Position Analyzer

The Position Analyzer module gives a graphical representation of positions, P&L and Greeks.

In this manual we will cover how to:


Launching the Position Analyzer Module

A Position Analyzer window can be accessed from any of the following modules:

  • Main Screen
  • Portfolio
  • Complex Order Ticket
  • Risk Radar
  1. From the Main Screen
    1. Click Modules and select Position Analyzer

    2. Enter a symbol

      This opens a blank Position Analyzer module with the input underlying.

  2. From the Portfolio

    Right-click a security's row and select Analyze Positions for <underlying>

    The analyzer module will load all positions currently held for the selected underlying security.

  3. From the Complex Order Ticket

    Click the gear icon and select Open in Position Analyzer

  4. From the Risk Radar
    1. Expand an account to view positions grouped by underlying
    2. Right-click anywhere in the row of the underlying symbol and select Analyze Positions for <underlying>

      The analyzer module will load all positions currently held for the selected underlying security.


Creating Positions in the Position Analyzer Module

Building a position directly in the Position Analyzer module

  1. Click the Add Position button in the positions section of the module
  2. Right-click in the positions section of the module and select Add Position

    Fill out the details of the leg in the Add Position window and click the Add button when completed:

Drag and Drop from an Option Chain


Loading Existing Positions into the Position Analyzer

Loading from the Portfolio

Right-click a security's row and select Analyze Positions for <underlying>

Loading from the Risk Radar

  1. Expand an account to view its positions grouped by the underlying symbol
  2. Right-click anywhere in the row of the underlying symbol and select Analyze Positions for <underlying>

Note: When loading as illustrated above, the analyzer window loads all the open positions in that underlying security.


Reading the Information on the Position Analyzer module

  1. Header Controls
  2. Risk Graph
  3. Position Details
  1. Header Controls

    Mode

    Sets the type of graph displayed (all risk plots are graphed over underlying price movement)

    P&L Net Profit / Loss
    Delta Net Delta
    Gamma Net Gamma
    Vega Net Vega
    Theta Net Theta
    Rho Net Rho
    Risk Band Sets a visual representation (band) of theoretical "risk" based on a percentage move of the underlying security price.
    Int. Rate Interest rate adjustment field. A setting of 0.00% will use the system default interest rate (if established).
    Flat Vol. Flat line volatility - Sets all option volatilities to a fixed percentage value.
    Vol. Point Adj. Volatility Point Adjustment - Incrementally adjust volatility to evaluate the effect of volatility changes on the position.
  2. Risk Graph

    Axes

    Horizontal Underlying security price
    Vertical

    The values graphed on the vertical axis are net values and depend upon the graph mode:

    Mode Display
    P&L Net profit or loss
    Delta Net Delta
    Gamma Net Gamma
    Vega Net Vega
    Theta Net Theta
    Rho Net Rho

    Risk Curves

    Green Line Current risk profile
    Red Line Risk profile at expiration of the front month options
    White Line Risk profile at expiration of all options

    Risk Band

    Visual representation of a zone of price movement. The default Risk Band setting is 15%. This shows the extent of a 15% move of the underlying price (up or down) from the current price.

    Current Price Line

    Vertical line representing the current price of the underlying security

    Tip: The current value of the graphed position is where the green risk line intersects this line.

  3. Position Details

    Lists the positions that are part of the risk graph calculations

    Top Bar

    Add Position Click to create and add a new position (with the same underlying) to the analyzer window
    Live If checked the graph displays live market data, else the data is as of the time the graph was opened
    Month Select a month to view just the positions expiring that cycle. All other legs will be deselected and inactive.
    Underlying You can make theoretical adjustments to the underlying price to see the effect of price movement on the position's net values
    Date Advancing the date graphs the theoretical position risk based on time decay of the options

    Summary Bar

    Net Calls Displays the Net number of Call option contracts for the active position(s)
    Net Puts Displays the Net number of Put option contracts for the active position(s)

    Right-click Menu

    Add-Position Add a new position to the analyzer window
    Remove Position Remove the selected position from the analyzer window
    Reload Positions from Account Populates the analyzer window with all positions in your portfolio for the active underlying
    Save to File Save the positions in the analyzer to a file folder for later reference
    Load from File Load a saved analyzer position file from a file folder
    Open Legs in Complex Order Ticket Open a Complex Order Ticket populated with the positions that are active (selected checkboxes). Up to four (4) legs can be launched in the Complex Order Ticket.

Manipulating the Risk Graph Display

Zoom

  1. Use the mouse scroll-wheel to zoom in and out on the risk graph.
  2. Left-click and drag the graph axes to re-scale the graph
  3. Hold the Shift key and left-click and drag to create a zoom window

Pan

  1. Left-click and drag the graph display
  2. Use the pan scrollbars above the horizontal and vertical axes to pan

Risk curve visibility controls

Above the risk graph are a set of checkboxes that allow you to toggle on/off individual risk curves

Now If checked, the current risk graph of the active position is displayed (green line)
Expiration (Front Month) If checked, the at-expiration risk graph for front-month expiring options of the active position is displayed (red line)
Expiration (All Months) If checked, the expiration risk graph of the active position is displayed (white line)
The numbers associated with each type of curve represent the net value of the Mode of the graph

Customizing the Position Data Display

Column Customization

The data displayed on the Order Book Spreadsheet can be customized by adding / removing, resizing, and re-ordering columns.

Click here for the complete guide to Column Customization

Position Analyzer Column Data Definitions

[X] Checkbox column - If checked, the leg will be included (active) in the graphical calculations, otherwise that leg is excluded from the risk curve calculations.
Cost Basis Adjustable cost basis for the position
Description Description of the security
Expiration Option contract expiration date (month/day/year)
Market Price Represents the Mark price of the option at the time the analyzer window was opened. If the Live checkbox is checked, it represents the current market Mark price of the position (during market hours)
Net P&L Current net profit or (loss) for the position
Put/Call Put or Call option identifier
Qty Quantity
Strike Strike price of an option contract position
Symbol Security's symbol identifier

Filters and Sorting

Data on the Order Book can be quickly organized using SILEXX OEMS's filtering and sorting functions.

Click here for the complete guide to Filters and Sorting