HAWK - PNL Breakup

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PnL Breakup

Definition

Basic Terminology

Fill Quantity

SOD PnL (Start-of-Day PnL)

PnL Breakup

Definition

The PnL Breakdown page provides a detailed analysis of profit and loss by separating it into two key components:

SOD PnL (Start-of-Day PnL) – Represents the profit and loss generated by carried positions from the previous day.
Fill PnL – Captures the PnL impact of intraday trades executed during the current trading session.

To help users gain deeper insights, the page offers interactive widgets such as pivot tables, enabling users to break down their PnL across multiple dimensions, including:

Product
Structure
Contract
Year / Month / Week / Date

This allows traders and analysts to easily analyze their performance and understand the key drivers of their PnL at various levels of granularity.

The PnL Breakup Charts helps in visualing the same concepts discussed in the PnL Breakup Table with better and appealing graphs which makes the analysis part very smooth and easy for the users.

Basic Terminology

Fill Quantity

Fill Quantity refers to the total number of fills (executed trades) a user has taken within a specific structure.

SOD PnL (Start-of-Day PnL)

SOD PnL represents the profit and loss generated by the positions carried from the previous day, assuming no new trades are executed during the current session.

To calculate SOD PnL, we use the settlement price of the carried position from the previous day and compare it to the settlement price of the current day.

Formula:

SOD PnL=(Number of Lots)×(Settlement Price on Current Day−Settlement Price on Previous Day)×Dollar Value

Example:

Suppose we are calculating SOD PnL for Product X, Contract Y on February 20th. We need:

The settlement price of Contract Y on February 19th
The settlement price of Contract Y on February 20th

If the contract price has gone up and SOD is positive (i.e. long) the SOD PnL will be positive. If the position was short, SOD PnL will be negative.

Understanding Dollar Value:

Dollar Value represents the amount a trader gains or loses for a $1 move in the market. For example, in Brent Crude Oil (BCO):

The tick size is 0.01
The tick value is $10
Dollar Value = 1/0.01×10=1000

This means a $1 price movement in the market results in a $1000 impact per lot.

Fill PnL

Fill PnL measures the profit or loss from intraday trades by comparing the fill price (execution price) to the day’s settlement price.

Formula:

Fill PnL=(Fill Quantity)×(Settlement Price on Fill Day−Fill Price)×Dollar Value

This helps in assessing how much PnL was generated specifically from intraday trading activities.

PnL Breakup Table

Example

The following is the example as how both the SOD and FIll PnL is calculated for the Product X with Dollar Value as 1(chosen for simplicity of example) and the number of lots/positions as 1(chosen for simplicity of example) and the analysis is being done for 3 days. This example will help understand both the formulas and the calculations with them as well.

Hawk Docs

PnL Breakup Charts

Definition

The PnL Breakup Charts helps in visualing the same concepts discussed in the PnL Breakup Table with better and appealing graphs which makes the analysis part very smooth and easy for the users.
The Page provides various visualisations like PnL Breakup, Contract Total PnL, SOD PnL, Datewise PnL, Contract Fill PnL and Structure Fill PnL. The definitions and usage of each of the chart is explained below.

The charts also come with various option of Zooming in, Zooming Out, Reverting to Original State, Downloading the Graph as image, Downloading the data for the graph in the form of csv which can be found in the icons on the top right corner of every graph.

Chart definitions

PnL Breakup: The chart shows the SOD and FIll PnL bars along with the Equity SOD PnL and Equity Gross PnL where the gross pnl is derived from the productwise clearer files and should match with the productwise tab of hawk.

Contract Total Fill PnL: The chart shows the PnL, SOD and Fill combined, for each Contract of all the Products selected along with the Equity PnL line.

SOD PnL: The chart shows the SOD PnL for each Contract of all the Products selected along with the Equity PnL Line.

Datewise PnL: The chart shows the PnL, SOD and Fill combined, for each Date along with the Equity PnL Line

Contract Fill PnL: The chart shows the PnL generated due to the Fills i.e Fill PnL for each Contract along with the Equity PnL

Structure Fill PnL: The chart shows the PnL generated by Fills i.e Fill PnL for each Structure along with Equity Fill PnL Line.

Hourly Charts

Hourly charts provide valuable insights into a trader’s performance by breaking down PnL over different time intervals throughout the day. They help identify patterns and trends in trading activity, allowing users to assess which time periods contribute to profits or losses.

For example, a trader might consistently make profits during European trading hours but incur losses in American trading hours. By analyzing hourly trends, users can identify such patterns and adjust their strategies accordingly.

These charts can be particularly useful for:

Identifying profitable and unprofitable time periods
Assessing market conditions in different trading sessions
Refining trading strategies based on time-based performance

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