Money 2004 - Equity Option Problems


M

My Name

If anyone has any -Positive- experience with Money 2004 and Equity
Options, please post them.

I figure that either:
- Microsoft doesn't have anyone on their Money team with any
experience trading options?
- They're targeting Money for Joe Sixpack, who is more concerned with
paying the minimum payment on his Visa bill at the last possible
minute via epay.

Here are my main issues:

1. Money 2003 can't import buy/sell transactions for Equity Options.
(Equity transactions from my Vanguard and Scottrade accounts are
imported just fine.) You can MANUALLY enter Equity Option
transactions, however. I buy/sell a couple of these every week, and
probably spend at least an hour a week reconciling which Options have:
- Expired
- Repurchased
- Sold
- Sold with an in-the-money covered call

2. Money 2003 can't recognize when an out-of-the-money Equity Option
has expired. Money keeps it in your account forever, unless you find
it and then MANUALLY enter an "Expire" transaction for the old option.
Money also uses the last trade as the value, so your account balance
is wrong until you enter the Expire transaction.

3. Money 2003 can't link your investment in the stock to your
profits/losses on the options. Last year, one of my stocks was up
around 10%, but I made +50% by owning the stock and trading the
covered calls. (Yes, I certainly lost money on others.)

I've been keeping these figures in my homegrown Excel spreadsheet. It
would be nice if Microsoft could figure some of this stuff out!

Please post any work-arounds or responses.
Thanks!
 
Ad

Advertisements

D

Dick Watson

No one here has yet reported even having M04. Maybe late next week?

Your latter figuring is correct.
 
B

Bob Becnel

Do you mean Money 2003? Money 2004 is not even out to the general public.
I would assume if you have a beta version, then you are probably bound to
some type of NDA. You might want to read it before commenting on this
list.

Bob

***************************
Bob Becnel
(e-mail address removed)
http://cec.wustl.edu/~rgb2/
***************************
 
M

Major Ursa

Do you mean Money 2003? Money 2004 is not even out to the general
public. I would assume if you have a beta version, then you are
probably bound to some type of NDA. You might want to read it before
commenting on this list.
One more reason to find another and probably better solution than getting
yourself into all kinds of trouble just to protect the interests of poor
Billy.

Ursa..
 
B

Bob Becnel

One more reason to find another and probably better solution than getting
yourself into all kinds of trouble just to protect the interests of poor
Billy.

Ursa..
:)
 
A

Arthur

I dumped Quicken and bot MS Money 2003 because Quicken has no stock
option support. I use OptionsXpress ( OX ) and they support "Option
Money" which costs 30/mo or 345/yr wo/updates. Might be worth the
price to a hyperactive options trader.

Yes, I use OpenOffice spreadsheets to supplement MS Money, I use
Smartmoney portfolio to download EOD prices. No, I can not get
closing Bid / Ask prices.

I don't used Expire. I use buy or sell to close. I use $0.00 if an
Expire. It works for brokers, so it works for me. As you say, MS
Money 2003 has bugs and dumbness.

I also use MS Money 2003 to track my banking and credit card activity
so in all fairness it centralizes all of my personal financial affairs
in one place. I post these total account figures to a spreadsheet
monthly so that I can track my overall financal health.

I think the Options support is new to MS Money 2003 so I assume they
will correct and improve it going forward.

I am not loyal to any one software vendor.

arthur
 
C

Cal Learner-- MVP

I figure that either:
- Microsoft doesn't have anyone on their Money team with any
experience trading options?
- They're targeting Money for Joe Sixpack, who is more concerned with
paying the minimum payment on his Visa bill at the last possible
minute via epay.
The second one.
 
Ad

Advertisements

P

Pithecanthropus erectus

My Name said:
If anyone has any -Positive- experience with Money 2004 and Equity
Options, please post them.

I figure that either:
- Microsoft doesn't have anyone on their Money team with any
experience trading options?
- They're targeting Money for Joe Sixpack, who is more concerned with
paying the minimum payment on his Visa bill at the last possible
minute via epay.

Here are my main issues:

1. Money 2003 can't import buy/sell transactions for Equity Options.
(Equity transactions from my Vanguard and Scottrade accounts are
imported just fine.) You can MANUALLY enter Equity Option
transactions, however. I buy/sell a couple of these every week, and
probably spend at least an hour a week reconciling which Options have:
- Expired
- Repurchased
- Sold
- Sold with an in-the-money covered call

2. Money 2003 can't recognize when an out-of-the-money Equity Option
has expired. Money keeps it in your account forever, unless you find
it and then MANUALLY enter an "Expire" transaction for the old option.
Money also uses the last trade as the value, so your account balance
is wrong until you enter the Expire transaction.

3. Money 2003 can't link your investment in the stock to your
profits/losses on the options. Last year, one of my stocks was up
around 10%, but I made +50% by owning the stock and trading the
covered calls. (Yes, I certainly lost money on others.)

I've been keeping these figures in my homegrown Excel spreadsheet. It
would be nice if Microsoft could figure some of this stuff out!

Please post any work-arounds or responses.
Thanks!
The best alternative to Microsoft is opensource software. I googled and
found this item:
OptionVue - OptionVue Systems International delivers OptionVue 5, the
ultimate options trading software, and other wealth-building resources for
serious option trading investors.

it is on this page.

http://www.mathtools.net/Applications/Finance_and_Economics/Software_and_Tools/

Opensource is free to use and distribute, and is regularly updated and
tested. You may want to give it a shot, it gets good reviews.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top