Position Hierarchy (Group Structure)
Last updated
Last updated
The fundamental problem with the brokerage platforms out there are that they do not allow for grouping of individual contracts/shares into a Position, the way you actually view them. Further, they do not allow you to retain contracts/shares that were closed out inside of an open ongoing Position.
Not only does this prevent you from easily seeing your cumulative breakeven (cost basis), but also the ability to analyze and tag your trading activity at the whole Position level, which are what traders care about.
The best example is a Covered Call — you can own shares of stock and sell calls against the shares each month. As you close/roll those calls over time, the information (net credit, realized P/L, etc) about the closed calls is "lost" with respect to your ongoing Covered Call as a whole.
Wingman allows you to group these closed-out calls (or any Leg), inside an ongoing Open Position.
To accomplish this, we have created a custom hiearchy of organizing your trading data, so it's very important to understand this!
Underlying (Ex: SPY)
Position (Ex: Covered Call)
Leg (Ex: Jan 17, 2020 Call @ 300)
Transaction (Ex: Sell to Open)
You can see that the two Transactions at the bottom belong to the 87.5 Call Leg. Because Legs are just summarized houses for related Transactions, there's no need to repeat that contract's information (Exp Date, Strike, Instrument).
