Definition: Initial Trade Price

Often times people like to calculate their profit target/loss on the initial trade price (cost basis), so this lets you quickly calculate what that would be.

For example: selling a Strangle for $1.00 and then rolling the call side for a $0.25 credit would result in an Initial Trade Price of $1.00 and Cumulative Cost Basis of $1.25. If you are aiming to take 50% of your original credit, you'd know at a glance that the target should be $0.50, and then apply that to the Cumulative Cost Basis to get a target exit price of $0.75 ($1.25 - $0.50).

This is labeled "Orig. Cost" on Closed Positions page - same number.

For a Leg

The quantity-weighted price of the Transactions opened on the first day of this Leg.

For a Transaction

The order price.