I’ve had a few of these in the past as well. I agree in part with the approach taken in the BGL process but I wouldn’t go so far as to keep track of the units. I tend to have the following:
- Options Clearing Account (generally in Investments/Derivatives as a Non-Unitised Investment) - where all my option trades start
- An “Open Positions as at 30 June” account (generally in current assets) - where any Long (or Purchased) Call and Put positions that are open at 30 June of a particular financial year are reallocated
- (Prior to SF360 in SF Desktop I would also have a Capital Gain account to which I would reallocate the Net Balance of the clearing account but not necessary in SF360)
All Option trades start in the clearing account. Trades that were matched out during the year would remain in the clearing account, with any that were Exercised (Longs)/Allocated (Shorts) being reallocated to the Cost Base of the underlying asset. Long Call & Put Positions that are still open at 30 June of a financial year are reallocated to the Open Positions account.
The remaining balance in the clearing account should then be your Capital Gain or Loss for the year. In SF360, I process a disposal of the clearing account for $Nil, which should then reallocate the balance of the clearing account to the 24700 Change in Value of Investments account and report as a single line item in your Investment Reports.
That’s my approach in a nutshell, feel free to reach out if you would like me to assist in more detail.