Greeks

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Greeks tabbed worksheet

The Greeks tabbed worksheet has a table consisting of all the Greeks values currently applicable to all option contracts contained in the selected Portfolio.

The options are arranged into Strategies. Strategies can have one or more legs, each comprised of a one or more options contracts for the same Option.

Each Strategy has a summary line, click on it to drop down details of its component option strategy legs:

The Function Bar is shared by all the tabbed pages in the Portfolio Details workpage, for more information go to the Portfolio Details Function Bar topic.

Strategy Summary Row

The details of each Strategy are summarized in a row colored light blue:

Each Strategy Summary Row contains the following information:

Underlying Security

Strategies are based on one or more options for the same underlying security.

The symbol for the underlying security will be displayed at the start of the Strategy Summary Row.

Options derived from the underlying security normally have the symbol as the first letters of the option's code, the remaining two letters or numbers are represent codes for the strike price and expiration date.

Strategy Name

When an analysis in the Option Analysis window is converted to a trade, the strategy name is carried over to the Portfolio Manager. By default strategies in the Option Analysis window are given sequential number, e.g. Strategy 1, Strategy 2, etc.. User can rename the strategy and the new name will be inserted into the Portfolio Manager.

The Strategy Name cannot be renamed in the Portfolio Details work pages.

Current Market Value

Whenever the Portfolio Manager is opened the current market prices for all symbols is retrieved and the current Market Value is displayed.

In the Strategy Summary Row, the current values of all legs in the strategy are calculated, added together and displayed.

Current Greek Values

The sum of Greek Values for all the legs of the strategy are displayed in the Greeks section of the Strategy Summary Row.

The Greek values for each option can be viewed in the Strategy Legs Details Rows, see below.

For more information on the Greeks, go to the Portfolio Details - Greeks help topic.

Strategy Legs Details Rows

Double left mouse-click on a Strategy Summary Row to expand the rows containing details of its component strategy legs.

Each leg in the strategy will be displayed in its own row.

For each option strategy leg, the table displays the following information:

Transaction Details

Contract Type

The first two words describe the contract type.

Options can be either bought or sold, and the position can be entered or exited.

There are four types of options contract: Sell(Entry), Buy(Exit), Sell(Exit) or Buy(Entry)

Symbol

For market traded options, the first letters will be the same as the option's underlying security.

The last two characters are assigned by the exchange and represent the strike price and expiration date.

Note - The put and call option for each strike price and expiration date will each be assigned, a slightly different code. 

Description

The description includes the dollar amount of its strike price, whether the option is a Put or a Call, and its date of expiry.

Qty

For Exchange Traded Options (ETO), the Quantity amount is the number of the underlying shares which are affected by the leg. This will depend on how many option contracts have been entered into.

Typically, in the United States each ETO will extend over 100 of the underlying security's shares, in Australia one option will cover 1,000 shares.

Market Data

Last

This field displays the Last price at which the option traded. If the market is closed this will be the same as the close price for the previous trading session.

If the market is open, this price can be refreshed using the using the Data-on-Demand refresh button butn_go-off.gif located in the function bar.

Note - This amount is quoted on a per share basis, to ascertain the value of a single options contract, this amount must be multiplied by 100.

Market Value

The amount is the sum of the Last price times the number of contracts in the leg, times the appropriate multiplier (usually 100).

The represents the actual current value of the individual leg's position.

The amount of the strategy's combined market value, displayed in the strategy's summary row [see above], is calculated by adding the market value of the legs that are net credits to the account (for example Sell (Entry) is subtracted and a Buy (Entry) is added).

and

Volatility

This figure is the Implied Volatility for that leg's option.

Greeks

Each row displays the Greeks for each option: Delta, Gamma, Theta, Vega and Rho.

For a more detailed description of the Greeks, go to the Greeks section of the Option Graphs Components help topic.

Total Row

The Total row at the bottom of the page displays the total amounts for all strategies of the following items:

Total Market Value

This is the total market value at current prices.

This would be the amount received is all positions were liquidated at the most recent prices [excluding costs, fees, commissions, etc.].

Delta

The is the sum of the positive and negative Delta values for all strategies.

During its calculation, the Delta for each strategy is weighted to reflect the strategy's market value compared to the Total Market Value [see previous].

Display

Group Display

Each Strategy is displayed as a group.

Strategies can have one or more legs.

Each strategy is displayed in a Strategy Summary Row, see above.

The legs of each strategy can be viewed in separate Strategy Leg Details Rows. To view these, double left mouse click the Strategy Summary Row, and the Details rows will open underneath the Strategy Summary.

To close the Strategy Leg Details Rows, double left mouse click the Strategy Summary Row, and the Details rows will collapse into the summary row.

Column Display

The display is fixed.

No custom view function is available for this work page.

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