Mark-to-market
Valuing a position at the current market price, refreshed continuously.
Mark-to-market (MTM) means valuing a financial position at its current observable market price, rather than at its book value or original cost.
Why it matters in a portfolio tracker: - **Honest P/L** — your unrealized gain or loss is the *current* market value minus the cost basis, not yesterday's close minus the cost basis. - **Options specifically** — option mid is volatile. A tracker that uses yesterday's close or the most recent trade can be wildly off; MTM at the live mid is the right number. - **Spreads** — for multi-leg structures, MTM applied per leg and aggregated is the only way to know what closing the position right now would cost or pay.
Limits: - For thinly-traded assets (some bonds, OTC structures), MTM at the last print may not reflect what you could actually transact at. Real-world execution would clear at a worse price. - For real-world assets (real estate, art), there's no live market. Periodic appraisals stand in.
Evibe MTMs every market position continuously, including options at live mid, and surfaces realized vs unrealized P/L separately for closed and open lots.