Handle your wash sales and generator your Schedule D

Q:Does your software handle splits and reverse splits, including dealing with options whose underlying has split/reverse split

A:TradeMax can handle splits and reverse splits events including dealing with options.
http://www.itrademax.com/ipress/detailed-instructions/adjust-trades/split-trades.htm

TradeMax will auto assigned / exercised option to stock after split / reserve split event.(even the strike price or quantity will change)

In follow case,URE has a split(1 for 5) event on 04/15/2010,TradeMax will auto match the PUT Option URC100417p00009000 assigned strike price from $9 to $45,qty from 20 to 4,On gain&loss report our software will defer split option’s cost to correct underlying stock.

If you enabled warning message on “Auto Assigned / Exercised Option to Stock after Split / Reserve Split Event” function in options TradeMax will give you a warning on such case

1. Select the trades you want to split.

Learn more about: How to select trade records.

2. Right-click the selected record and select the Trade Split in the context menu:



 

3. A Trade Split dialog box will pop up:



Function	Description
1.Enter Transaction	Select the transaction type. There are the following option from its dropdown list : Stock Split/Reverse Split -– A corporate action in which a company’s existing shares are divided into multiple shares. Stock Spin off-– A spin-off is a new company formed by a split from a larger one. Brokers vary widely as to report spinoffs on their statements. Stock Merge-– The combination of two or more corporations into one.
2.Transaction Date	The very date you split the security
3.Account	Choose the specific account name from the account list. If you choose <All Account> from the dropdown list , event will apply to all accounts.
4.Old Security Name	The name of security before the specific event. Enter the old security name manually in the Old Security Name filed or Select it from the Symbol dropdown list.
5.Old Security Quantity	Number of shares before the specific event.
6.New Security Name	The name of the security after the specific event. Enter the new security name manually in the New Security Name filed or Select it from the Symbol dropdown list. If Stock Split, the New Security Name is the same as the Old Security Name.
7.New Security Quantity	Number of shares after the specific event.
8.New shares Issued	The split ratio automatically calculated by New Security Quantity/Old Security Quantity.

After checking all the information you entered, press OK button to continue the process or click Cancel button to cancel the appending process.

4. After pressed OK button, the following new record display:

The outlined row in red displays the New Split trade record.

5. You can cancel this action with the Undo Button in the trade tab.