Options - Record Buy to Close Transaction

Considerations

Use this page to manually record a cover short by FIFO.

Click one of the icons above to view either a list of the transactions available for that category, or click the Baseline Holdings icon to access the Add New Baseline Holdings page.

Procedure

From the Manually Record Trades page, click the Option icon to access the Options - Record Transaction page. From this page, select Buy to Close from the Action drop-down list. The Options - Record Buy to Close Transaction page displays.

1. Select the account to which to record this transaction, from the In Account drop-down list. If you only have one account, this drop-down list is not displayed.

2. By default, the Option Category on this page is set to Option on a Stock. You can select one of the following from this drop-down list to change the option category.

3. By default, the Action on this page is set to Buy to Close. To change this, select a different transaction from the Action drop-down list. The fields that display depend on the transaction that is selected. To enter a buy to close transaction, and allocate specific contracts to Buy to Close, enter an Options - Record Buy to Close by ID transaction.

4. Enter the date of the transaction in the Transaction Date (mm/dd/yyyy) field. You can also click the Calendar icon and select the appropriate transaction date from the calendar that displays.

5. Do one of the following to populate the option symbol:

• Enter the 3-26 character pure option symbol in the Symbol field. Do not enter dashes, periods or plus signs. Click Verify to confirm you have entered the correct symbol for the option.

• Enter the 3-26 character pure option symbol by entering each of the following parameters:

• Underlying Symbol

• Expiration mm/dd/yyyy

• Strike Price

• Select Put or Call

Once you enter the parameters, click Verify to confirm you have entered the correct symbol for the option.

• Click the Option Symbol Lookup link to access the option symbol builder tool. This tool enables you to search for an existing option, or to build a custom option.

6. Select the type of security from the Security Type drop-down list. By default, this field is set to Options for this transaction.

7. Enter the number of contracts in the Contracts field. The default information used is the standard 100 shares per contract. If your option has a different set up, enter the number of shares per contract associated with your option in the field provided. It is important that this figure is accurate to ensure correct calculations for this option transaction.

8. To calculate the Total Cost of the transaction, do one of the following:

• Select the Price per Share radio button - Enter the Price per Share and the Commission amount + All Fees in the fields provided. Once you have entered this information, click the Calculate Total Cost button. The result displays in the Total Cost field.

• Select the Total Cost radio button - If you select this radio button, the Total Cost field becomes active and the Calculate Total Cost button is no longer displayed. Enter the total cost of the trade in the field provided. Be sure to include the total commission amount and any fees.

9. To record the Buy to Close transaction, click the Record button. To record the transaction and continue to enter additional transactions, click the Record & Repeat button. To leave this page, without recording the transaction, click the Cancel button.

Example

Click here to view an example of the Options - Record Buy to Close Transaction page.