downloaded sell transaction is showing as "buy to cover"

kalkan65

bought several options (not covered calls) and the buy xacts downloaded just fine. after selling them, the transaction shows in the register as "buy to cover", which is incorrect. OFX log shows trans type = "sell to close" so I am getting the correct info from TD ameritrade,

when i click on the buy to cover transaction and select "specify lots", it shows only one share assigned and 99 unassigned. only thing I can think of is the the number of options (1) is getting mixed up in quicken with the number of shares (100).

any assistance is appreciated. i am on mac quicken deluxe version 5.14.3

kalkan65

also, if i manually change the buy to cover to a sell, the next download re-imports the same buy to cover transaction with an identical FITID

BMK1

When I "Sell to Close" an option it shows up in transactions as a "Buy to Cover" transaction. What is happening? In The memo it states SELL TRADE.

Quicken_Natalie

Hello @BMK1,

Thank you for taking the time to report this issue to the Community, although I apologize that you have not yet received a response.

The Community may need a bit more information to be able to assist further with this. Please take a moment to review the information available here and post back to let us know what version/release of Quicken you're using.

The more information you can provide regarding this issue will help the Community to better understand and assist.

Thank you,

Quicken Natalie

BMK1

I am using the online version and it is up to date.

Rocket J Squirrel

How did you open your position in the option? Was it a Buy or Short Sale?

BMK1

Buy To Open

Rocket J Squirrel

BMK1 said:

I am using the online version and it is up to date.

There is no "online version" and what is "up to date" today won't be up-to-date in the future when someone else reads this. So we ask for actual Quicken version numbers.

BMK1 said:

Buy To Open

Well, obviously Sell to Close would be the way to close that position. Sorry to say I'm a Windows user, but this smells like a potential bug in QMac. Are you an experienced options trader and have you ever encountered this before?

BMK1

Rocket I appreciate your help, but your tone is a little heavy. I'm using the subscription "online " version. Whatever version that is?
Thanks BMK

smayer97

Ar you saying you are using the Mobile version, that is on a mobile device? If so, what is being asked is what version of the Desktop app are you using. Go under the Quicken menu and select About Quicken.

BMK1

I am using a desktop subscription version for my IMAC------Version 5.14.3 (Build 514.31897.100 macOS 10.15.3

Thanks BK

Rocket J Squirrel

[I see what happened. While I was in the middle of composing a post pointing to another thread with the same issue, the threads got merged so I was pointing right back here. As Dorothy Gale might say, "Threads come and go so quickly around here."]

John Pane

I am having exactly the same problem with my TD Ameritrade account.

I am using Version 5.14.3 (Build 514.31897.100) on macOS Catalina 10.15.3.

John Pane

Whether I correct the transaction, delete it, or leave it there in its incorrect state, another one downloads every time I connect.

John Pane

@Quicken_Natalie, although this thread has been marked as "answered" the only thing answered is how to determine the software version.

This issue is not resolved. How can we make sure the developer team is aware of it?

Quicken_Natalie

Hello @John Pane, @michael.szypula, @BMK1 & @kalkan65, 
 
Thank you for reporting this, although I apologize for the delay in a follow-up response.

I have sent each of you a private message via your Community Inbox to gather some more information so that we can get this reported as a potential bug.

To locate your Community Inbox, please navigate to the top of this page and click on the "Inbox" icon: 



Please let me know if any of you have any difficulties accessing this.

Thank you,

Quicken Natalie

John Pane

Shortly after I made my last post, the problem stopped happening just as mysteriously as it started. I am assuming something was going on at the server side since I don't think a new version was released.

(PM also sent)

John Pane

Unfortuanately, I had another similar transaction and the same issue has recurred. PM sent to @Quicken_Natalie

kalkan65

any updates to this issue?

Quicken_Natalie

Hello All,

Thank you for your continued patience as this issue is being researched.

I will be sure to post back with any updates as they become available to me. 

Thank you,

Quicken Natalie

Quicken_Natalie

Hello All,

Thank you all for your patience; a Bug Ticket has now been opened for this.

I will continue to post any updates as they become available.

-Quicken Natalie

CTP-636

John Pane

Thank you Natalie!

Concordman

Sadly, I am quite familiar with the issue discussed here, Quicken in its present state does not understand the difference between selling a call option & selling covered calls. Have seen this in both multiple investment accounts, in my case WFA & Schwab. Also after correcting the "buy to cover" to sell , the issues will repeat for about 7-10 download days. After that time period Quicken gives up .

There are still serious equivalency issues in QM vs Qw in the investment area. Recently dealt with two stocks having spin offs..Gardner Denver to Ingersoll Rand & Arconic to Howmet & Arconic (Pittsburgh). Was able to make it work but a painful experience.

IMHO, Qm is superior to Qw in many areas but the investment area is not one of them.

Oreoguy

I am having exactly the same problem as described above. Very frustrating and time consuming to repeatedly correct. Hopefully this gets fixed in the near term.

Quicken_Natalie

Hello All,

I am happy to report that a fix for this will be included in the upcoming 5.17.0 release.

There is currently no ETA on when the release will be available, however, please be sure to post back if the issue persists after upgrading to this release.

Thank you,

Quicken Natalie

kalkan65

thx...looking forward to it

jacobs

Note that as of May 1, we are on version 5.15, so the fix which Quicken_Natalie mentioned above is coming in version 5.17 is two major releases away. I just didn't want people to misunderstand and expect to see this imminently.

Version 5.15 came out at the beginning of March. Based on past history, version 5.16 will likely be out sometime this month, so version 5.17 is likely in the late June-July timeframe. (Major releases seem to typically come about 6-10 weeks apart, depending on the complexity and testing.)

Nonetheless, thanks to the users who continued to report this issue, and the moderators who picked up on it and got it to the developers to investigate and put on their roadmap to tackle. Sometimes issues linger for a long time because the path to getting the attention of the developers isn't easy -- so it's nice to see this as a 'win' for the users who sell options.