Hermēs DocumentationPortfolio
The Portfolio window aggregates every structure built in the Strategy Workshop into one portfolio risk sheet — total Delta/Gamma/Theta/Vega, max P/L and theoretical probability of profit — so you can see net exposure across stacked structures before you trade. Requires Pro.
The Portfolio window aggregates every structure you build in the Strategy Workshop into one portfolio risk sheet: total Delta/Gamma/Theta/Vega, each structure's per-leg Greeks, max P/L and theoretical probability of profit. When you hold several structures at once, it answers "am I net long or short overall, and how big is my vol exposure". Requires Pro.
Open it in the Options Desk via ＋ New Window → Data & Analytics → Portfolio.
Who it is for
Options traders managing multiple structures. The Strategy Workshop already gives per-structure risk; the Portfolio solves the net exposure of stacked structures — avoiding "two structures each look fine, but combined the Delta is badly imbalanced".
Panel walkthrough
Empty state
With no structures built, it prompts open and build a "position builder" window first. Build legs in the Strategy Workshop and it will aggregate here.
Total portfolio Greeks
The top aggregates Δ Delta / Γ Gamma / Θ Theta / V Vega across all structures — see the portfolio's current direction, convexity, time and vol exposure at a glance.
Per-structure cards
One card per Strategy Workshop instance, listing that structure's per-leg Greeks, max profit / max loss and theoretical PoP N%, making it easy to check each contribution source.
How to read it
Portfolio Δ far from 0 → large directional exposure; a reversal hurts the whole book, consider hedging. Portfolio Θ positive and Γ negative → a classic short-premium book: earns time, fears big moves. Portfolio V too large → sensitive to IV changes; trim or Vega-hedge before events.
Typical workflow
- Build each structure in one or more Strategy Workshop windows.
- Open the Portfolio to see total portfolio Greeks and confirm overall direction and vol exposure match your intent.
- If Delta / Vega is imbalanced, go back to the Strategy Workshop to add a hedge leg or trim.
- For advanced hedging ideas see Delta-neutral hedging.
Next steps
Frequently asked questions
Why is the Portfolio window empty?
The Portfolio aggregates positions already built in the Strategy Workshop; open and build a structure in one or more Strategy Workshop windows first, and the Portfolio will show aggregated data.
What metrics does the Portfolio show?
Portfolio-level total Delta/Gamma/Theta/Vega, each structure's per-leg Greeks, max profit/max loss, and theoretical probability of profit (PoP).
What subscription does the Portfolio need?
The Portfolio is a Pro window — log in with a Pro or higher subscription.
Strategy Workshop
The Strategy Workshop turns a GEX structural read into a concrete option combo — from template legs, P&L curve and theoretical probability of profit to live P&L and Greeks attribution — a one-stop bench for structure design and risk metrics. Requires Pro.
GEX Data Center
The GEX Data Center gives precise per-strike GEX values — control node, HVL, Call/Put transition, MaxPain and anomaly exposure — with ladder comparison across 0DTE/next-day/all-expiry. It is the numeric bedrock for futures and options traders to verify key levels. Requires Pro.