To allow you to record short sell transactions, an additional “Short Sell” button is included when you are in the portfolio or current transaction folder. Selecting this option will open the short sell window.
The short sell feature is most commonly used when trading options/warrants. For example, if you want to write an option, you first enter the option code into the security window to add this to the database (please see adding a new security in chapter 5). Then you go back into the portfolio window and conduct a short sell as explained below. This will automatically add the “premium” you receive for the option to the account that the portfolio is attached.
Performing A Short Sell
- Utilize the Navigation menu to locate the portfolio in question.
- Expand your Portfolio by clicking the “+” symbol next to your portfolio
- Expand the Shares | Funds | Fixed Interest Window folder by clicking the “+” symbol next to the Shares | Funds | Fixed Interest Window heading
- Click the Current Transaction folder
- Select Action from the tool bar then click Short Sell. This will bring up the “Short Sell” window
- Fill in the details for your transaction then click on OK.
Covering A Short Sell
- Utilize the Navigation menu to locate the portfolio in question.
- Expand your Portfolio by clicking the “+” symbol next to your portfolio
- Expand the Shares | Funds | Fixed Interest Window folder by clicking the “+” symbol next to the Shares | Funds | Fixed Interest Window heading
- Click the Current Transaction folder
- Locate the Short Sell you wish to Cover, and left click it (it should now be highlighted in Blue)
- Select Action from the tool bar then click Cover. This will bring up the “Short Sell Cover” window
- Fill in the details for your transaction then click on OK.