by David N. Eich - September 08, 2007
Two major new functions were incorporated into our TradeLog™ software: An Exercise/Assign function which greatly simplifies the accounting procedures required when exercising options and assigning stock trades, and a new complex grid filter dialog which simplifies finding specific types of trade records.
Exercised Options:
When an option is exercised, stock may be assigned or called away depending on whether the option is a put or a call.
The premium paid if you bought the option, or received if you sold the option, gets included in the cost basis of the stock assignment.
If this sounds confusing, it is because the tax accounting for such events is quite complex. Please see our Option Exercises and Stock Assignments tax topic which discusses the ramifications of such events depending on whether you bought or sold the option and whether it was a put or a call.
Complex Filtering:
Many traders have struggled with finding specific transactions in their trade history. In order to
simplify the whole process, we have added
a Grid Filter dialog which allows you to quickly select several different criteria
in one convenient popup dialog window.
For example, option traders can now find all of their PUT options separate from their CALL options. Futures trades can easily isolate futures contracts from options on futures, or broad-based index option trades.
In addition, with just a few clicks you can find all of your stock sales as recorded in TradeLog in order to compare them against the stock sales listed on your broker provided 1099. This will greatly simplify the whole process of finding out whether your broker made a mistake on the 1099 or you are missing some sales from your trade history.
Many other combinations are possible, and this dialog will become the basis of some even more powerful trade analysis functions included in our TradeLog version 8 due out later this year.