Options Portfolio Tracking

thecattlemanswife

Looking for better solution than Quicken w Excel for tracking options trades/portfolio/performance. I have Deluxe 2017 - not sure if 2019 would offer any extras.

Example, I have 100 shares of AMZN which I write calls on (covered call strategy) and each Call is added into Quicken as a new security (because it is a new security) and is closed out when it expires/assigns. So for me to get a actual COST of AMZN itself (considering the underlying share price, any dividends, all premiums received) I have to track in Excel.

When tracking short puts - I am having to keep a the separate "actual" cost in Excel instead of Quicken so that the cash/investment transaction is not altered. IE. Short put for MMM @ 175 for $4.50, actual cost of underlying 3 M shares is $170.50 and not assigned price of $175. Though the transaction in my brokerage account needs to record $17,500 for the lot rather than $17,050.00 - thus tracking separately in Excel

I hate to think I am jumping through these hoops if there is a database option out there for what I am trying to do. It's not a unique strategy, so I imagine there is something out there.

I'd like to be able to track all income received from the underlying equity in a single database - does anyone know if 2019 has this ability?

K.O. (Win-Premier)

Hey there.

I've been trading options for years (10) and using Quicken for around 25 so I like to think I'm pretty in tune with both items.

Unfortunately the current subscription version does not address the issues you have raised.

Quicken has many holes as it relates to tax tracking of investment transactions.  As you have identified, covered calls is one of them.  In your reference to short puts I'll assume you mean if you get assigned Quicken does not track the tax basis correctly. If you do not get assigned Quicken will track them correctly.

I too track my investment transactions and performance in a spreadsheet and I rely on my broker's statement for all tax related information.

I'm sure this is not the answer you were looking for.  You are welcome to message me directly if you'd like to discuss anything in detail.

Kevin

jr7107

You might try tax specific software,I pay for annual subscription like Q to get accurate cost basis when working with option premium sale, and exercises etc. I use Q to track all my option trades, but when it comes to taxes for the basis I rely on the tax software.

As for adding a new security every time, I just reuse a handful of "pseudo" option positions that I match to online everytime I download. It keeps my security list clean, as there is a limit I believe that can be hit at some point.

K.O. (Win-Premier)

Hey there.

I've been trading options for years (10) and using Quicken for around 25 so I like to think I'm pretty in tune with both items.

Unfortunately the current subscription version does not address the issues you have raised.

Quicken has many holes as it relates to tax tracking of investment transactions.  As you have identified, covered calls is one of them.  In your reference to short puts I'll assume you mean if you get assigned Quicken does not track the tax basis correctly. If you do not get assigned Quicken will track them correctly.

I too track my investment transactions and performance in a spreadsheet and I rely on my broker's statement for all tax related information.

I'm sure this is not the answer you were looking for.  You are welcome to message me directly if you'd like to discuss anything in detail.

Kevin

jr7107

You might try tax specific software,I pay for annual subscription like Q to get accurate cost basis when working with option premium sale, and exercises etc. I use Q to track all my option trades, but when it comes to taxes for the basis I rely on the tax software.

As for adding a new security every time, I just reuse a handful of "pseudo" option positions that I match to online everytime I download. It keeps my security list clean, as there is a limit I believe that can be hit at some point.

smayer97

K.O. (Win-Premier) said:

You are welcome to message me directly if you'd like to discuss anything in detail.

Kevin

BTW, new members in the forum cannot message directly. They need to attain a certain status first. 

thecattlemanswife

KO - its good to know that a newer version (or even current version) cannot do what I am seeking. The thought of a "solution" lurking out there always makes me crazy - helpful to know it's not there! So to track two cost basis; use Quicken for tax and Excel for trading - no Quicken based solution. (I do most of these in IRAs and ESAs, so tax basis is not that important)

Jr - How are you creating "pseudo" securities? I thought about entering Covered Calls as dividends rather than actual security - but that seems like it would cause more problems with tracking MV and history of strikes/premiums. I searched for "Q" subscription, couldn't find - what is this? Is this research or tracking? Would be interested in another software like Quicken but for enhanced investment portfolio management, without the trading platform - as I do not need and just seems to complicate things even more. Looking for a Trading Journal I suppose - but a actual one and not the "free" ones with phone apps.

Thanks for responses!!

Jim_Harman

Q is Quicken, subscription is shorthand for the current version.

jr7107

Pseudo-securities, I create a generic position with no ticker and call it "AMZN Covered Call Option". And I could have multiple, I, II, III, IV etc. When I download the transaction, I match the option position to the pseudo position. I reuse that position after expiry, assignment or sale/cover. This ways option securities don't pile up in my Security List, and I can still track what I need to in Quicken (I shorten it to Q or QWin). The option ticker is tracked in the memo field if you need to review. Given the nature of options likely you have a trading platform to monitor.

I use Q to track cash and shares. For tax I use software called Trade Log. Not advice or endorsement, just what I use.