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QWIn 2017 H&B: Stock's PUT option transaction incorrectly downloaded
I'm using Windows 10 and Q H&B 2017. I do "Stock OptionSpreads", and Q sometimes gets it right, but too often Q fails to get the"closing" transactions correct. For clarification, let me juststate that a "spread" trade involves 2 phases... Specifically anOPENING phase, and a CLOSING phase. With a "spread," theOPENING portion always involves both a BUY trade and a SELL trade (referred toas BUY TO OPEN and SELL TO OPEN (respectfully). Sometimes (but NOTalways) the CLOSING portion involves 2 trades also... For example, the optionthat initially was "sold" (i.e., the SELL TO OPEN option), will beterminated via a BUY TO CLOSE trade. And sometimes the option that wasinitially "bought" (i.e., that BUY TO OPEN option trade), willlikewise be terminated via a SELL TO CLOSE trade. As I mentioned, it's these"CLOSING" trades where the download "misrepresents" theACTUAL "ending of the position" when the CLOSING phase takesplace. Now, the PROBLEM IS: Sometimes the CLOSING PHASE involves NOactual transaction. Stated another way, sometimes there is "NO" BUY TO CLOSE or SELL TOCLOSE transactions because an EXPIRATION DATE has been reached, When theExpiration Date is reached, if an Option has NO MARKET VALUE, the books areclosed and the Options are said to have "expired"... and the buyerand the seller do nothing. Today I downloaded 2 CLOSING transactionswhich "expired" worthless 9/15/17. The "long"position (the initial BUY TO OPEN), was CORRECTLY reported as REMOVED - SHARESREMOVED. However, the "short" position (the initial SELL TO OPEN) wasreported as ADD - SHARES ADDED. THAT IS WRONG!!! ...because the when the ACCOUNTHOLDINGS page is brought up, that "short" position should NOT appearbecause it EXPIRED Worthless (but it isthere). To correct this, I'll have to manually change the SHARES ADDED to a"COVERED SHORT for $0.00" in order for the ACCOUNT HOLDINGS page tobe "correct"... this should not be necessary. Something in the way either FIDELITY isreporting it or Quicken is interpreting it is not correct. This has been a problem for several months. What can be done? I shouldn't have to make this type ofcorrection!!!
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