010: Trade Details (Part 3)
See 008: Trade Details (Part 1) for the start of this series
Using the existing previous trades in Trade Details (007-009), we add the following on 2024-12-05:
- -1 2024-07-03 TSLA CSP @290 (Sell Cash Secured Put) - Expires Worthless
- 100 2024-08-01 TSLA Assigned 100 Shares @290
- -1 2024-08-02 TSLA @325 (Sell Covered Call) - Expires Worthless
- -1 2024-12-04 TSLA @325 (Sell Covered Call) - Sold @ $5 / Bought Back (Closed out) @ $1.45
Profits & Losses are not recognized until the trade is closed.
You can modify the 'Close Price' anytime to track your potential profit/loss closer. If you're entering manual trades, be sure to enter the final closing price & the 'close/Settle Date' to move it from column 'Open' to 'Closed'.
(Click to Zoom)
Notice the option on TSLA has 1 day remaining until 'Date To Expire' and in this example, we 100% don't want it to be called away, so we buy it back at $1.45 on 2024-12-05 closing it early and doing this reduces our profit from $500 to $355; we also closed the other trades we had left open from earlier in the year (we got lazy & we don't have IntelliClose enabled), we now have:
What's happening here?
- When we first added the account, we funding the account with $10. See 006: Add Account
- You closed the trade without entering a 'Close Price'. You're saying the stock went to zero (0)?!
- You purchased the stock on margin, and this is how you want it to be represented to remind yourself of the trade?
- Note: This is also what an auto-imported row from a CSV fill might look like when you get assigned
For our walk-through to work, we are going to add a separate 'closing' trade:
We need to balance our trades, the real issue is TradeID (TID): 7 & 10 do not have a 'Close Price', possible solutions:
- As stated above, simply take the 319.47 from TID#10 and use that as the 'close price' on TID#7 & delete TID#10
- Create a Short by taking 290 TID#7 to use as the 'close price' on TID#10 & delete TID#7
- Keep both lines so you can 'see' the history of this trade by Grouping the Trades and then fix the 'close price'
Continuing with the flow of our walk-through, we are going to use #3
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