Position Hierarchy (Grouping Structure)

The Problem

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.

An Example

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 Solves This

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 hierarchy of organizing your trading data, so it's very important to understand this!

The Hierarchy

- Underlying (Ex: ATVI)
---- Position (Ex: Covered Call)
-------- Leg (Ex: 2019-10-19, 87.5 Call)
------------ Transaction (Ex: Sell to Open)

You can see a real example in the screenshot above — look at the red tags on the right to see the levels.

Also notice 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 at the Transaction level (like Exp. Date, Strike, Instrument).