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Campaigns and portfolios
One strategy on one underlying is a campaign. Portfolios group campaigns the way your brokerage accounts do.
What belongs in one campaign
A campaign is one strategy, on one underlying, over time. It is not one trade and not one expiration cycle. A wheel you have been rolling on TLT since March is a single campaign with forty trades in it, and that is the point: the realized P/L at the top of the page is the answer to "has this idea made me money", not "did last week's roll make me money".
Some rules of thumb:
- One underlying per campaign. This is enforced — the underlying is fixed when you create the campaign, and every trade books against it. Pricing, break-even and the risk graph all assume a single underlying.
- Split when the thesis changes, not when the contract does. Rolling a short call out a month is the same campaign. Deciding to stop wheeling TLT and instead run a PMCC on it is a new one.
- Split when the account changes. Legs in different brokerage accounts do not offset each other in real life, and mixing them makes the capital requirement fiction.
-
Name it so you recognise it in a list of forty. The dashboard groups by
portfolio and strategy, so the name does not need to repeat either —
Q3 rollbeatsTLT wheel campaign 3.
Strategy types
The type is descriptive metadata. It groups rows on the dashboard, filters reports, and tells you at a glance what you were trying to do. It does not change any calculation: the accounting and risk engines read your trades, not your label. Pick the closest fit and change it whenever you like.
| Type | Shape |
|---|---|
| Wheel | Cash-secured puts → assignment → covered calls → called away, repeat. Guide |
| CSP: Cash Secured Put | Short puts, cash set aside to buy the shares. |
| CC: Covered Call | Long shares with short calls sold against them. |
| PMCC: Poor Man's Covered Call | Long deep ITM LEAPS call standing in for the shares, short calls against it. Guide |
| IPMCC: Poor Man's Income Covered Call | PMCC run for income, with short strikes near the money. |
| PMCP: Poor Man's Cash Secured Put | The put-side mirror: long deep ITM LEAPS put, short puts against it. |
| Custom Calls / Custom Puts / Custom Puts + Calls | Anything else — spreads, ratios, condors, experiments. |
| Stock | Shares with no options on them. |
On the campaign page the type is inline-editable — click it, pick another, done. On the
dashboard, long names are shortened to fit the column, keeping the acronym and the last
word (PMCC: Poor...Call); the full name is in the cell's tooltip.
Portfolios
A portfolio is a named group of campaigns. Most people map them one-to-one onto brokerage
accounts — IRA, Margin, Taxable — because that is the
boundary that matters for capital and for tax. Every account has a Default
portfolio that cannot be removed.
- The dashboard renders one card per portfolio, with its own P/L and capital totals, and each card collapses.
- Reports can filter to any subset of portfolios.
- Create, rename-by-reassignment and delete portfolios from the portfolio modal on any campaign page. Deleting a portfolio does not delete its campaigns.
- A campaign's portfolio can be changed at any time from the same modal.
Reorganising after the fact
You will get the split wrong at some point. All of this is reversible:
- Rename — inline on the dashboard row, or on the campaign page header.
- Change strategy type or portfolio — on the campaign page header.
- Move trades to another campaign — select rows in the trades table and use Move selected. Targets are restricted to campaigns on the same underlying, because moving a TSLA trade into an AAPL campaign would corrupt both. Both campaigns' P/L and positions are recomputed on the move.
- Delete a campaign — this cascades to every trade in it and cannot be undone. Export it first if you might want it back.
Active and closed
A campaign is active when it still has an open leg or capital at risk, and closed when everything has been sold, expired or assigned away. Nothing is archived and nothing needs to be marked finished — the dashboard's view toggle decides which set you are looking at, and the closed view adds a time-frame filter matched against each campaign's last trade date. A closed campaign keeps its full history and its realized P/L keeps counting in reports.
Getting data back out
- Settings has a full JSON export of every campaign, trade and portfolio on the account — one file, no filtering, yours to keep. See Settings and your data.
- Reports is the place to slice history: filter by portfolio, strategy and underlying over any period.