Closing Short Positions

Written By Oscar

Last updated 6 months ago

This article will guide you through the process of partially or fully closing a manually opened short position within the application. This action allows you to accurately record and finalize your trade, which will then be reflected in your performance metrics.

Step 1: Initiate the Close Position Process

  1. Navigate to the Current Positions table.

  2. Find the row corresponding to the short position you wish to close.

  3. Click the horizontal ellipses icon (...) on the left side of that row.

  4. From the "Position Actions" menu, select "Close Position".

This will launch the "Close Short Position" modal.

Step 2: The "Close Short Position" Modal

This is where you'll specify the details of your trade closure. The modal displays a summary of your short position, including the Total Quantity Available for that stock (which includes all shares from both brokerage-linked and manually entered trades).

The modal will show a list of all your individual, manually opened trade transactions for that stock. For each of these transactions (or "lots"), you will see the Open Price, Original Quantity, Open Date and Quantity Available for closing.

Inputting Your Details:

  • Quantity to Close: For each lot, enter the specific number of shares you want to close in the Quantity to Close field. You can only enter a value up to the Quantity Available for that lot.

  • Close Price: At the bottom of the modal, enter the price at which you are closing the position. This price will apply to all lots you entered values in.

  • Close Date: Enter the date on which the position is being closed.

Important Note: This modal will only show lots that you have manually entered. Trades from brokerage accounts cannot be managed or closed through this feature.

Once you've entered all the necessary information, click the "Proceed" button.

Step 3: The Confirmation Modal

After clicking "Proceed," a "Close Short Position Confirmation" modal will appear. This is your final chance to review the details before finalizing the transaction.

You will have two options:

  • "Edit Changes": Click this if you need to go back and make a correction. You'll be returned to the previous modal with your entered data preserved.

  • "Confirm": Click this to finalize the trade closure. The system will then:

    • Update the total quantity of the stock in your Current Positions table.

    • Create a new, distinct entry in your Closed Trades table for each lot you closed.

    • Calculate and record your realized gain for the transaction.

You can exit the entire process at any time by clicking the "X" button in the top-right corner of either modal.

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By using the Close Short Position modal, you can easily and accurately record the closure of your manually opened trades, ensuring your portfolio's performance metrics are up-to-date and your trade history is complete.

If you have any questions or encounter any issues, please contact our support team for assistance at support@orizonanalytics.io