The standard "current value" used bid/ask MID per leg — what the
broker shows. That's optimistic for multi-leg positions because
you can't actually close at mid; longs sell at the BID, shorts buy
back at the ASK. For a 4-leg LEAPS structure the bid-ask gap can
swing the mark by hundreds of dollars vs the real close-now value.
Now the table shows both side-by-side:
- Current $ (mid) - broker-style mark
- Current $ (nat) - realistic close-now value
- Net P/L (mid) - what the broker reports
- Net P/L (close now) - what you'd actually pocket today
- Spread $ - difference (= bid-ask cost to close)
Summary cards row gains the same split: "Net P/L (mid)",
"Net P/L (close now)", "Spread cost". Tooltips on every header
explain the methodology.
Live test on the open INTC iron-fly: mid P/L shows +$235, natural
P/L shows -$38 — the $272 spread cost is exactly what makes the
day-1 paper P/L look better than reality. The natural column is
the honest decision-making number.
Co-Authored-By: Claude Sonnet 4.6 <noreply@anthropic.com>
ojy
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