plain vanilla Options - Puts & Calls

Poilka Member
edited April 2022 in Investments (Windows)
Looking for a way to get a message to the Quicken developers. Is this the way?

I use Quicken to track investments. There are SO many crazy niche choices in the investing drop downs, but not the most basic of them all - Puts & Calls. I have a 'work around' but I always have to explain to my accountant "this is what what I am doing here'. Why has Quicken not creates a simple Buy/Sell a Put & Buy/Sell a Call in the investment selections. I am sure EVERYONE who is a moderately sophisticated investor would appreciate this upgrade. Thanks!
8 votes

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  • Quicken Anja
    Quicken Anja Moderator mod
    Hello @Poilka,

    Thank you for taking the time to reach out to the Community with your request.

    I went ahead and changed your post to an Idea so other users who have the same or a similar request can vote on your idea by clicking the up arrow (see below).

    Ideas are also reviewed by our Development and Product teams in order to improve Quicken and implement new features requested by customers.

    Please, be sure to add your own vote as well.

    -Quicken Anja
  • GMGC
    GMGC Member
    The handling of puts and calls is terrible at best. I constantly have to correct Quicken's handling of expired options, especially those that where shorted (i.e. shorting a call or shorting a put). The same applies for when a short option is exercised. The stock is added through a Buy or Sell transaction, but the exercised short option is then removed through an Add Shares or Remove Shares transaction, which totally screws up holdings (holding of an option of zero shares). I regularly have to accept that erroneous transaction and then go correct the poor handling in Quicken by changing it to a Cover Short to actually remove the shares of the expired or exercised option. This is NOT a new concept in trading and Quicken needs to catch up to competitors in how they are handling this properly.
  • I'm using another program to handle them and having to manually correct Quicken. It's really surprising that it has not been addressed by Quicken
  • I am having the same problem with Quicken for MAC. I support adding this capability into the next update. It seems to be a fairly straightforward modification.
  • Oconeeman
    Oconeeman Member ✭✭
    I download transactions from Schwab. I was reconciling an account and found Quicken duplicated four call option transactions from the download causing my share balance and cash balance to be incorrect. users need help wi.
  • TX1
    TX1 Member

    I've had similar problems trying to account for stock options in Quicken. One problem I haven't seen mentioned in this thread is cost basis in the underlying security for tax accounting. There's a difference between an option that expires out of the money and an option that is exercised in the money. One generates a straight-forward capital gain/loss for tax purposes. The other generates an adjustment to basis in the underlying stock. It would be nice to track that in Quicken, which is not easy with the current configuration (I use Quicken Premier for PC's)

  • Tj_M777
    Tj_M777 Member

    About twice a month I get duplicate "ShtSell" transactions into my Schwab accounts - except the prices don't match. The only solution I have found is to go to the Schwab online account portal and manually track down which entry has the correct price and delete the other one with the incorrect price. With multiple Schwab accounts this is becoming a MAJOR pain in the A… I am a long time Quicken user and am more than aggrivated by what should be a simple fix by Quicken. If someone knows of a better solution, I would appreciate it.

  • cejacksoniii
    cejacksoniii Member

    I must be missing something in the original question. In my Quicken for Windows I have "Sell Short" and "Cover Short" transactions that work fine. I typically write covered calls, which are recorded as Sold Short (the fact that they are covered is not material to the recording of the transaction). Upon Expiry, I record a "Covered Short" transaction with a zero cost. Ultimately, at tax time the 1099-B is going to control for the accountant. I do have issues with Merrill Lynch sometime reporting the expiry as a buy and sometimes as a cover short. Can't seem to find a rhyme or reason to it. the short sale itself is fine

  • Frazzled User
    Frazzled User Member ✭✭
    Since April 6 absolutely NONE of my Schwab transactions are posting. I trade options heavily and they have been mostly messed up or missing entirely since early September 2022. This disaster with Quicken not downloading or posting Schwab transactions needs to be FIXED!! Without the Schwab transactions posting correctly, I have little to no future use for Quicken.