In this exercise you create an alert using a Portfolio property condition so that you can be notified when the target portfolio metric fits the criteria. You can use these to evaluate the market value of your portfolio, net Greeks like theta, or aggregate Greeks like beta-weighted delta.
There is also an optional condition parameter to specify a book. This enables you to limit evaluation to the holdings for a specific underlying within the portfolio, which is really useful when managing a delta-neutral book or tracking a set of positions for a desired closing price.
The exercise begins on the dashboard. If you are not on the dashboard, you can always use the Dashboard link at the top of the window to get there.
Locate the section that says I want to manage my portfolio and account.
The portfolio tracker provides an easy way to track the positions in the selected portfolio. By default, Quantcha provides a “Paper” portfolio, which is a disconnected set of positions stored in your Quantcha account. You may make any changes you want to this portfolio to either reflect a real-world account or for experimentation.
In this exercise you use the Paper portfolio to create an alert relying on a portfolio property condition. The process is the same for alerts based on linked brokerage accounts, so everything you do here applies to those as well.
Select the Paper portfolio from the dropdown if it’s not already selected.
The alert created in this exercise will target the MSFT book in your portfolio. If you are currently tracking positions in MSFT, you can swap its references for another stock in this exercise. Either way, you will need a starting position.
From the Add Stock tab at the bottom, enter “MSFT” as the Symbol.
Select Add to add the default 100 shares at the last price. It doesn’t really matter what the quantity or price are since the condition will just look for a positive number.
Repeat the process to add 100 shares of TSLA (you can skip this step if you already have a TSLA position).
Now that the portfolio has some positions, it’s time to create the MSFT alert. There is a shortcut to create common alert types in the Actions menu below each underlying in the portfolio tracker.
From the Actions menu under MSFT, select Create book alert.
The alert editor opens to a default alert set up with a Portfolio property condition set to the Paper portfolio and the MSFT book. Note that these alerts will default to that specific book, whereas alerts created from the portfolio’s top-level Actions dropdown will evaluate the entire portfolio. You can easily adjust either of these using the Underlying field in the condition.
For Property, select Market Value.
For Comparison, select Greater Than.
For Low, enter “1”.
After being saved, this alert will trigger once the market value of your MSFT book exceeds $1. Since it’s pretty likely that’s already the case, it will trigger the first time it’s evaluated, which should be within five minutes. The market value is positive here because the book is long 100 shares. If the position were short shares instead, you’d need to account for the negative market value. For complex option positions, market values can be positive or negative, depending on the circumstances.
Watch your email for the notification. Review it once received.
There are a lot of interesting scenarios where Portfolio property conditions can be employed. Here are a few ideas to get you started: