Create new action

Stephen Bailey

I want to create a new action in the in the investing account function, to cater for CALL/PUT options transactions.  How do I do this or is there an alternative action I can use that I’m not seeing.

Rav

Welcome to the Reckon Community Stephen!

Unfortunately the option to create a new action is not possible at this stage.

The transaction types listed within the dropdown list are the available actions available for use.

Thanks,
Rav

Guy Jones

Hi Stephen

What I do is enter the option into the investment account as a totally new stock using its code eg BHPVP8 for the BHP NOV 23.50 CALL  then use buy stock , sell stock , short sell, actions. I ignore margins and do not enter them in the investment account (although movements may be reflected in cash/bank accounts) as these net out on position close and have no tax effect.

If position is closed on market the tax / P&L effect is recorded just like a normal stock trade. If option is exercised, then I close the option position at opening price  and create the new stock position as the sum of the strike price and premium paid for the option (EX of bought call) reflecting the correct cost base for the stock. Similar setup for other positions.

Buy treating each separately and manipulating close out for exercise the tax position is correct.
If no exercise occurs due to expiring worthless you SELL or BUY at zero price to close position and reflect loss/profit

Hope this helps.