Definition
What an open position would earn or lose if it were valued at the current market price. It moves with the market until the position closes and is not part of the record until then. Only closed and settled trades count toward the Autotrader's record.
Related terms
- P&L (profit and loss) — Net money made or lost after fees. Only closed positions count — an open one has no P&L yet.
- Mid-price — The midpoint between the best bid and best ask: the market's current price for a contract.
- Settlement — The market paying out when the game ends: $1 for the winning side, $0 for the other.