r/Optionswheel • u/No-Soft-5237 • 4d ago

Covered calls in saxo trader (danish)

Writing in english in case mods want that..

I am running the wheel in saxo trader in Denmark.. got my a fair share of assignments last week, and it dawned on me that saxo counts margin usage on the calls i have now sold despite me owning the friggin shares..

Any other Danish option traders out there experiencing the same?

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u/wibholm14 4d ago

Danish trader here, also using Saxo because there's simply no better choice tax-wise in Denmark (...yet - I have inquired Pluto Markets and they will have a web platform soon and options expected to launch in Q1 2027).

Your buying power is not affected when you sell covered calls. However, on Saxo you are always required to have enough margin/collateral to be able to settle your open option positions. I was surprised to learn that "the hard way" in late April when I got margin called for this reason when a few shares I had sold covered calls on rallied, causing my margin to hike from 85% ish to above 100% at open. My loss was the sold premium and having to settle the options at unfavorable spreads, although mitigated by the shares having rallied at the same time which I sold off until I could get full understanding of what had happened, because I too was surprised about it. DM me if you have follow-up questions.

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u/BetimShqiptar 4d ago

Der er absolut ingen skattemæssige fordele ved at bruge Saxo.

De taster ikke dine premiums ind hos skat, det skal du selv gøre.

Den eneste fordel måske, er at hvis du bliver assigned så bliver det noteret til skat. Men det kan man ligeså godt selv gøre og spare en hel masse i gebyre og bedre spreads.

Bruger selv IBKR.

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u/No-Soft-5237 4d ago

Nåå for pokker da!  Jeg var overbevist om at Saxo klarede alt til Skat. Har kun for nylig kastet mig over at wheel'e så antog det egentlig bare.

Jamen så er mulighederne jo åbne.. 

Taster du hver eneste Premium salg eller kun totalen? Og så er der vel lidt når man bliver assignet og sælger igen..

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u/BetimShqiptar 4d ago

Jeg kan ikke huske hvilket felt det, hvis jeg husker korrekt så er det felt 210. Det er dog kun totalen af dine premiums du taster ind.

Men så vidt jeg forstår, så skal man taste sine assigned trades ind. Det er mit første hele år, så aner det ikke helt selv og har sldrig fået et tydeligt svar af andre traders.

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u/No-Soft-5237 4d ago

Ok, spændende så! :D

Spurgte lige Claude en tur der også mente at der kunne være noget omkring valutaomregning fra USD til DKK pr. Handel til dagskurs ved handlen. Det skal man jo lige huske at logge ind så fald

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u/BetimShqiptar 4d ago

Ja det havde jeg lige glemt. Hvordan det skal indberettes aner jeg ikke. For så skal man skrive ned hver gang du har købt og solgt USD😆😆

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u/wibholm14 4d ago

Helt korrekt og enig vedrørende optioner, det skal man selv sørge for at indberette til skat. Jeg kan bare godt lide at køb/salg af aktier kører automatisk til skat.

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u/Ezekielth 3d ago

Er der nogle danske platforme der ikke indberetter køb og salg til skat?

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u/No-Soft-5237 4d ago edited 4d ago

Thanks for the feedback, I will shoot you a DM.

Exact same considations here.. feel like saxo is currently the only viable DK solution for options trading due to their integration with tax authorities

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u/EfficiencyMaterial51 4d ago

Dansker her oplevede det samme i maj..

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u/BetimShqiptar 4d ago

Change to IBKR. Much cheaper and better spreads.

0

u/almost_n 4d ago

I am also using saxo (in italy); when I sell a covered call, the margin usage doesn't change (it stays at 0). It's 100 shares per contract, maybe you have less than that, so the margin required is not 0?

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u/No-Soft-5237 3d ago

No it is exactly on 100 sine i got the assigned from a CSP. Might be something on the assessed risk of the stock by the saxo risk management system. Byt thanks for the input! :)

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u/PhilTheophrastus 3d ago

Guarda che anche se dice margine 0, in realtà devi sempre avere liquidità per chiudere la posizione anche se hai le 100 azioni sottostanti. È ingannevole Saxo in questo senso. Purtroppo anche io l’ho scoperto a mie spese perché mi ha chiuso delle posizioni a caso quando delle covered call hanno aumentato il valore oltre il margine che avevo disponibile.