Entering puts and calls

I am attempting to enter a call option without success.
The situation is as follows: I have an account in which I
have a 100 share position of a stock. I have sold a call
option on that company. When I try to enter the call
option, per the directions in MSMoney help titled "Enter
puts and calls" I follow this procedure.

1.Go to the account that contains the investment
2.Click NEW
3.In the INVESTMENT box, type the name of the new
investment, which in this case is Call Dow Chemical Co.$35
for 01/17/04.
4.Click STOCK, and then click NEXT
5.Enter the option symbol [DOWAG], and then click FINISH
6.In the ACTIVITY box, I click SELL
7. In the QUANTITY box, enter the number of shares you're
entitled to buy or sell on the call or put. [ In my case,
I have sold 1 Call option, so I enter 100 in the QUANTITY
box.]
8.In the PRICE box I enter 1.35, and the commission info
9.When you are finished, click ENTER.

However when I click on enter, the following message comes
up. "you have entered more of'Call Dow Chemical$35 for
01/17/04' to renew or redeem than you have in this account"

I am confused by this message because I have 100 shares of
Dow Chemical in the account, which is the amount of shares
that having sold 1 Call option on Dow Chemical entitles me
to sell. What am I doing wrong?

via_newsgroup
Sat Oct 04 13:40:38 CDT 2003

In microsoft.public.money, Steve Brooks wrote:

>I am attempting to enter a call option without success.
>The situation is as follows: I have an account in which I
>have a 100 share position of a stock. I have sold a call
>option on that company. When I try to enter the call
>option, per the directions in MSMoney help titled "Enter
>puts and calls" I follow this procedure.
>
>1.Go to the account that contains the investment
>2.Click NEW
>3.In the INVESTMENT box, type the name of the new
>investment, which in this case is Call Dow Chemical Co.$35
>for 01/17/04.
>4.Click STOCK, and then click NEXT
>5.Enter the option symbol [DOWAG], and then click FINISH
>6.In the ACTIVITY box, I click SELL
>7. In the QUANTITY box, enter the number of shares you're
>entitled to buy or sell on the call or put. [ In my case,
>I have sold 1 Call option, so I enter 100 in the QUANTITY
>box.]

Money wants you to enter 1 for one contract of 100.

Be aware that there is a bug that won't let you later change the
option symbol later or to re-use that symbol for a different option
later.

You also could define the listed option as a stock rather than an
option. In that case you would enter 100 for the quantity. You can
change the symbol later in that case.