Radar Tool
# of Legs
Description
Tail-Risk Hedge Simulator
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The Firebird Tail-Risk Hedge Simulator subjects your portfolio to a rigorous "Black Swan" reality check, replaying historical disasters like the 2008 Financial Crisis to quantify exactly how your current positions would withstand a catastrophic 6-sigma event. It strips away the illusion of safety by enforcing a "Correlation Unity" stress test, revealing critical vulnerabilities where seemingly uncorrelated assets move in lockstep during panic selling to potentially wipe out "fake" hedges that rely on normal market mechanics. Beyond mere survival, the tool utilizes a Hedge Monetization Calculator to estimate the realizable value of illiquid deep OTM puts, helping you distinguish between hedges that slowly bleed value and those that will successfully explode to generate cash for buying the dip. Consequently, this simulator transforms vague anxiety into a concrete survival plan, ensuring your portfolio is architecturally sound enough to withstand market hurricanes while positioning you to capitalize on the subsequent recovery.
Gamma Scalping Tracker
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The Firebird Gamma Scalping Tracker automates the mechanically intensive process of long volatility trading by continuously monitoring your Net Delta to generate precise, non-emotional rebalancing signals that capture profit from market noise. By maintaining a real-time scoreboard that compares your daily "Theta Bill" against your realized scalping profits, this tool answers the critical question of whether current market volatility is sufficient to offset the cost of your time decay. It unifies your stock and option performance into a single metric, visualizing how every scalp reduces your cost basis and moves you closer to a "risk-free" status where your crash protection is fully paid for by trading profits. Consequently, this transforms range-bound "chop" from a frustration into a steady income stream, allowing you to systematically harvest volatility rather than passively waiting for a directional move.
Protective Put Layer Planner
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The Firebird Protective Put Layer Planner treats portfolio protection as a precise architectural project, helping you construct a "defense in depth" strategy by layering put options across multiple strikes and expirations to cover specific drawdown scenarios,. Instead of buying expensive, generic insurance, this tool utilizes a "Laddered" Defense Engine to deploy specific layers—from near-term "Bumpers" for daily volatility to deep OTM "Ejection Seats" for black swan events—ensuring you are protected against both minor corrections and total market crashes,. It optimizes your "Cost-to-Protection Ratio" to calculate the exact deductible of your hedge, allowing you to identify self-financing strategies like Collars that minimize the daily drag on your returns,,. Consequently, this planner transforms hedging from a panic purchase into a strategic asset, empowering you to monetize a crash by knowing exactly when to sell your exploded puts to generate cash for buying the bottom.
Dynamic Delta-Neutral Rebalancer
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The Firebird Dynamic Delta-Neutral Rebalancer acts as an intelligent autopilot for portfolio equilibrium, solving the critical trade-off between rebalancing too often, which destroys profits through "churn," and rebalancing too rarely, which exposes you to dangerous directional drift. Instead of using fixed targets, this tool utilizes "Volatility-Adjusted Tolerance Bands" that dynamically expand during quiet markets to prevent unnecessary transaction costs and tighten during high volatility to ensure strict protection against runaway moves. When an adjustment is required, the built-in "Cheapest Path" Solver scans your holdings and the option chain to identify the most capital-efficient method to restore neutrality, ensuring you choose the specific trade that minimizes margin requirements and slippage. Consequently, this transforms high-maintenance portfolio management into a "set-and-forget" protocol, allowing you to harvest volatility by systematically selling deltas as markets rise and buying them as markets fall without emotional interference.
Hedge Efficiency Analyzer
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The Firebird Hedge Efficiency Analyzer audits your portfolio protection strategy by mathematically comparing the daily cost of your hedges against the actual crash protection they provide, By calculating the precise "Efficiency Ratio" of your positions, this tool reveals whether you are getting maximum downside coverage for the minimum amount of daily "drag" on your returns, Instead of allowing you to rely on expensive, generic market hedges, the analyzer scans for correlation mismatches and suggests cost-effective alternatives—such as sector-specific options or volatility spreads—to target your specific risks. Consequently, this allows you to treat risk management as a strategic asset rather than a "tax" on performance, ensuring your bull market gains are not slowly bled dry by inefficient insurance premiums.
RINA Index – The RINA index is a proprietary index that combines Select Total Net Profit, time in the market, and drawdown calculations into a single reward/risk ratio, that can be used to compare strategies The larger the number the more efficient/risk adverse the strategy.
RINA Index = (Select Total Net Profit)/((average drawdown) x (percent time in the market)) The TradeStation Strategy Performance Report displays the RINA Index for All Trades Only.
Adjusted Net Profit as % of Largest Loss – Displays the percentage of Adjusted Total Net Profit to the single worst unprofitable completed trade (see Note) during the specified period. Adjusted Net Profit / Largest Loss = Adjusted Total Net Profit divided by Largest Losing Trade.
Adjusted profit and loss is calculated by looking at the number of trades, subtracting the square root, multiplied by the average profit or loss. The concept here is that strategy may perform better live than the adjusted historical performance.
Takes into account commissions (and slippage, if specified for strategies) plus possible currency conversion factors.
Adjusted Net Profit as % of Max. Drawdown (Trade Close to Trade Close) – Displays the percentage return of the Adjusted Net Profit to the greatest loss drawdown, from the previous highest equity run-up, closed trade to closed trade, (including commissions and slippage if specified) looking across all trades, during the specified period. Adjusted Total Net Profit as % of Maximum Drawdown (Trade Close to Trade Close) = Adjusted Total Net Profit divided by Maximum Drawdown (Trade Close to Trade Close).
Adjusted profit and loss is calculated by looking at the number of trades, subtracting the square root, multiplied by the average profit or loss. The concept here is that strategy may perform better live than the adjusted historical performance.
Takes into account commissions (and slippage, if specified for strategies) plus possible currency conversion factors.
Largest Consecutive (Gain / (Loss) – Displays the largest profit or loss for a consecutive winning or losing series during the specified period for the strategy.
Win Rate – Displays the percentage of completed trades that were profitable, during the specified period. Percent Profitable = Winning Trades divided by Total Number of Trades.
% Time in Market – Displays the percentage of total time that your trades were in the market, either Long or Short, not including flat periods between trades (see Note). Generally, the greater amount of time you are in the market, the greater the risk exposure. Displays for All Trades only.
Percent of Time in the Market = Trading Period divided by Time in the Market
Takes into account commissions (and slippage, if specified for strategies).