Other - Record Cover Short Transaction

Considerations

Use this page to manually record a cover short transaction categorized as "other" (private placements, for example). This transaction enables you to record closing short activity using the default method selected on the My Settings: Edit Account Info page. If the default method is set to HIFO, you can record a cover using FIFO by entering an Other - Record Cover FIFO Transaction.

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 Other icon to access the Other - Record Transaction page. From this page, select Cover Short from the Action drop-down list. The Other - Record Cover Short 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 Action on this page is set to Cover Short. 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 record a cover transaction, and allocate specific shares to cover, enter an Other - Record Cover by ID transaction.

3. Enter the date you instructed your broker to close your short position 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.

4. Enter the symbol of the security in the Symbol field. Click Verify to confirm you have entered the correct symbol for the security.

5. Select the type of security from the Security Type drop-down list. By default, this field is set to Other.

6. Enter the number of shares in the Shares field.

7. 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.

8. To record the Cover Short 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 Other - Record Cover Short Transaction page.