Name of an option changed due to a special dividend, can I change the name in security list somehow?

Question

There was a special dividend for TNP which had the unfortunate effect of all of the names in my security list being incorrect now because the strike price is part of the name. Is it possible to go into the security list and change the name to reflect this?

Eagle Eye · Answer

Thank you Jim. I saw this too late to try it. Fidelity sent a remove/add for the original and new strike priced option. I was very confused at first because they sent an Add for the old option and a Remove for the new one. That sent me for a loop.  Shouldn't I be removing the original and adding the new one?  After many scratches to the head I realized that they were correct (in a rather convoluted way) because the original (old or original) option was a sell (i.e., I sold a call), which ends up marking the number of options you have with a minus sign, when you are 'selling' an option. So strangely enough, I wanted to add what I originally sold, and remove the new one; since it seems quicken uses simple arithmetic when dealing with this simple Add/Remove.  I checked into changing the name, but I noticed when I was in the security list that the old equity also had a different CUSIP number than the new one. Not sure what kind of grief I would have faced if I changed the name but left the old and the new with the same CUSIP number.

Jim_Harman · Answer

Yes, you can change the name of a security to whatever you want, as long as it is unique.

Select the security in the Security List and click on Edit.