Show Position Value at Bid Price in Portfolio

[orionanomaly]

Hi all! First week using TOS and trying to get the Position Statement (Monitor Tab) to show my position's value at the BID PRICE (e.g. if I liquidated all securities at the bid price/market price what is the float value NOW?).

I easily added the Bid and Bid X columns to the position sheet, but by default only the MARK price is shown (which is esp. useless with illiquid options as it often doesn't even approximate the bid price). But ok I have the BID PRICE displayed AND the TRADE PRICE (ie cost) so in theory I can just difference them in my head... BUT why can't I get a column that literally just subtracts these 2 numbers??

*I tried writing a function but 'bid' keeps coming up as an error (I've seen scripts which are just 'bid-ask' written and they work, so no idea what I'm doing wrong there. I also know there are portfolio-specific functions, and I believe I read that 'BID' won't work with them. But all I want is a simple subtraction of two values ALREADY in the portfolio window so I'm thinking it must be possible?!

***I also know I'm not insane because Schwab's trading platform explicitly has a setting where you can force everything to display valued at the BID price, so clearly some people find this useful.

ANY help would be awesome, first time poster.
Thanks

***I saw someone create a new column this easily in their options trade window (could this work for the portfolio window? I haven't even been able to get this simple subtraction to work...

https://imgur.com/a/EVBm1UM

 

[Slippage]

*I tried writing a function but 'bid' keeps coming up as an error (I've seen scripts which are just 'bid-ask' written and they work, so no idea what I'm doing wrong there. I also know there are portfolio-specific functions, and I believe I read that 'BID' won't work with them. But all I want is a simple subtraction of two values ALREADY in the portfolio window so I'm thinking it must be possible?!

I haven't written anything for the monitor tab before but this may get you the price you want. It works in charts.

def bid = close(priceType = PriceType.BID);

 

[orionanomaly]

Thank you for your response! So firstly, it seems I've discovered that custom columns cannot be added to the monitor panel, so that probably will not work. I'm very surprised TOS doesn't have this option or at least a manual way to input it since Schwab allows you to display prices as the bid price.

*I'm not sure that's what I would need - I'm looking to do: Gain/Loss=Trade Price - Bid, but it looks like no columns can be added to the panel even if I could get it to work

If I misunderstood though I'd love someone to correct me.

 

[Slippage]

You can add custom columns on the Monitor -> Activity and Positions tab in the Position Statement section by clicking the gear icon that appears above the column headers on the right. For some reason they made that UI slightly different than, for instance, on the Monitor -> Account Statement tab where the gear icon is in line with the column headers and matches the UI design in other areas of TOS.

However, it appears portfolio functions can't be used in watchlists so getting the prices to do your calculation doesn't seem possible in a watchlist column.

If the portfolio functions were enabled the code would be as simple as:

def bid = close(priceType = PriceType.BID);
def cost = GetAveragePrice();
plot PLBid = (bid - cost);

This code works correctly in a chart. For instance, if displayed as a label instead of a plot. I'm not sure why portfolio functions aren't available in watchlist columns.

Don't let the close function fool you there. While the current period hasn't yet closed, for instance the current 1 hour period with extended hours enabled, close is the constantly updating price up to that moment and in the code above we told it we want the bid price.