[GNC] how to track Futures and Options

[Alton Brantley]

I carry options as a stock. Just multiply the contracts by 100 to show shares under options.
Regarding commissions, I have a subaccount under the brokerage account labeled “Open Commissions”.
When I execute an opening transaction, then the commission is debited to “Open Commissions”. I think of this as a prepaid expense.
When I execute a closing transaction, the commission is debited to “Open Commissions” also. And here’s the trick.
When I use the lots function to match the two parts of the transaction, I get a realized gain that is then adjusted by
 crediting the two “Open Commissions”.
(I actually do one additional step, which is to change the above “Open Commissions” to “Closed Commissions-CYxx” where xx is the year of the realized gain/loss.  By doing this, I have an automatic check that I have accounted for commissions correctly, as the balance of Closed Commissions should always be 0.)

So my accounts look like this:
Brokerage: AAPL 01/15/2021 230.00 C

Transactions: 
Opening (Sell Call to Open) 
09/19/2018 SCO	AAPL 01/15/2021 230.00 C                                                       -1200.
                Brokerage:Cash                                        38,379.55
                Brokerage:Open Commissions                                 8.45
                Brokerage:AAPL 01/15/2021 230.00 C -1200.  31.99                 38,388.00

Closing (Buy Call to Close)
11/09/2018 BCC  AAPL 01/15/2021 230.00 C                                                           0.
                Brokerage:AAPL 01/15/2021 230.00 C  1200.  25.58      30,696.00
                Brokerage: Open Commissions                               12.90
                Brokerage:Cash                                                    30,78.90

After matching up lots
11/09/2018      Realized Gain AAPL 01/15/2021 230.00 C
                Brokerage:AAPL 01/15/2021 230.00 C                     7,692.00 
                Brokerage:ShtTermCapGain                                          7,670.65
                Brokerage:Open Commissions                                            8.45
                Brokerage:Open Commissions                                           12.90

I then go back to each of the above transactions and change the
“Brokerage:Open Commissions” to “Brokerage:Closed Commissions-CY18”
This way, the “Open Commissions” account holds only unclosed transactions, and all “Closed Commissions-CYxx” are 0.

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