To begin, click the My Portfolio link on the PowerOptions tool menu - the ToolMenu is the main page that you see when you logon. From the Portfolio Tool menu select the Setup Position Portfolios link. Type in the name for your portfolio in the Portfolio name column. Then enter in the Cash on Hand amount in the second column. If you click the copy button (blue arrow button in the middle) the Cash on Hand amount will transfer over to your starting basis. If you wish to enter a different dollar amount for your Starting Basis then you can type in the value rather than clicking the copy button from the cash on hand column. The starting basis date will automatically be entered for you, but if it is an older position that you are entering you can change the starting basis date as well.
From this page, you can rename the portfolio, change the Cash on hand Value, the Starting Basis Value or the Starting Basis Date for the portfolio. You can also delete any one of your new portfolios if you made a mistake creating it or if you have entirely closed out all of the positions. If you get stuck at any time on this page simply click the How to use This Page button and it will briefly explain what you can do with the page. After you have entered in the starting basis for one portfolio or for several, and you are comfortable with all of the information that you have entered, click the Submit Changes button at the bottom of the page. This will link you directly into the Profit/Loss Position Portfolio.
Note: When you are starting out you can setup as many portfolios as you like. Once your portfolio(s) are set up you can make any necessary changes to them at any time by coming back into the Set-Up Position Portfolio section.
Now that you have a starting basis cash amount in your portfolio, you can set up your positions. The easiest way to start is to view the drop down menu from the Enter a New position box at the top of the page. This allows you to select the type of position you are going to enter into this particular portfolio. Simply select the position from the drop down menu at the top of the page.
Note: One of the innovative and value-added features of this tool is that you can enter multi-legged positions at one time rather than entering separate long and short transactions.
With each position you select you will be prompted to enter in the symbols for the transactions, the purchase price or the premium collected, the number of shares/contracts and the commission fees for the trades. Once you have completed the form with your position information, simply click the submit button at the bottom of the page and your position will be placed into the Profit/Loss Portfolio. If you click on the little book icon in the column field, you will be able to add in several notes for each position as well as enter in stop limits on your transaction. If the stop limit is approached, the portfolio tool will notify you of that event when you go into the Profit/Loss Position Portfolio.
Note: If you have an existing long stock position opened up a long stock in a previous portfolio position and you wish to write a covered call on it, instead of selecting Covered Call in the drop-down menu, click the more information button (little blue arrow) next to the stock symbol in the Profit/Loss Portfolio. In the pop-up menu that comes up you will have the option to select "Write Covered Call".
Now that your position is entered into the portfolio, we can discuss briefly how to close, edit, or even delete those positions as the expiration date approaches. To start, let's say that you entered in a new portfolio with a certain name, starting basis, cash on hand and opening date. But, you notice that the values that you originally entered are incorrect. As we mentioned before you can change any individual value for the Profit/Loss Portfolio. If you wanted to delete the whole portfolio all together, simply go to the "Setup Position Portfolios" page. All of your portfolios will be listed in order. To remove a portfolio simply click the "Delete" button next to the portfolio that you wish to remove.
The easiest way to edit or close out any of the positions in your portfolio is to use the More Info (little blue button) next to each line. As you click on the more info button a side menu will appear. To edit, delete, close, or assign a position select the first option on the pop-up menu, "Position Options." Although each menu is similar, there are some subtle differences. Let's take a look at a couple of them:
Position Options for a Long Stock: Edit (the dates, starting basis), Delete (the entire leg), Close (the position, sell the stock), Make Married Put or Make a Covered Call (add a call or a put linked to the open stock position.
Short Put (Naked Put): Edit, Delete, Close, Assignment, Expire, Make a Covered Put, Make a Bull Put Credit, Make Bear Put Debit.
Covered Call (Linked Position): Position Options for the Stock Leg: Position Analysis**, Edit, Delete, Close this Leg, Close this Position.
Position Options for the Call Leg: Position Analysis**, Edit, Delete, Close this Leg, Close this Position, Assignment, Expire.
** For all of the different strategies you can select to go to the Position Analysis tool on the PowerOptions site. This tool will analyze your position for liquidation value, expiration value, and list for you possible Roll Out Opportunities. It will also list possible Condor opportunities for the an existing spread position you have (For more info on the Post Purchase Analysis see the Tip sheet in the Help Menu).
With the different spread strategies you can choose to Edit the legs individually, Delete the legs individually, Expire the individual legs, Close the position as a whole (buy back the sold part and sell the bought call), or exercise or assign as a full position. The Position Options category of the pop-up menu from the more info buttons will vary depending on which type of strategy you have open in the portfolio.
Now that you have your positions open in the new portfolio you can watch the returns on your investments day-by-day and hour-by-hour. You can view each portfolio in the Profit/Loss Portfolio section or you can go to the "Snapshot Position Portfolio" to get a quick overview of your positions. The Snapshot portfolio will not allow you to edit or change any position. The Position Report will show you the monetary values for your open and closed positions. If you wish to edit the old position prices or closing dates simply click on the Edit buttons next to the stock symbol to adjust the numbers. However, it is best to make adjustments to the current open positions by using the Profit/Loss Portfolio.
Position Report Tool...
The Position Report Tool allows you to quickly view all of the positions, both historical closed positions and current opened positions, from an individual portfolio or all the positions from all of your portfolios. When you select this tool, you will notice that there are three drop down boxes on the top of the report page.
The first drop down box on the left allows you to select which portfolio you wish to view by name. You can also select to view all of your portfolios at once if you have several different portfolios set up.
The middle drop down box allows you to select if you wish to view all positions, the positions with a Realized Gain/Loss or to view the positions with an Unrealized Gain/Loss.
If you are viewing one of your portfolios and you notice that some positions are missing, check the third drop down box farthest to the right. If you entered a position with an opening date other than 2003, the default for the year selection, select the correct years and the missing positions will appear. If you have several different years for the different positions in the portfolio, you might want to select to view the positions for the past five years, thus giving you a view of the different positions.
The edit buttons in the position report tool allow you to adjust the open date for the position or the close date if the incorrect date was entered in originally, or you can adjust the cost basis or the sell basis. Keep in mind, changes that you make on your positions in the Report Tool will not carry over into the Profit/Loss Portfolio tool, but any changes you make in the Profit/Loss tool will carry over into the Position Report Tool.
Snapshot Position Portfolio Tool...
This tool allows you to view the day's gains or losses from your position portfolios. Select which portfolio you wish to view. The results table will then show you the stock or option last price, the change in price for the day, the days high and low, the trading volume for the day, and the time of the last trade for the stock or option. The more info buttons on the Snapshot Portfolio tool are the same that are in the SmartSearchXL tool: link to the stock chart (1 Year Snapshot or Big Charts), company info, Option Chain, link to the Research Tool for the stock detail or option detail, or link to the Calculator tool for either Covered Call calculator or Black-Scholes calculator.
Step-By-Step Procedure Position Portfolio Tool
1.) If you haven't already, go to http://www.poweropt.com/logon.asp.
2.) From the MY HOME page, click the "My Portfolio" navigation tab, second over from the left of the page.
3.) From the Portfolio menu select the Setup Position Portfolios tool. Give your new portfolio a name and cash on hand amount. Click the copy button between the cash on hand column and the starting basis column to move the amount into the starting basis. The date will be automatically selected for you as the present day, but if you want to change that to an older date simply delete the current date and enter your starting date.
4.) Once you have entered in your portfolio's name and starting amount click the Submit Changes button at the bottom of the screen. This will link you directly to the Profit/Loss portfolio.
5.) On a new entry, the Profit/Loss portfolio will only display your starting basis, your cash on hand, the opening date, market value (Will be zero until you enter a position), the Return on the Account (which will be zero until you enter a position), and the total costs (also zero).
6.) To enter a position simply select the strategy form the drop down menu that is labeled Enter a New Position. No matter which strategy you select, you will be prompted to enter in the symbols, premiums or costs, number of shares and commission fees. When you have entered in all of your information simply click the submit button.
7.) The position will now be entered into the Position/Loss portfolio and then automatically into the Position Report. As the site updates the values for the options and the stocks, the values on the portfolio will update as well. This gives you an accurate depiction of your position in the market.
8.) The easiest way to make changes in the portfolio is to use the more info buttons. Simply click the more info buttons, select Position Options and make your selections to Edit, Delete, Close, Assign, Expire, etc. The portfolio will take care of all the calculations for you after you enter in your numbers for closing, expiring, assignment, etc. Enter as many positions as you want per portfolio, and enter as many portfolios as you like.
9.) You can add any position from any tool on the site directly into your portfolio. So, if you just made a trade with your broker or would like to follow a paper trade, simply click the "more info" button and select "add to portfolio". The system will ask you which portfolio to add it to and it will be entered.