diff --git a/amount.cc b/amount.cc
index 4c3fb03f..21f5bf6d 100644
--- a/amount.cc
+++ b/amount.cc
@@ -1279,14 +1279,13 @@ void amount_t::annotate_commodity(const amount_t&    price,
   DEBUG_PRINT("amounts.commodities", "  Annotated amount is " << *this);
 }
 
-void amount_t::reduce_commodity(const bool keep_price,
-				const bool keep_date,
-				const bool keep_tag)
+amount_t amount_t::reduce_commodity(const bool keep_price,
+				    const bool keep_date,
+				    const bool keep_tag) const
 {
-  if (! commodity().annotated)
-    return;
-  if (keep_price && keep_date && keep_tag)
-    return;
+  if (! commodity().annotated ||
+      (keep_price && keep_date && keep_tag))
+    return *this;
 
   DEBUG_PRINT("amounts.commodities", "Reducing commodity for amount "
 	      << *this << std::endl
@@ -1297,16 +1296,27 @@ void amount_t::reduce_commodity(const bool keep_price,
   annotated_commodity_t&
     ann_comm(static_cast<annotated_commodity_t&>(commodity()));
 
-  annotated_commodity_t * new_ann_comm =
-    annotated_commodity_t::find_or_create(*ann_comm.base,
-					  keep_price ?
-					  ann_comm.price : amount_t(),
-					  keep_date ? ann_comm.date : 0,
-					  keep_tag ? ann_comm.tag : "");
-  assert(new_ann_comm);
-  set_commodity(*new_ann_comm);
+  commodity_t * new_comm;
 
-  DEBUG_PRINT("amounts.commodities", "  Reduced amount is " << *this);
+  if ((keep_price && ann_comm.price) ||
+      (keep_date && ann_comm.date) ||
+      (keep_tag && ! ann_comm.tag.empty()))
+  {
+    new_comm = annotated_commodity_t::find_or_create
+      (*ann_comm.base, keep_price ? ann_comm.price : amount_t(),
+       keep_date ? ann_comm.date : 0, keep_tag ? ann_comm.tag : "");
+  } else {
+    new_comm = commodity_t::find_or_create(ann_comm.base_symbol());
+  }
+
+  assert(new_comm);
+
+  amount_t temp(*this);
+  temp.set_commodity(*new_comm);
+
+  DEBUG_PRINT("amounts.commodities", "  Reduced amount is " << temp);
+
+  return temp;
 }
 
 
@@ -1347,6 +1357,22 @@ bool commodity_t::needs_quotes(const std::string& symbol)
   return false;
 }
 
+bool commodity_t::valid() const
+{
+  if (symbol().empty() && this != null_commodity)
+    return false;
+
+#if 0
+  if (annotated && ! base)
+    return false;
+#endif
+
+  if (precision() > 16)
+    return false;
+
+  return true;
+}
+
 commodity_t * commodity_t::create(const std::string& symbol)
 {
   std::auto_ptr<commodity_t> commodity(new commodity_t);
@@ -1497,8 +1523,11 @@ annotated_commodity_t::create(const commodity_t& comm,
   commodity->price = price;
   commodity->date  = date;
   commodity->tag   = tag;
+
   commodity->base  = &comm;
+  assert(commodity->base);
   commodity->ptr   = comm.ptr;
+  assert(commodity->ptr);
 
   commodity->qualified_symbol = comm.symbol();
 
diff --git a/amount.h b/amount.h
index b209adfc..be6f65b7 100644
--- a/amount.h
+++ b/amount.h
@@ -75,9 +75,9 @@ class amount_t
   void annotate_commodity(const amount_t& price,
 			  const std::time_t  date = 0,
 			  const std::string& tag  = "");
-  void reduce_commodity(const bool keep_price = false,
-			const bool keep_date  = false,
-			const bool keep_tag   = false);
+  amount_t reduce_commodity(const bool keep_price = false,
+			    const bool keep_date  = false,
+			    const bool keep_tag   = false) const;
   void clear_commodity() {
     commodity_ = NULL;
   }
@@ -282,9 +282,6 @@ inline amount_t abs(const amount_t& amt) {
   return amt < 0 ? amt.negated() : amt;
 }
 
-#define base_amount(amt)					\
-  ((! show_lots && amt.commodity().price) ? amt.base() : amt)
-
 std::ostream& operator<<(std::ostream& out, const amount_t& amt);
 
 inline std::istream& operator>>(std::istream& in, amount_t& amt) {
@@ -499,15 +496,7 @@ class commodity_t
     return ptr->value(moment);
   }
 
-  bool valid() const {
-    if (symbol().empty() && this != null_commodity)
-      return false;
-
-    if (precision() > 16)
-      return false;
-
-    return true;
-  }
+  bool valid() const;
 };
 
 class annotated_commodity_t : public commodity_t
diff --git a/balance.cc b/balance.cc
index 07d4afc8..13acef22 100644
--- a/balance.cc
+++ b/balance.cc
@@ -46,6 +46,19 @@ balance_t balance_t::price() const
   return temp;
 }
 
+balance_t balance_t::reduce(const bool keep_price, const bool keep_date,
+			    const bool keep_tag) const
+{
+  balance_t temp;
+
+  for (amounts_map::const_iterator i = amounts.begin();
+       i != amounts.end();
+       i++)
+    temp += (*i).second.reduce_commodity(keep_price, keep_date, keep_tag);
+
+  return temp;
+}
+
 struct compare_amount_commodities {
   bool operator()(const amount_t * left, const amount_t * right) const {
     return left->commodity().symbol() < right->commodity().symbol();
@@ -160,14 +173,10 @@ balance_pair_t& balance_pair_t::operator/=(const balance_pair_t& bal_pair)
   quantity /= bal_pair.quantity;
   if (cost)
     *cost /= bal_pair.cost ? *bal_pair.cost : bal_pair.quantity;
-
-  if (bal_pair.price && *bal_pair.price && price)
-    *price /= *bal_pair.price;
   return *this;
 }
 
 balance_pair_t& balance_pair_t::add(const amount_t&  amount,
-				    const amount_t * a_price,
 				    const amount_t * a_cost)
 {
   if (a_cost && ! cost)
@@ -175,13 +184,6 @@ balance_pair_t& balance_pair_t::add(const amount_t&  amount,
   quantity += amount;
   if (cost)
     *cost += a_cost ? *a_cost : amount;
-
-  if (a_price) {
-    if (! price)
-      price = new balance_t(*a_price);
-    else
-      *price += *a_price;
-  }
   return *this;
 }
 
@@ -290,8 +292,10 @@ void export_balance()
     .def("negate", &balance_t::negate)
     .def("amount", &balance_t::amount)
     .def("value",  &balance_t::value)
+    .def("price",  &balance_t::price)
+    .def("reduce", &balance_t::reduce)
     .def("write",  &balance_t::write)
-    .def("valid", &balance_t::valid)
+    .def("valid",  &balance_t::valid)
     ;
 
   class_< balance_pair_t > ("BalancePair")
@@ -368,9 +372,6 @@ void export_balance()
     .def("__len__", balance_pair_len)
     .def("__getitem__", balance_pair_getitem)
 
-    .add_property("price",
-		  make_getter(&balance_pair_t::price,
-			      return_value_policy<reference_existing_object>()))
     .add_property("cost",
 		  make_getter(&balance_pair_t::cost,
 			      return_value_policy<reference_existing_object>()))
diff --git a/balance.h b/balance.h
index 766837c9..563f620a 100644
--- a/balance.h
+++ b/balance.h
@@ -411,6 +411,9 @@ class balance_t
   amount_t  amount(const commodity_t& commodity) const;
   balance_t value(const std::time_t moment) const;
   balance_t price() const;
+  balance_t reduce(const bool keep_price = false,
+		   const bool keep_date  = false,
+		   const bool keep_tag   = false) const;
 
   void write(std::ostream& out, const int first_width,
 	     const int latter_width = -1) const;
@@ -446,56 +449,42 @@ class balance_pair_t
 {
  public:
   balance_t   quantity;
-  balance_t * price;
   balance_t * cost;
 
   // constructors
-  balance_pair_t() : price(NULL), cost(NULL) {}
+  balance_pair_t() : cost(NULL) {}
   balance_pair_t(const balance_pair_t& bal_pair)
-    : quantity(bal_pair.quantity), price(NULL), cost(NULL) {
-    if (bal_pair.price)
-      price = new balance_t(*bal_pair.price);
+    : quantity(bal_pair.quantity), cost(NULL) {
     if (bal_pair.cost)
       cost = new balance_t(*bal_pair.cost);
   }
   balance_pair_t(const balance_t& _quantity)
-    : quantity(_quantity), price(NULL), cost(NULL) {}
+    : quantity(_quantity), cost(NULL) {}
   balance_pair_t(const amount_t& _quantity)
-    : quantity(_quantity), price(NULL), cost(NULL) {}
+    : quantity(_quantity), cost(NULL) {}
   template <typename T>
-  balance_pair_t(T value) : quantity(value), price(NULL), cost(NULL) {}
+  balance_pair_t(T value) : quantity(value), cost(NULL) {}
 
   // destructor
   ~balance_pair_t() {
-    if (price) delete price;
-    if (cost)  delete cost;
+    if (cost) delete cost;
   }
 
   // assignment operator
   balance_pair_t& operator=(const balance_pair_t& bal_pair) {
     if (this != &bal_pair) {
-      if (price) {
-	delete price;
-	price = NULL;
-      }
       if (cost) {
 	delete cost;
 	cost = NULL;
       }
 
       quantity = bal_pair.quantity;
-      if (bal_pair.price)
-	price = new balance_t(*bal_pair.price);
       if (bal_pair.cost)
 	cost = new balance_t(*bal_pair.cost);
     }
     return *this;
   }
   balance_pair_t& operator=(const balance_t& bal) {
-    if (price) {
-      delete price;
-      price = NULL;
-    }
     if (cost) {
       delete cost;
       cost = NULL;
@@ -504,10 +493,6 @@ class balance_pair_t
     return *this;
   }
   balance_pair_t& operator=(const amount_t& amt) {
-    if (price) {
-      delete price;
-      price = NULL;
-    }
     if (cost) {
       delete cost;
       cost = NULL;
@@ -517,10 +502,6 @@ class balance_pair_t
   }
   template <typename T>
   balance_pair_t& operator=(T value) {
-    if (price) {
-      delete price;
-      price = NULL;
-    }
     if (cost) {
       delete cost;
       cost = NULL;
@@ -536,13 +517,6 @@ class balance_pair_t
     quantity += bal_pair.quantity;
     if (cost)
       *cost += bal_pair.cost ? *bal_pair.cost : bal_pair.quantity;
-
-    if (bal_pair.price) {
-      if (! price)
-	price = new balance_t(*bal_pair.price);
-      else
-	*price += *bal_pair.price;
-    }
     return *this;
   }
   balance_pair_t& operator+=(const balance_t& bal) {
@@ -568,15 +542,6 @@ class balance_pair_t
     quantity -= bal_pair.quantity;
     if (cost)
       *cost -= bal_pair.cost ? *bal_pair.cost : bal_pair.quantity;
-
-    if (bal_pair.price) {
-      if (! price) {
-	price = new balance_t(*bal_pair.price);
-	price->negate();
-      } else {
-	*price -= *bal_pair.price;
-      }
-    }
     return *this;
   }
   balance_pair_t& operator-=(const balance_t& bal) {
@@ -648,15 +613,6 @@ class balance_pair_t
     quantity *= bal_pair.quantity;
     if (cost)
       *cost *= bal_pair.cost ? *bal_pair.cost : bal_pair.quantity;
-
-    if (bal_pair.price && *bal_pair.price) {
-      if (price)
-	*price *= *bal_pair.price;
-    }
-    else if (price) {
-      delete price;
-      price = NULL;
-    }
     return *this;
   }
   balance_pair_t& operator*=(const balance_t& bal) {
@@ -826,8 +782,7 @@ class balance_pair_t
   // unary negation
   void negate() {
     quantity.negate();
-    if (price) price->negate();
-    if (cost)  cost->negate();
+    if (cost) cost->negate();
   }
   balance_pair_t negated() const {
     balance_pair_t temp = *this;
@@ -851,8 +806,7 @@ class balance_pair_t
 
   void abs() {
     quantity.abs();
-    if (price) price->abs();
-    if (cost)  cost->abs();
+    if (cost) cost->abs();
   }
 
   amount_t  amount(const commodity_t& commodity) const {
@@ -867,12 +821,10 @@ class balance_pair_t
   }
 
   balance_pair_t& add(const amount_t&  amount,
-		      const amount_t * a_price = NULL,
-		      const amount_t * a_cost  = NULL);
+		      const amount_t * a_cost = NULL);
 
   bool valid() {
-    return (quantity.valid() &&
-	    (! price || price->valid()) && (! cost || cost->valid()));
+    return quantity.valid() && (! cost || cost->valid());
   }
 
   void round() {
diff --git a/config.cc b/config.cc
index 54600369..bc67a7ef 100644
--- a/config.cc
+++ b/config.cc
@@ -780,9 +780,21 @@ OPT_BEGIN(actual, "L") {
 } OPT_END(actual);
 
 OPT_BEGIN(lots, "") {
-  show_lots = true;
+  keep_price = keep_date = keep_tag = true;
 } OPT_END(lots);
 
+OPT_BEGIN(lot_prices, "") {
+  keep_price = true;
+} OPT_END(lots_prices);
+
+OPT_BEGIN(lot_dates, "") {
+  keep_date = true;
+} OPT_END(lots_dates);
+
+OPT_BEGIN(lot_tags, "") {
+  keep_tag = true;
+} OPT_END(lots_tags);
+
 //////////////////////////////////////////////////////////////////////
 //
 // Output customization
@@ -1121,6 +1133,9 @@ option_t config_options[CONFIG_OPTIONS_SIZE] = {
   { "init-file", 'i', true, opt_init_file, false },
   { "input-date-format", '\0', true, opt_input_date_format, false },
   { "limit", 'l', true, opt_limit, false },
+  { "lot-dates", '\0', false, opt_lot_dates, false },
+  { "lot-prices", '\0', false, opt_lot_prices, false },
+  { "lot-tags", '\0', false, opt_lot_tags, false },
   { "lots", '\0', false, opt_lots, false },
   { "market", 'V', false, opt_market, false },
   { "monthly", 'M', false, opt_monthly, false },
diff --git a/config.h b/config.h
index 99295189..a19dd2b6 100644
--- a/config.h
+++ b/config.h
@@ -99,7 +99,7 @@ class config_t
 		      std::list<item_handler<transaction_t> *>& ptrs);
 };
 
-#define CONFIG_OPTIONS_SIZE 78
+#define CONFIG_OPTIONS_SIZE 81
 extern option_t config_options[CONFIG_OPTIONS_SIZE];
 
 void option_help(std::ostream& out);
diff --git a/valexpr.cc b/valexpr.cc
index 61574d3f..c8495771 100644
--- a/valexpr.cc
+++ b/valexpr.cc
@@ -13,6 +13,10 @@ std::auto_ptr<value_calc> total_expr;
 std::auto_ptr<scope_t> global_scope;
 std::time_t terminus;
 
+bool keep_price = false;
+bool keep_date  = false;
+bool keep_tag   = false;
+
 details_t::details_t(const transaction_t& _xact)
   : entry(_xact.entry), xact(&_xact), account(xact_account(_xact))
 {
@@ -643,6 +647,9 @@ void value_expr_t::compute(value_t& result, const details_t& details,
     assert(0);
     break;
   }
+
+  if (! keep_price || ! keep_date || ! keep_tag)
+    result = result.reduce(keep_price, keep_date, keep_tag);
 }
 
 static inline void unexpected(char c, char wanted = '\0') {
diff --git a/valexpr.h b/valexpr.h
index 58eb4c99..8e890586 100644
--- a/valexpr.h
+++ b/valexpr.h
@@ -249,6 +249,10 @@ extern std::auto_ptr<scope_t> global_scope;
 extern std::time_t terminus;
 extern bool	   initialized;
 
+extern bool keep_price;
+extern bool keep_date;
+extern bool keep_tag;
+
 void init_value_expr();
 
 bool compute_amount(value_expr_t * expr, amount_t& amt,
diff --git a/value.cc b/value.cc
index 8edffe80..377a9631 100644
--- a/value.cc
+++ b/value.cc
@@ -728,16 +728,42 @@ value_t value_t::price() const
   switch (type) {
   case BOOLEAN:
   case INTEGER:
-  case AMOUNT:
-  case BALANCE:
     return *this;
 
-  case BALANCE_PAIR:
-    if (((balance_pair_t *) data)->price)
-      return *(((balance_pair_t *) data)->price);
-    else
-      return 0L;
+  case AMOUNT:
+    return ((amount_t *) data)->price();
 
+  case BALANCE:
+    return ((balance_t *) data)->price();
+
+  case BALANCE_PAIR:
+    return ((balance_pair_t *) data)->quantity.price();
+
+  default:
+    assert(0);
+    break;
+  }
+  assert(0);
+  return value_t();
+}
+
+value_t value_t::reduce(const bool keep_price, const bool keep_date,
+			const bool keep_tag) const
+{
+  switch (type) {
+  case BOOLEAN:
+  case INTEGER:
+    return *this;
+
+  case AMOUNT:
+    return ((amount_t *) data)->reduce_commodity(keep_price, keep_date,
+						 keep_tag);
+  case BALANCE:
+    return ((balance_t *) data)->reduce(keep_price, keep_date, keep_tag);
+
+  case BALANCE_PAIR:
+    return ((balance_pair_t *) data)->quantity.reduce(keep_price, keep_date,
+						      keep_tag);
   default:
     assert(0);
     break;
@@ -770,22 +796,21 @@ value_t value_t::cost() const
   return value_t();
 }
 
-value_t& value_t::add(const amount_t& amount,
-		      const amount_t * price, const amount_t * cost)
+value_t& value_t::add(const amount_t& amount, const amount_t * cost)
 {
   switch (type) {
   case BOOLEAN:
   case INTEGER:
   case AMOUNT:
-    if (price || cost) {
+    if (cost) {
       cast(BALANCE_PAIR);
-      return add(amount, price, cost);
+      return add(amount, cost);
     }
     else if ((type == AMOUNT &&
 	      ((amount_t *) data)->commodity() != amount.commodity()) ||
 	     (type != AMOUNT && amount.commodity())) {
       cast(BALANCE);
-      return add(amount, price, cost);
+      return add(amount, cost);
     }
     else if (type != AMOUNT) {
       cast(AMOUNT);
@@ -794,15 +819,15 @@ value_t& value_t::add(const amount_t& amount,
     break;
 
   case BALANCE:
-    if (price || cost) {
+    if (cost) {
       cast(BALANCE_PAIR);
-      return add(amount, price, cost);
+      return add(amount, cost);
     }
     *((balance_t *) data) += amount;
     break;
 
   case BALANCE_PAIR:
-    ((balance_pair_t *) data)->add(amount, price, cost);
+    ((balance_pair_t *) data)->add(amount, cost);
     break;
 
   default:
diff --git a/value.h b/value.h
index 05bea81f..bcc71d03 100644
--- a/value.h
+++ b/value.h
@@ -145,7 +145,7 @@ class value_t
   }
   value_t& operator=(const balance_pair_t& value) {
     if ((balance_pair_t *) data != &value) {
-      if (! value.price && ! value.cost) {
+      if (! value.cost) {
 	return *this = value.quantity;
       } else {
 	destroy();
@@ -267,9 +267,10 @@ class value_t
   void     cast(type_t cast_type);
   value_t  cost() const;
   value_t  price() const;
-  value_t& add(const amount_t&  amount,
-	       const amount_t * price = NULL,
-	       const amount_t * cost = NULL);
+  value_t  reduce(const bool keep_price = false,
+		  const bool keep_date  = false,
+		  const bool keep_tag   = false) const;
+  value_t& add(const amount_t&  amount, const amount_t * cost = NULL);
 
   value_t value(const std::time_t moment) const {
     switch (type) {
diff --git a/walk.cc b/walk.cc
index 4bb6a38a..300988a1 100644
--- a/walk.cc
+++ b/walk.cc
@@ -7,8 +7,6 @@
 
 namespace ledger {
 
-bool show_lots = false;
-
 template <>
 bool compare_items<transaction_t>::operator()(const transaction_t * left,
 					      const transaction_t * right)
@@ -44,7 +42,7 @@ void add_transaction_to(const transaction_t& xact, value_t& value)
       transaction_xdata_(xact).dflags & TRANSACTION_COMPOSITE) {
     value += transaction_xdata_(xact).composite_amount;
   }
-  else if (xact.cost || xact.amount.commodity().annotated || value) {
+  else if (xact.cost || value) {
     value.add(xact.amount, xact.cost);
   }
   else {
diff --git a/walk.h b/walk.h
index 974cd575..a9164ad0 100644
--- a/walk.h
+++ b/walk.h
@@ -120,8 +120,6 @@ inline const account_t * xact_account(const transaction_t& xact) {
   return xact_account(const_cast<transaction_t&>(xact));
 }
 
-extern bool show_lots;
-
 //////////////////////////////////////////////////////////////////////
 
 inline void walk_transactions(transactions_list::iterator begin,