Considerations
A future is a financial contract obligating the buyer to purchase an asset (or the seller to sell an asset), such as a physical commodity or a financial instrument, at a predetermined future date and price. A single stock future is a contract with an underlying of one particular stock, usually in batches of 100. No transmission of share rights or dividends occur.
Use this page to manually close a short position, for a single stock future, using the Specific ID method.
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 Single Stock Future icon to access the Single Stock Future - Record Transaction page. From this page, select Buy to Close by ID from the Action drop-down list. The Single Stock Future - Record Buy to Close by ID Transaction page displays.
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.
Select one of the following from the Futures Sector drop-down list:
Stock (default) - Stock is the underlying asset.
Commodity - Commodities are the underlying asset.
Currency - International currencies are the underlying asset.
Index - Index basket of shares, such as the S&P 500, are the underlying asset.
By default, the Action on this page is set to Buy to Close by ID. To change this, select a different transaction from the Action drop-down list. The fields that display depend on the transaction that is selected.
Enter the date of the transaction 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.
Enter the single stock future symbol in the Symbol field. You can then click Verify to confirm you have entered the correct symbol for the future. To search for a future option symbol or create a custom future, click the Future Symbol Lookup link.
Note: Once you click Verify, a grid displays at the bottom of the page, if there are lots available. This grid enables you to specify shares to allocate to buy to close.
Select the type of security from the Security Type drop-down list. By default, this field is set to Single Stock Future for this transaction.
Enter the number of contracts in the Contracts field. The default information used is the standard 100 shares per contract. If your future has a different set up, enter the number of shares per contract associated with your future in the field provided. It is important that this figure is accurate to ensure correct calculations for this option transaction.
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.
Use the grid to select from which lot ID(s) to allocate contracts to buy to close. Update the appropriate lot ID(s) with the number of Contracts to Buy to Close. To clear the entered lot information, click the Clear button.
To record the Buy to Close by ID 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 Single Stock Future - Record Buy to Close by ID Transaction page.
Click any of the numbered areas below to view the procedure step for the selected field.
