quicken not calculating call values correctly (Q Mac Investments)
The calculation for CALLs is not correct. The SHARE value of 1, 2, 3 4,… actually represents 100, 200, 300, 400,… So the actual value of the account is inflated. Any way, outside of my manipulating the values manually, to get Quicken to calculate correctly?
Answers
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1 call= 100 shares. When you are entering a call (1), enter 100 in the "number of shares" box.
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Yes you are correct. These were downloaded from my brokerage account. I know I can adjust manually, but was hoping/expecting that Quicken would 'KNOW' that it was a 'CALL' and calculate the extended price correctly. My broker buys and sells all of the time and I was/am hoping that it could be handled automatically by the software since this is a STANDARD for how CALLs are handled. I shouldn't have to manually adjust the data, in my opinion.
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Blame your brokerage … NOT Q. It's the brokerage that's sending deceptive data, and you REALLY don't want Q mucking around with the downloaded data
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP-1 -
What's the broker involved here? The reason I ask is that with Direct Connect the broker codes the transactions that are downloaded to Quicken while with EWC/EWC+ it's not entirely clear, at least to me, if the broker "provides" the information to the aggregator (Intuit here) or if the aggregator "finds" the information at the broker's site. If it's the latter than you'd think that Quicken/Intuit might be able to change things.
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What is the Security you used to define these Call securities? Shouldn't they be defined as Bond instead of Stock or something else?
It's my understanding that this will solve the 1 -to-100 issue.0 -
It's from Ameriprise. Apparently they, or at least my brokerage doesn't download of individual transactions, just the assets and quantities. So I only see the Dashboard and Portfolio views on the account.
The CALL shows "CALL ISHARES S&P MIDCAP $259.87 EXP 05/19/23 INDEX" in the description of the security. It does show up as an "OPTION', which is correct.
By the way, I changed the shares (changed 1 to 100 etc), and now today, when I refreshed, they went back to the original value (1). So manually modifying doesn't work (or it works if I do it every time for every CALL).
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"It's from Ameriprise. Apparently they, or at least my brokerage doesn't download of individual transactions, just the assets and quantities."
That doesn't make any sense. At the Ameriprise web site discussing downloading into Quicken www.ameriprise.com/customer-service/quicken-faqs there's no mention at all of only downloading "positions" and they do use Direct Connect according to these faqs. Only downloading positions is pretty useless.
Do Help > Contact Support > Log Files and look inside it to see what they are actually sending.
You say that "I only see the Dashboard and Portfolio views on the account" and that seems to omit the "Holdings" view at the Account itself. I don't use "Simple Investing" so I don't know how it reflects activity and positions. This Account isn't set up for simple investing, is it?
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I tried turning on ALL TRANSACTIONS for Ameriprise under the account settings and received an error from Quicken, saying that Ameriprise doesn't support all transactions downloads and that I would need to unlink the account and create a new account and enter transactions manually. Which, of course, defeats the purpose of having Quicken. ??????
By the way, I'm using Quicken on a MAC. I had Quicken on a Window platform many years ago, but turned to MAC after I had too many viruses, I was tired of dealing with.
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