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Transferring Call and Put Options Between Accounts

I have brokerage and IRA accounts at USAA. They recently contracted with Schwab to take over all of their investment services. This occurred on May 26. All of my securities disappeared from my USAA account and reappeared in my new Schwab accounts.

I can no longer download transactions from my USAA accounts (because they no longer exist), and for whatever reason, I cannot setup Quicken downloads from my new Schwab accounts yet. I assume that will be fixed once the transition is complete from their perspective.

In the meantime, I added new Schwab accounts manually in Quicken and, using the New transaction Shares Transferred Between Accounts, I selected "All Securities". After a few minutes Quicken made the appropriate entries in both the old and new accounts. However, afterwards, I noticed there was still a negative security value in the old USAA accounts. Further investigation revealed that none of my sold Call options transferred, and the USAA accounts still show the presence of these options with a quantity of -100 for each. When I try and use the same transaction to transfer these securities from the old to new accounts, Quicken says I don't have enough shares, probably because it already shows a negative value.

I also tried to use the transaction "Remove - Shares Removed" from the old account but this did not work because of the negative share balance. If I use that transaction I end up with -200 shares rather than 0 shares in the old account.

I am using Quicken Premier 2020 version R26.23, build

Please advise your recommended approach for transferring unexpired sold options between accounts in Quicken. Thank you!

Best Answer


  • Dean Barsaleau
    Dean Barsaleau Member ✭✭
    Thanks for the workaround. Hopefully the coders will see this issue and fix in a future build.
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