However, if you're an active trader or want to drill deeper into your positions, there are other ways to track performance, but first, let's familiarize ourselves with some terms and how to access them on the thinkorswim® platform.
Profit/Loss (P/L) Day is the amount of money made or lost on your position from last night's close to the current mark, plus any intraday profit and loss. You can see the current price for any stock or option in your position on the Position Statement.
P/L Open is the amount of money made or lost on your position since the inception of the trade. You can see the execution price for any stock or option in your position by going to the Monitor tab and selecting the P/L Open dollar amount.
P/L Year-to-Date (YTD) is the amount of money made or lost in a particular underlying security in the current calendar year. It includes the P/L for all open positions and any closed positions made for a specific stock or index done in a calendar year.
P/L % calculates the percentage of money made or lost as a function of your execution price. This takes the P/L Open as the numerator and your execution price as the denominator. Keep in mind, when it comes to options, this will only calculate the P/L of single options and does not include spreads.
These four unique calculations can be used to measure your portfolio in various ways. For example, let's say on the first trading day of the year, you start with $100,000 in your account and no open positions. You then buy 500 shares each of QRS and XYZ stock, both of which are trading for $10. Assuming both stocks immediately go up $1, your P/L would look like this (please be mindful that this example excludes commissions and transaction fees).