The Open Positions page is a unified view of every holding across your connected brokers — stocks, options, covered calls, cash-secured puts, and long calls. The top section shows summary cards (equity, cash, P&L); the main table shows one row per position; the Open Chains section below groups rolling or multi-leg positions. This page walks you through reading each part.
Before you start
Required:
- QuantWheel PRO or an active $1 trial.
- At least one connected broker with open positions.
Time to complete: 6 minutes
What's on the screen
1. The Account selector and controls
Above the summary cards, the Account selector toggles between All Accounts (combined view) and individual brokers. Use All Accounts for portfolio-level decisions; filter to a specific broker when reconciling against a broker's statement.
Next to it, a Hide P&L toggle blanks out all dollar figures — useful for screenshots or if someone's looking over your shoulder. A Refresh button forces a sync on demand; +Add Manual lets you enter a position that your broker sync didn't capture.
📸 SCREENSHOT: view-open-positions-step-1.png
2. Summary cards
Three cards summarize the portfolio:
- Total Equity — the combined value of all stock positions plus the market value of all open option contracts.
- Cash Balance — your cash, split into CSP Allocated (cash set aside for open cash-secured puts) and Unallocated (truly free cash you can deploy).
- Total P&L — the unrealized P&L across everything currently open.
The CSP Allocated / Unallocated split is the signal most active wheel traders check first. High Unallocated means idle capital that could be earning premium; low Unallocated means you're fully deployed.
📸 SCREENSHOT: view-open-positions-step-2.png
3. The Open Positions table
Each row is one open position (one ticker-type combination, not one trade). The columns:
- Ticker — underlying stock symbol
- Type — what kind of position it is: Long Stock, Covered Call, Cash Secured Put, Long Call
- Underlying — the stock behind the position (same as ticker for stocks, the stock for options)
- UBE (Unrealized Break-Even) — the price the underlying would need to reach for this specific position to break even if closed now, ignoring premiums already collected on prior wheel stages. This is the "this contract alone" view.
- BE (Break Even) — the position's break-even price including premiums collected across the full wheel cycle on this ticker. This is the "whole cycle" view.
- P&L — unrealized profit or loss on this position right now, at current market
- Real P&L — profit or loss including premiums collected across the full wheel cycle, not just this position. Mirrors Real Cost logic; see Understanding Real Cost.
Each row has an expand chevron that reveals the full transaction history for the position.
Account labels ("Main account", "Virtual fund", etc.) appear per row when you have multiple accounts connected. Handy for keeping paper-trading or retirement accounts visually separate.
📸 SCREENSHOT: view-open-positions-step-3.png
4. Open Chains section
Below the positions table, the Open Chains section shows positions that have multiple legs or an active rolling history. Each chain represents a sequence of related trades on the same ticker over time — for example, a CSP that was rolled three times before assignment, then a covered call against the resulting shares.
Per-chain info:
- Ticker + strategy name (e.g., "Cash-Secured Put" or "Covered Call Chain")
- Started {date} · Nd in trade · N transactions — when the chain began, how long it's been running, and the total count of trades inside it
- KEEPS OPEN: breakdown showing the multi-leg composition (which legs are still open)
- Running P&L: Realized + Unrealized + Locked In — the full financial state of the chain
Deep dive: How to track open chains and multi-leg positions.
📸 SCREENSHOT: view-open-positions-step-4.png
Common issues
What's the difference between UBE and BE?
UBE (Unrealized Break-Even) is the break-even for this specific contract, treating it in isolation. BE (Break Even) incorporates premiums you've already collected across prior wheel stages on this ticker. Use UBE when evaluating a single contract on its own merits; use BE when evaluating whether the overall wheel cycle on this ticker is profitable.
P&L shows red but my position is at my break-even price. Why?
Commissions, fees, and any bid-ask spread at entry widen the actual break-even beyond the displayed strike or entry price. BE and UBE include these frictions; the "nice round number" you remembered at entry didn't.
Why are some positions labeled "Virtual fund"?
If you've set up a paper-trading account or a Virtual Hedge Fund in Copy Trading, positions from that account surface alongside real positions in Open Positions, labeled accordingly. The account filter at the top of the page can isolate either view.
Can I manually add positions?
Yes — the +Add Manual button at the top lets you enter a position that isn't coming through from any connected broker. Use this for held-away accounts, international brokers we don't support, or pre-QuantWheel historical positions you want to include in your tracking.
The Real P&L column shows a big positive number but my actual P&L is small. Why?
Real P&L includes the cumulative premiums you've collected across every wheel stage on this ticker — not just this position. A ticker you've been wheeling successfully for a year can show Real P&L much higher than the current single-position P&L because the premiums have compounded. That's the point.