Reading Your P&L
Understanding your profit and loss is essential to knowing how your bot is performing. Claxton tracks P&L in several ways.
P&L Today (KPI Strip)
The big number in the top-left of the KPI Strip shows your total P&L for today. This combines:
- Realized P&L — Profit or loss from trades that were closed today. This is “locked in” — it won’t change.
- Unrealized P&L — Paper gains or losses on positions that are still open. This changes with every price tick.
Hover over the info icon (ℹ️) next to “P&L Today” to see the breakdown:
- Realized: +$150.00
- Unrealized: -$45.00
- Total: +$105.00
💡 The total can swing significantly during the day. A position might be up $200 at 11 AM and down $50 by 2 PM. This is normal for options trading.
Risk Left
Next to P&L Today, you’ll see Risk Left — how much of your daily loss limit remains. This is calculated as:
Risk Left = Max Daily Loss + (Today’s Loss if negative)
For example:
- Max daily loss: $1,000
- Today’s P&L: -$300
- Risk Left: $700
When Risk Left reaches $0, the bot stops opening new positions for the day (but continues to manage existing ones).
Intraday P&L Curve
Below the Positions Panel, there’s an Intraday P&L Curve chart. This shows how your total P&L has moved throughout the trading day.
- Green area — You’re in profit
- Red area — You’re in loss
- Zero line — Break-even reference
What to Look For
- Steady upward trend — Your positions are decaying in your favor (ideal for premium sellers)
- Sharp drop — Something moved against you. Check your positions.
- Flat line — Market isn’t moving much, which is usually good for iron condors
Position-Level P&L
In the Positions Panel, each position or group shows its own P&L:
- Green number (e.g., +$85) — This position is profitable
- Red number (e.g., -$120) — This position is losing money
These are mark-to-market values based on current option prices. They represent what you would get if you closed the position right now.
Realized vs Mark-to-Market
- Mark-to-market (what you see in the positions table) — Theoretical value based on current mid-prices. Can fluctuate.
- Realized (in the trade journal) — Actual fills. What you actually got paid or paid when the position closed.
There can be differences between the two, especially in paper trading or when bid-ask spreads are wide.
Trade Journal P&L
For a complete history of all trades and their actual P&L, use the Trade Journal tab. See Trade Journal for details.
Common P&L Scenarios
”My P&L is bouncing between green and red all day”
Normal! Options prices fluctuate. As long as your positions are within their exit parameters, the bot is managing them.
”I see +$200 realized but -$150 unrealized”
You’ve closed some trades at a profit ($200 realized), but your open positions are currently in the red ($150 unrealized). Your net is +$50 for the day.
”The position P&L doesn’t match what I expected”
Mark-to-market P&L can differ from expected values due to:
- Mid-price vs fill price differences
- Greeks changing as the underlying moves
- Time decay working in your favor (or against you)
- Changes in implied volatility