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Cockpit (Positions, Limits, Risk, Allocation)

The Cockpit is mission control on your dashboard. It bundles four sub-tabs:

💼 Positions

Active stock and option positions from IBKR — mirroring the desktop app. Strategy icons (📈/📉) distinguish stocks, PUT L1, PUT L2, covered call and long options. The strike cell colors ITM options:

  • 🟢 Green: Covered Call ITM (stock will be called away)
  • 🟡 Yellow: PUT L1 ITM (shares will be assigned)
  • 🔵 Blue: PUT L2 ITM (additional shares will be assigned)
  • ⚠️ Risk column: 🟢/🟡/🔴 with tooltip (reasons + hints + details).
  • Underlying price below the option row ("Aktie: …" / "Stock: …"): for

options without shares in the depot (PUT L1, naked call) we show the underlying price so you can trace the strike color. The source is displayed in parentheses next to the price:

  • (Live) — straight from the IBKR Gateway. Real-time if you hold an

active IBKR market-data subscription.

  • (delayed ~15 min) — from yfinance. US stocks are typically about

15 minutes behind here.

  • (close) — last official regular-session close (identical to

what MSN/Yahoo/your broker publish). Shown as main value whenever pre-market or after-hours moves deviate by more than 1 % from the close.

  • (snapshot N h/day(s) ago) — from the fundamentals snapshot,

because neither the gateway nor yfinance returned a live price (e.g. outside trading hours or gateway not connected).

  • (outdated (N day(s) ago)) with a ⚠ icon — snapshot is older

than 24 hours. The value is dimmed and italic. Please verify the price with your broker before placing any order.

  • Extra line "Pre-market" / "After-hours": outside regular US trading

hours (09:30-16:00 New York), if a significant trade takes place and the price deviates by more than 1 % from the close, we show it as a dedicated line below the underlying — green if up, red if down. These values are volatile, print on lower volume and are not the official close; they do show where the market is trading right now, which is important for assessing assignment risk before the opening bell.

  • Trend arrows next to the symbol: two small icons per underlying

show the day trend (1d) and the 20-day trend (20d):

  • 📈 green = up (1d: > +0.5 % today vs. yesterday; 20d: linear slope > +0.15 %/day)
  • 📉 red = down (1d: < -0.5 %; 20d: slope < -0.15 %/day)
  • ➖ yellow = sideways
  • no icon = not yet loaded or no trend available

Source: yfinance daily closes over ~22 trading days, server-side cached for 1 h. Lets you see at a glance whether an underlying is turning today or whether the medium-term trend is still intact — no need to open the chart.

💰 Limits

Account overview (net liquidation, cash, stock value, option value, buying power), capital allocation (stock bound, short-put reserve, options gross) and leverage metrics (exposure / NLV, cash coverage, stocks / NLV).

Rules of thumb:

  • Exposure / NLV below 100 % → unleveraged. Above 150 % → risky.
  • Cash coverage below 100 % → cash gap on full assignment.

Short-put limits

Three bars show how close you are to your protective caps:

  • SP L1 (capital limit) — counts stock underlyings + L1 puts (puts without stock backing). Default max 7. Prevents excessive directly-bound capital before margin is used. The bar shows two colour segments on the same line: blue = stock, violet = L1 puts, grey = free. Example: 4 stocks + 2 L1 puts of max 7 → shows "Stock 4 · L1 put 2 · free 1".
  • SP L2 (with stock) — counts short puts on already-owned stocks. Default max 3. L2 uses margin but carries lower risk thanks to the stock backing.
  • Cash reserve — compares cash with short-put reserve. On full assignment cash must be ≥ reserve. Green = fully covered, amber = under-covered, red = over-allocated (negative share of NLV).

Defaults match the desktop app; per-account overrides via the strategy profile are coming next.

⚠️ Risk

Portfolio risk dashboard mirroring the desktop app. Three KPI tiles:

  • Assignment capital (all PUTs) — how much cash you'd need if ALL of

your short puts got assigned at once (worst case). Per put: strike × 100 × contracts. Example: 1 AAPL put with strike 175 = $17,500. If this shows $0 you simply have no open short puts — covered calls (short calls) are not counted here.

  • Reg-T margin (estimated) — Reg-T is the US margin rule

("Regulation T"). It's the cash your broker locks as collateral for each short put, not the full strike. Formula: max(20 % × underlying − OTM distance, 10 % × strike) × 100 × contracts. Typically only 20-30 % of the assignment capital. Your real IBKR margin may differ under portfolio margin.

  • Δ Portfolio delta — delta measures how your portfolio moves when the

underlying moves by +$1. Aggregated over all options + stocks. +100 behaves like 100 long shares (bullish), −100 like 100 short shares (bearish), near 0 = delta neutral.

Below that, a portfolio greeks panel with Δ delta, Γ gamma, Θ theta and ν vega computed via Black-Scholes (IV fallback 30 % since the web DB does not store live IV).

Below that, two tables:

  • Top put options — sorted by capital risk, up to 8 rows, with sector

bullet (🟢 < 30 % / 🟡 30-40 % / 🔴 > 40 %), DTE coloring and symbol link to the Company tab.

  • Stock positions — sorted by market value, with sector bullet, P/L

coloring and symbol link to the Company tab.

🗓️ Diversification Risk

Symbol and sector distribution of your current stock positions. Short puts are NOT counted as cash-reserve stocks here — you see the actual reality of your portfolio. The "what-if-all-puts-get-assigned" comparison sits right below in the forecast block.

  • Symbol concentration — bullets 🟢 < 20 % / 🟡 20-30 % / 🔴 > 30 %.

Value-based: stocks only (shares × current price, fallback: cost basis).

  • Sector distribution — bullets 🟢 < 30 % / 🟡 30-40 % / 🔴 > 40 %.

Sector data comes from the fundamentals tables.

  • Sector breakdown (donut) — visualization of sector shares as a donut

chart with legend.

  • Hints — automatic evaluation hints (too few sectors, concentration

risks above 40 %).

🔮 Forecast: all open PUTs assigned

Right below the main panel: a collapsible block showing how the stock concentration would shift if all open short PUTs were assigned at expiry. Compares "before (stocks now) → after (stocks + all puts)" per symbol and per sector, with a delta column and color highlight on worsening.

The header carries a status badge:

  • 🟢 stays in the green zone — no new concentration on assignment.
  • 🟡 concentration rises — a symbol or sector tips into yellow.
  • 🔴 concentration risk emerges — symbol ≥ 30 % or sector ≥ 40 % after assignment.

So you can see, even without placing a new order, where your wheel strategy is currently heading — and whether a concentration cluster is about to form.

When sending a new order: in the "Send order to IBKR" dialog you also find a "Diversification preview after assignment" button. It uses the same before-basis (current stocks) and simulates how this one new trade would shift the allocation. If it creates a new concentration risk (🔴), an acknowledgement checkbox is mandatory before sending.

Usage

The selected sub-tab persists in localStorage; reloading the page keeps you on the same tab. Data refreshes every 60 seconds; a manual refresh button is also available.