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Downloaded exchange traded option transactions not handled correctly

This may be a Fidelity-specific problem. As options traders may know, Quicken expects the "shares" value to be the number of stock shares the option controls. After downloading my transactions from Fidelity, Quicken appears to deduct the transaction fee from the number of shares, e.g., the transaction fee ($2.12) changed the number of shares (300) to 297. A chat with Customer Support suggested that I run a price repair script, which I did and nothing was changed.
This seems to be an unacceptable bug for Fidelity customers who invest in exchange traded options.
There is an additional problem with options symbols which I will post about separately.
Unrelated question: Why do my cursor controls not work in the Tags field?

Answers

  • dougf44
    dougf44 Member ✭✭
    This may be a Fidelity-specific problem.
    I downloaded investment transactions from Fidelity. One of the transactions that I was asked whether to accept was:
    Expired PUT 4713109XV (SO200612C57.5)
    If you know options symbols, SO200612C57.5 refers to an SO June 16 2020 CALL at a strike price of $57.50. Clearly the PUT and CALL are contradictory. My Fidelity statement doesn't specify the CUSIP (4713109XV) code, so I'm not sure where Quicken's information came from.
    A chat with Customer Service resulted in about 45 minutes of wasted time, after the agent disconnected.
    Apparently there is no way (other than possibly this forum) to communicate problems in writing to Quicken (e.g. email or snail mail).
    Guys, this is a bug, not a feature. If you can't support exchange traded options, please say so up front. My main reason for moving from Quicken 2000 to Quicken 2020 was to save time by downloading trades from Fidelity. Quicken 2000 can't do that, but right now Quicken 2000 is better.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    @dougf44

    Help -> Report a problem...
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • miklk
    miklk SuperUser, Windows Beta Beta
    Quicken handles options the same as any other security and it does it fine. You need to watch what it says when 1st downloaded to ensure it is matched to the proper security. It mainly gets complicated by the large number of option names and symbols that the user needs to be careful when accepting the transactions.

    I do not have Fidelity so can't speak directly to that but Many FIs do not encode some transactions properly which can confuse Quicken (Especially closing expired options). I would suggest NOT using automatic enter into Registers so you can review or edit the transaction if needed before accepting them. (Edit/Preferences)

    Fidelity uses Direct Connect so the info is completely encoded and sent by Fidelity and Quicken just tries to enter it as received. (You can see what is being sent to Quicken in the log files if wanted)

    As for Put vs Call you downloaded, when you 1st download a security, it asks you if it is a new one or an old one to match so you need to be careful when accepting the name (I suspect you have a mismatch). Check your security list and you may see the problem there. You can just edit the wrong security transaction to change the expired option to match the option you actually had.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
    Actually I will admit something, that based on what @miklk said, I must have had the wrong impression all these years.  I'm not an options trader, so I was going based only on all the complaints I have seen on the subject and thinking that the fault was with Quicken.
    Signature:
    (I'm always using the latest Quicken Windows Premier subscription version)
    This is my website: http://www.quicknperlwiz.com/
  • dougf44
    dougf44 Member ✭✭
    Thanks for the responses, @Chris_QPW and @miklk (I did not notice the Help -> Report a problem menu item, thanks @Chris_QPW). Having used Quicken 2000 for options trades for 20 years, I believe Quicken does handle options trades correctly, given the 100 shares-per-option factor which I have been using. My questions may (or may not) relate to the fact that a new account was created when I tried to configure my IRA for download, and the downloaded trades were added to the new account. I am working to resolve this issue and appreciate your help.
  • Mountaines
    Mountaines Member ✭✭
    I'm also facing the same issue, But before I don't how to resolve the quicken handle options traded correctly? Now I use the given information I solve my problem thank U.
This discussion has been closed.