Converting Stock Options

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  • Updated 1 month ago

I am using Reckon (Quicken) Personal Plus

I have the following scenario and cannot find a way of doing it.

1.         I purchased some Options in company XXX for .01c
2.         They are convertible to Full Shares in company XXX at .30c
3.         I have now paid the .30c per share to convert the Options to Full Shares.

4.         I cannot find a way in Reckon (Quicken) to do this in one simple transaction.





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David

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Posted 2 months ago

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John Campbell

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Haven't you paid 31 cents per share ? (or was it .01 + .29)
If you defined them as options in RPP, then you could do a sell on the options and then a buy on the shares, using the capital base for the buy/sell prices.
If you defined them as the share security, then you could do an addition of capital, using a -ve "return of capital". This way, the capital value of the shares is correctly reported.
(Edited)
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David

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Thanks for the response John.
I had actually done a sell/buy before I read your response.

Guess it seems strange to me, even though its an adopted USA program, that they would allow for Options in Australia/New Zealand. Hardly a new feature in our markets.


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Diver Dave

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Options have a different ASX Code to the underlying stock, David, hence you have to finalise the transaction when Closing out the Option and subscribing for the fully paid stock.  If it;s your only transaction in that stock you could rename the Option and it's ASX Code and then do a -ve Capital Return as John suggests - either way works.
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David

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Sorry I meant NOT allow............