In this tab, you will find all of your open, unrealized positions. There are 3 different portfolio views that can be selected using the icons atop this panel:
Flat View: choosing this view shows you positions in alphabetical order with the ability to sort any column. Think Excel Spreadsheet using this view.
Tree View: this view is similar to a Microsoft Windows tree, meaning that symbols are alphabetical and opening up any symbol requires a simple mouse click on the symbo itself. Once this click is made, the entire position is displayed, including any equity positions in that symbol.
Additionally, there are some icons at the top of this template. There is a “+”, a “-” and a “calendar”. The plus expands all positions so that everything in every symbol is shown. The minus closes all positions and just shows the symbol information. Clicking on any symbol will expand that particular symbol. The calendar icon will show just the information by expiration.
Custom View: this view is initially like that Flat View, but it contains check boxes along the left hand side of the template. These boxes allow the user to check trades in an effort to group them into specific spreads or strategies. Here’s the steps to do grouping:
- Locate the trade(s) in question and check the box for each leg. When complete, use the upper left lightning bolt to choose “Portfolio Groups > New Group.
- This template will pop up:
- Create a name for your group and choose Create.
- Next, your group will appear in the list with the legs highlighted in TradeHawk orange.
To add a group to the trade ticket, click the small “ticket icon” on the spread’s header line. This click will add the spread, in its closing form, in total, to the trade ticket. Adjust size and price accordingly.
To adjust any grouped spread, click the top header box, choose Edit Group from the top lightning bolt under Portfolio Groups. Edit your position accordingly and hit the Save button. NOTE: the custom groups do NOT yet automatically update themselves when a trade is made in that group. The user will have to update the groups manually. Your ungrouped positions will always appear beneath your grouped ones. These ungrouped positions WILL update automatically, so you can use those quantities as a checks and balances.
Send Group to What If:
This feature allows you to choose a group and send it over the What If Risk Analyzer container for comprehensive risk analysis on your position.
Cost Display:
There are two choices here: Position cost and Average Price.
Position Cost: takes the average price of your initial trade price multiplied by 100 (for options) times the number of contracts.
Average Price: displays the initial price of your trade ONLY. Note: your P&L calculation will compare trade price to current price, compute the size of your trade, and return your composite P&L.
P&L Calculation:
We compute P&L several ways. Here, you can use the last trade, midpoint or market:
Last Trade: takes your initial price and compares it to the last traded price to compute P&L. NOTE: if an option has not traded in awhile, the last traded price may not be between the current bid and offer, which will distort your P&L.
Midpoint: takes the current mid point of a market and compares this value to the traded price for P&L.
Market: takes the bid for long positions and the ask for short positions, compares that value to the current value of a position for P&L purposes.
Position Cost: uses the initial trade price of a position to determine current P&L.
Previous Close: uses the previous day’s closing price of each position to determine the P&L for the day, from on close to another. Sometimes this value is referred to as Day P&L.
Greek Display:
More specifically, this tab allows you to change how deltas are computed in your positions. TradeHawk shows a cumulative delta as well as a single option delta along with some other functions:
Dollar Delta: this feature puts every delta in a base 100, meaning that all deltas are compared to a 100 dollar stock and shown as such. This basic meaning here is that for example, 5,000 deltas in a $10 stock is not necessarily the same as 5,000 deltas in a $100 stock. So, the system will compute relative delta weights when dollar delta is chosen.
Beta Weighted: this delta computation will take the beta of each stock and apply it to the delta calculation of each position. NOTE: The system default for the beta symbol is SPY. Users can change the symbol in the Settings page under Portfolio>General Settings.
Normal: this setting takes the delta of an option and multiplies it by your position quantity to come up with a cumulative delta value. In the Portfolio tab, deltas in a symbol are summed upwards and displayed on header lines!