Option Spread Entries

jketterl

How are option spreads (both the Buy Call option and the Sell Call option) entered into Quicken Classic Premier and how to enter the option respective calls (sell and buy) after the spread gets assigned at either the exercise date or if closed before this date?

Quicken Jasmine

Hello @jketterl,

Thanks for reaching out!

Quicken doesn’t have a single “spread” transaction type, so you’ll want to enter each leg of the spread as its own option transaction. For example, if you’re opening a bull call spread:

• Buy to Open for the call you purchased
• Sell to Open for the call you wrote

When you close the position before expiration:

• Close the long call with Sell to Close
• Close the short call with Buy to Close

If one leg is assigned or exercised:

• Short call assigned → record a Cover Short for the option (at $0 if it expired worthless), then enter a Sold transaction for the underlying stock at the strike price.
• Long call exercised → close the option, then enter a Bought transaction for the underlying stock at the strike price.

If the option expires, just record a sale at $0. This keeps the cash, cost basis, and history accurate in Quicken.

I hope this helps!