still bugs.  When you enter a position total cost, number of shares, commission, in order to get the per unit price you type number of shares, not the number of contracts.  But when you save in quicken for mac, it multiples number of shares by 100, causing the total to be incorrect and cost basis to be incorrect.  you can then retype over shares to correct but cost basis is still wrong.  Its been a couple of years, when is this going to be fixed!
  • Concordman
    Concordman Mac Beta Beta
    edited March 2018

    This reply was created from a merged topic originally titled Options trading in Quicken Mac still buggy..


    When are the bugs going to be fixed in Quicken Mac for Options trading.  I know that detailed trades are not downloaded from etrade,  but even when entering transactions manually, there are still bugs.  When you enter a position total cost, number of shares, commission, in order to get the per unit price you type number of shares, not the number of contracts.  But when you save in quicken for mac, it multiples number of shares by 100, causing the total to be incorrect and cost basis to be incorrect.  you can then retype over shares to correct but cost basis is still wrong.  Its been a couple of years, when is this going to be fixed!

    Totally agree options trading in QM is challenging, no visibility as to when they are going to fix this, there are so many other investment issues that need attention
  • Unknown
    Unknown Member
    edited August 2018
    Does any one have a good workaround? If you delete the placeholder it changes your account balance. I was doing this and adding my option trades manualy. Not sure what I should do?
  • Concordman
    Concordman Mac Beta Beta
    edited May 2018
    Ron said:

    Does any one have a good workaround? If you delete the placeholder it changes your account balance. I was doing this and adding my option trades manualy. Not sure what I should do?

    I posted an intense disertation on this subject  in 2016 or 2017, cant recall. When you locate the placeholder you will need to edit it as either a buy/sell , depending on what your doing. QM has an issue understating how to work with contracts so you will need to put in the shares, than make sure the price is correct. Its not going to show up correctly in the PV but it will show up correctly in the Tax Schedule under Schedule D. If you need something further feel free to note exactly what you doing ie PUTS/CALLS, etc
  • Unknown
    Unknown Member
    edited May 2018
    Ron said:

    Does any one have a good workaround? If you delete the placeholder it changes your account balance. I was doing this and adding my option trades manualy. Not sure what I should do?

    Thanks for the response. I will search for your dissertation. I buy and sell both puts and calls. I am just searching for how to edit the placeholders that Quicken places in my register to replace my brokers download since Quicken cannot currently handle Option trades. 

    I am tempted to just disable downloads from my broker and enter them all manually unless someone can provide a better alternative.

    Thanks for all input, it is veery much appreciated!
  • Concordman
    Concordman Mac Beta Beta
    edited May 2018
    Ron said:

    Does any one have a good workaround? If you delete the placeholder it changes your account balance. I was doing this and adding my option trades manualy. Not sure what I should do?

    The placeholders can be located at the beginning of the register ; if there is indeed no placeholder transaction you may need to simply generate the transaction, locate the option under security in the transaction then complete the transaction process.
  • Concordman
    Concordman Mac Beta Beta
    edited May 2018
    Ron said:

    Does any one have a good workaround? If you delete the placeholder it changes your account balance. I was doing this and adding my option trades manualy. Not sure what I should do?

    Have to agree , the investment module in QM , the options in particular are very bad. The key for me is that while it is painful & not accurate in the PV it is correct in the Tax Schedule after the total trade is completed
  • Unknown
    Unknown Member
    edited May 2018
    Ron said:

    Does any one have a good workaround? If you delete the placeholder it changes your account balance. I was doing this and adding my option trades manualy. Not sure what I should do?

    What is the PV?
  • Concordman
    Concordman Mac Beta Beta
    edited May 2018
    Ron said:

    Does any one have a good workaround? If you delete the placeholder it changes your account balance. I was doing this and adding my option trades manualy. Not sure what I should do?

    Sorry , PV is the Portfolio View
This discussion has been closed.