Trading since May 4
Flagship
SPX credit spreads with two option legs. It can take bullish or bearish positions, typically expiring the same day.
Total trading P&L
+$23,634.50Closed trades+$23,634.50
Open positions$0.00
77 completed orders
QUANTGLIDE STRATEGIES
Account performance
Flagship and Apex, with a clear view of results after paid fees and a quarterly fee reserve.
LATEST COMPLETED STATEMENTOctober 23, 2026End-of-day statement
Estimated net profit after quarterly fees
+$13,681.45
Previously paid advisory fees of $1,297.13 are already deducted. Also deducts the estimated Q4 2026 fee reserve.
+9.12%estimated net profit / net contributions
- Profit after paid fees
- +$16,051.21
- Less estimated Q4 2026 reserve
- $2,369.76
Full-quarter reserve · no further gains or losses · SPX assumption 0%
$150,000 net contributed · Funded April 30, 2026
Closing account value
$167,099.71Value reported by Interactive BrokersDay’s account change
+$3,354.84+2.05% on October 23Open-position profit
$0.00Unrealized at the statement closeIncludes interest and open-position values.Includes a potential quarterly fee reserve; final charges may differ.See the calculation
Strategy results through October 23, 2026.
THE PERFORMANCE RECORD
Trading performance
+$23,634.50Flagship cumulative realized P&L
After commissionsBefore advisory fees & interest
Move across the chart to inspect daily results.
View chart data
| Date | Cumulative realized P&L |
|---|
MONTH BY MONTH
Flagship trading results
TWO STRATEGIES, ONE ACCOUNT
Where the results come from
Strategy P&L includes commissions.
Advisory fees and interest appear at the account level.
Trading since September 2
Apex
Four-leg SPX iron butterflies with protective wings. It targets a profitable range at expiry, with same-day and overnight trades.
Total trading P&L, including open positions
−$8,291.88Closed trades−$8,291.88
Open positions$0.00
28 completed orders
Strategy assignments are inferred from execution groups and option structures. Manager-supplied trade labels and capital allocations are needed to confirm the breakdown and calculate strategy-specific percentage returns.
THE NET RESULT
What remains after costs
Cumulative results through October 23.
The reserve covers Q4 2026.
Account gain after paid fees
Trading profit includes open-position marks. Interest includes accrued interest. Advisory fees include charges paid both inside and outside IBKR. This chart ends at profit after paid fees; the quarterly reserve is deducted below.
Broker account gain $17,099.71Fees paid outside IBKR $1,048.50Net profit after paid fees +$16,051.21
After the quarterly fee reserve
Q4 2026 · based on the October 23 statement
- Profit after paid fees
- +$16,051.21
- Estimated management reserve
- $835.50
- Estimated performance reserve
- $1,534.26
- Estimated net profit
- +$13,681.45
Full-quarter reserve · no further gains or losses · SPX assumption 0%. Full-quarter estimate before any unverified payment credits; this is not an invoice or an amount accrued only through today. Review the assumptions ↗
PLAN FOR QUARTER END
Quarter-end fee forecast
Q4 2026 · quarter ending December 31, 2026
Based on the October 23 statement
ESTIMATED TOTAL ADVISORY FEES
$2,370Planning estimate · no further gains or losses · SPX assumption 0%
- Management estimate 2% annually ≈ 0.5% per full quarter
- $835
- Performance estimate 10% of net realized profit above the high-water mark
- $1,534
- Separate Apex license charge
- $0
Performance fee = 10% × new net realized trading profit above the high-water mark. Recovery of prior losses is excluded, and the SPX hurdle must also be met.
If the prior high-water mark is not exceeded or the SPX hurdle is not met, the performance fee is $0. Estimated management fee: $835.
Projected quarter’s realized trading profit+$22,452.93+15.56% of starting account valuePrior-loss recovery excluded from fees: $7,110.31
High-water mark for profit sharing$150,000The original mark was $150,000. Losing quarters do not lower it.
Projected profit above the high-water mark+$15,342.62After prior-loss recovery. The SPX hurdle must also be met.
How the estimate works
Management fee: a full-quarter planning approximation of 0.5% of the projected account value. IBKR’s actual fee method and any proration determine the final charge. The scenario holds interest and existing open-position values unchanged.
Performance fee: 10% of this quarter’s new net realized trading profit above the high-water mark, after recovering prior losses. The original $150,000 principal must be recovered before profit sharing begins; the recovery itself is excluded from the fee base. Net realized trading profit means closed-trade gains less closed-trade losses, commissions, exchange fees, and other trading costs, before advisory fees. Interest and unrealized gains are excluded. SPX is a soft hurdle, so eligible profit is not limited to the amount of SPX outperformance; this does not remove the high-water-mark protection.
Quarterly assessment and high-water mark: fees are assessed each calendar quarter. The original high-water mark is $150,000, equivalent to zero cumulative trading profit. The mark rises with prior quarter-end cumulative net realized trading profits; a losing quarter does not lower it. The fee base is capped at this quarter’s profit, so previously earned profit is not charged again. If the account has not exceeded that mark or has not outperformed SPX for the quarter, the performance fee is $0. Final quarter-end results and the manager’s fee statement determine actual charges.
The planned $100,000 addition: roughly $500 more in management fees for a full quarter at the current rate. It is excluded here until funded. The updated agreement defers performance fees attributable to new mid-quarter capital until the next quarter; an actual contribution pauses the performance estimate until its allocation is confirmed.
Headline fee reserve: the headline deducts the baseline full-quarter estimate from profit after verified paid fees. It assumes no further realized gains or losses and a 0% SPX quarter return; it is a reserve for potential charges, not a confirmed amount due. Any payment credits require confirmation of the billing period. New posted advisory payments or changes to the external paid-fee total pause the headline estimate until allocation is reviewed. The forecast below remains a gross estimate before credits. Scenario controls are personal to this page view and do not change the headline, broker balance, or paid-fee records. Both calculations refresh with each completed statement.
Terms reference: updated management agreement dated April 28, 2026, sections 3.1–3.10, plus the account’s Apex arrangement and the owner’s October 16 clarification of the $150,000 original high-water mark. Estimates remain subject to the executed agreement and manager’s fee statement. IBKR fee calculation reference ↗
Sources & calculation notes
Account figures
Source: Interactive Brokers completed Activity Flex reports through October 23, 2026. Net contributed capital is $150,000. Deposits and withdrawals are excluded from profit. The headline percentage is estimated net profit after the quarterly reserve divided by net contributed capital; it does not adjust for the timing of contributions.
The broker’s closing account value includes commissions, posted advisory fees, and interest. The additional $1,048.50 of externally paid advisory fees is deducted when calculating net profit and net return.
Trading charts and recovery
Charts show cumulative realized trading P&L after brokerage commissions. They exclude open positions, advisory fees, and interest. They are trading-profit charts, not historical account-value charts. The strategy cards separately include open-position P&L.
The 82-day measure runs from Flagship’s June 11 trading low to first breakeven on September 1. The 120-day measure runs from the preceding June 10 peak to its recovery on October 8. These are different measurements. Past recovery times do not predict future recoveries.
Update status
This page uses the completed statement through October 23, 2026. Results remain dated to the latest verified report; intraday estimates are excluded. A successful IBKR import updates this page. External advisory fees reflect the separately maintained paid-fee total.
Fee terms and the Apex license arrangement reflect the account’s agreed terms. The headline additionally deducts the baseline quarterly management and conditional performance reserve. Actual fees depend on final quarter-end results, the SPX hurdle, payment credits, and the manager’s fee statement. A pending-review estimate is shown without a net figure rather than treating unknown fees as zero.