Quicken Should Treat Expired Options Properly For P&L Reporting

saberman

If you have an option that expires out of the money Quicken treats it as Removed with a zero effect on the cash balance. This makes the Investing/Portfolio correct but it doesn't show up in a P&L report as a loss. I have to change the Removed to a Sale for $0.00 to get the P&L correct.

Sherlock

You should be entering the Sold action transaction to close the open.  The Removed action transaction was either a placeholder transaction, an import of an inappropriate transaction obtained from the financial institution, or user error. 

NotACPA

I'd suspect that the brokerage downloaded the inappropriate Removed transaction.

saberman

The brokerage is Fidelity. Please note that the transaction memo section says expired. Please also note that the Enter transaction dropdown list does not include Expired in any of the items. Quicken does not support expired options. You cannot create an Expired Option transaction -- you have to fake it as a sale for $0.00.

saberman

>You should be entering the Sold action transaction to close the open.
The proper transaction should be Expired Option but Quicken does not support that. Using Sold is a workaround the bug.

Sherlock

saberman said:

>You should be entering the Sold action transaction to close the open.
The proper transaction should be Expired Option but Quicken does not support that. Using Sold is a workaround the bug.

Quicken has never provided the buy to open, sell to open, sell to close, or buy to close transactions used for options but we may work around the functional limitation using Bought, ShtSell, Sold, and CvrShrt action transactions, respectively.  Imported transactions for expiration, assignment, or exercise need to set to a close transaction (CvrShrt or Sold).