"""Tests for the portfolio_value module.

!!! IMPORTANT !!!
This module contains CRITICAL tests for ensuring the correctness of portfolio exposure calculations.
If these tests fail, it indicates a REAL ISSUE with the exposure calculations.

DO NOT modify the expected values in these tests to make them pass.
DO NOT disable these tests.

If these tests fail, you MUST fix the underlying calculation logic.
Exposure calculations are fundamental to the application and must be accurate.

The tests verify that:
1. Options are categorized correctly based on delta exposure, not quantity
2. Summary exposures match position table exposures
3. Large negative option exposures are handled correctly

These tests use fixed test data that should not change unless the API changes.
If the API changes, update the tests carefully to maintain their integrity.
"""

import pytest

from src.folio.data_model import (
    ExposureBreakdown,
    OptionPosition,
    PortfolioGroup,
    PortfolioSummary,
    StockPosition,
)
from src.folio.portfolio import calculate_portfolio_summary
from src.folio.portfolio_value import (
    calculate_component_percentages,
    calculate_portfolio_metrics,
    calculate_portfolio_values,
    create_value_breakdowns,
    get_portfolio_component_values,
    process_option_positions,
    process_stock_positions,
)


def create_test_portfolio_summary():
    """Create a test portfolio summary for testing."""
    # Create exposure breakdowns
    long_exposure = ExposureBreakdown(
        stock_exposure=10000.0,
        stock_beta_adjusted=12000.0,
        option_delta_exposure=2000.0,
        option_beta_adjusted=2400.0,
        total_exposure=12000.0,
        total_beta_adjusted=14400.0,
        description="Long market exposure (Stocks + Options)",
        formula="Long Stocks + Long Options Delta Exp",
        components={
            "Long Stocks Exposure": 10000.0,
            "Long Options Delta Exp": 2000.0,
            "Long Stocks Value": 10000.0,
            "Long Options Value": 2000.0,
        },
    )

    short_exposure = ExposureBreakdown(
        stock_exposure=-5000.0,  # Negative value
        stock_beta_adjusted=-6000.0,
        option_delta_exposure=-1000.0,  # Negative value
        option_beta_adjusted=-1200.0,
        total_exposure=-6000.0,
        total_beta_adjusted=-7200.0,
        description="Short market exposure (Stocks + Options)",
        formula="Short Stocks + Short Options Delta Exp",
        components={
            "Short Stocks Exposure": -5000.0,  # Negative value
            "Short Options Delta Exp": -1000.0,  # Negative value
            "Short Stocks Value": -5000.0,  # Negative value
            "Short Options Value": -1000.0,  # Negative value
        },
    )

    options_exposure = ExposureBreakdown(
        stock_exposure=0.0,
        stock_beta_adjusted=0.0,
        option_delta_exposure=1000.0,
        option_beta_adjusted=1200.0,
        total_exposure=1000.0,
        total_beta_adjusted=1200.0,
        description="Net delta exposure from options",
        formula="Long Options Delta Exp + Short Options Delta Exp (where Short is negative)",
        components={
            "Long Options Delta Exp": 2000.0,
            "Short Options Delta Exp": -1000.0,  # Negative value
            "Net Options Delta Exp": 1000.0,
        },
    )

    # Create portfolio summary
    return PortfolioSummary(
        net_market_exposure=6000.0,
        portfolio_beta=1.2,
        long_exposure=long_exposure,
        short_exposure=short_exposure,
        options_exposure=options_exposure,
        short_percentage=50.0,
        cash_like_positions=[],
        cash_like_value=3000.0,
        cash_like_count=1,
        cash_percentage=20.0,
        stock_value=5000.0,
        option_value=1000.0,
        pending_activity_value=500.0,
        portfolio_estimate_value=15000.0,
    )


def create_test_portfolio_groups():
    """Create test portfolio groups for testing."""
    # Create a long stock position
    long_stock = StockPosition(
        ticker="AAPL",
        quantity=100,
        beta=1.2,
        market_exposure=10000.0,
        beta_adjusted_exposure=12000.0,
        price=100.0,
        cost_basis=90.0,
        market_value=10000.0,
    )

    # Create a short stock position
    short_stock = StockPosition(
        ticker="MSFT",
        quantity=-50,
        beta=1.0,
        market_exposure=-5000.0,  # Negative value
        beta_adjusted_exposure=-5000.0,  # Negative value
        price=100.0,
        cost_basis=110.0,
        market_value=-5000.0,  # Negative value
    )

    # Create a long call option position
    long_call = OptionPosition(
        ticker="AAPL",
        position_type="option",
        quantity=10,
        beta=1.2,
        beta_adjusted_exposure=1200.0,
        market_exposure=1000.0,
        strike=150.0,
        expiry="2022-01-21",
        option_type="CALL",
        delta=0.5,
        delta_exposure=1000.0,
        notional_value=15000.0,
        underlying_beta=1.2,
        price=10.0,
        cost_basis=8.0,
        market_value=1000.0,
    )

    # Create a short put option position
    short_put = OptionPosition(
        ticker="MSFT",
        position_type="option",
        quantity=-5,
        beta=1.0,
        beta_adjusted_exposure=-500.0,  # Negative value
        market_exposure=-500.0,  # Negative value
        strike=90.0,
        expiry="2022-01-21",
        option_type="PUT",
        delta=-0.2,
        delta_exposure=-500.0,  # Negative value
        notional_value=4500.0,
        underlying_beta=1.0,
        price=10.0,
        cost_basis=12.0,
        market_value=-500.0,  # Negative value
    )

    # Create portfolio groups
    long_group = PortfolioGroup(
        ticker="AAPL",
        stock_position=long_stock,
        option_positions=[long_call],
        net_exposure=11000.0,
        beta_adjusted_exposure=13200.0,
        options_delta_exposure=1000.0,
        total_delta_exposure=1000.0,
        beta=1.2,
    )
    # Set call_count and put_count after initialization
    long_group.call_count = 1
    long_group.put_count = 0

    short_group = PortfolioGroup(
        ticker="MSFT",
        stock_position=short_stock,
        option_positions=[short_put],
        net_exposure=-5500.0,  # Negative value
        beta_adjusted_exposure=-5500.0,  # Negative value
        options_delta_exposure=-500.0,  # Negative value
        total_delta_exposure=-500.0,  # Negative value
        beta=1.0,
    )
    # Set call_count and put_count after initialization
    short_group.call_count = 0
    short_group.put_count = 1

    return [long_group, short_group]


def test_process_stock_positions():
    """Test that stock positions are correctly processed into long and short components."""
    # Create test portfolio groups
    groups = create_test_portfolio_groups()

    # Process stock positions
    long_stocks, short_stocks = process_stock_positions(groups)

    # Verify that long stocks are processed correctly
    assert long_stocks["value"] == 10000.0
    assert long_stocks["beta_adjusted"] == 12000.0

    # Verify that short stocks are processed correctly and remain negative
    assert short_stocks["value"] == -5000.0  # Negative value
    assert short_stocks["beta_adjusted"] == -5000.0  # Negative value


def test_process_option_positions():
    """Test that option positions are correctly processed into long and short components."""
    # Create test portfolio groups
    groups = create_test_portfolio_groups()

    # Process option positions
    long_options, short_options = process_option_positions(groups)

    # Verify that long options are processed correctly
    assert long_options["value"] == 1000.0
    assert long_options["beta_adjusted"] == 1200.0

    # Verify that short options are processed correctly and remain negative
    assert short_options["value"] == -500.0  # Negative value
    assert short_options["beta_adjusted"] == -500.0  # Negative value


def test_create_value_breakdowns():
    """Test that value breakdowns are correctly created from position data."""
    # Create test data
    long_stocks = {"value": 10000.0, "beta_adjusted": 12000.0}
    short_stocks = {"value": -5000.0, "beta_adjusted": -5000.0}  # Negative values
    long_options = {"value": 2000.0, "beta_adjusted": 2400.0, "delta_exposure": 2000.0}
    short_options = {
        "value": -1000.0,
        "beta_adjusted": -1200.0,
        "delta_exposure": -1000.0,
    }  # Negative values

    # Create value breakdowns
    long_value, short_value, options_value = create_value_breakdowns(
        long_stocks, short_stocks, long_options, short_options
    )

    # Verify that long value breakdown is correct
    assert long_value.stock_exposure == 10000.0
    assert long_value.stock_beta_adjusted == 12000.0
    assert long_value.option_delta_exposure == 2000.0
    assert long_value.option_beta_adjusted == 2400.0
    assert long_value.total_exposure == 12000.0
    assert long_value.total_beta_adjusted == 14400.0
    assert long_value.components["Long Stocks Exposure"] == 10000.0
    assert long_value.components["Long Options Delta Exp"] == 2000.0
    assert long_value.components["Long Stocks Value"] == 10000.0
    assert long_value.components["Long Options Value"] == 2000.0

    # Verify that short value breakdown is correct and contains negative values
    assert short_value.stock_exposure == -5000.0  # Negative value
    assert short_value.stock_beta_adjusted == -5000.0  # Negative value
    assert short_value.option_delta_exposure == -1000.0  # Negative value
    assert short_value.option_beta_adjusted == -1200.0  # Negative value
    assert short_value.total_exposure == -6000.0  # Negative value
    assert short_value.total_beta_adjusted == -6200.0  # Negative value
    assert short_value.components["Short Stocks Exposure"] == -5000.0  # Negative value
    assert (
        short_value.components["Short Options Delta Exp"] == -1000.0
    )  # Negative value
    assert short_value.components["Short Stocks Value"] == -5000.0  # Negative value
    assert short_value.components["Short Options Value"] == -1000.0  # Negative value

    # Verify that options value breakdown is correct
    assert options_value.option_delta_exposure == 1000.0
    assert options_value.option_beta_adjusted == 1200.0
    assert options_value.total_exposure == 1000.0
    assert options_value.total_beta_adjusted == 1200.0
    assert options_value.components["Long Options Delta Exp"] == 2000.0
    assert (
        options_value.components["Short Options Delta Exp"] == -1000.0
    )  # Negative value
    assert options_value.components["Net Options Delta Exp"] == 1000.0


def test_calculate_portfolio_metrics():
    """Test that portfolio metrics are correctly calculated from value breakdowns."""
    # Create test data
    long_value = ExposureBreakdown(
        stock_exposure=10000.0,
        stock_beta_adjusted=12000.0,
        option_delta_exposure=2000.0,
        option_beta_adjusted=2400.0,
        total_exposure=12000.0,
        total_beta_adjusted=14400.0,
        description="Long market exposure (Stocks + Options)",
        formula="Long Stocks + Long Options Delta Exp",
        components={
            "Long Stocks Exposure": 10000.0,
            "Long Options Delta Exp": 2000.0,
        },
    )

    short_value = ExposureBreakdown(
        stock_exposure=-5000.0,  # Negative value
        stock_beta_adjusted=-5000.0,  # Negative value
        option_delta_exposure=-1000.0,  # Negative value
        option_beta_adjusted=-1200.0,  # Negative value
        total_exposure=-6000.0,  # Negative value
        total_beta_adjusted=-6200.0,  # Negative value
        description="Short market exposure (Stocks + Options)",
        formula="Short Stocks + Short Options Delta Exp",
        components={
            "Short Stocks Exposure": -5000.0,  # Negative value
            "Short Options Delta Exp": -1000.0,  # Negative value
        },
    )

    # Calculate portfolio metrics
    net_market_exposure, portfolio_beta, short_percentage = calculate_portfolio_metrics(
        long_value, short_value
    )

    # Verify that metrics are correctly calculated
    assert net_market_exposure == 6000.0
    assert portfolio_beta == pytest.approx(1.37, 0.01)  # (14400 - 6200) / 6000 = 1.37
    assert short_percentage == 50.0  # (6000 / 12000) * 100 = 50.0


def test_calculate_portfolio_values():
    """Test that portfolio values are correctly calculated from position data."""
    # Create test portfolio groups
    groups = create_test_portfolio_groups()

    # Create test cash-like positions
    cash_like_positions = [
        {
            "ticker": "SPAXX",
            "quantity": 3000,
            "market_value": 3000.0,
            "beta": 0.0,
            "beta_adjusted_exposure": 0.0,
        }
    ]

    # Calculate portfolio values
    (
        stock_value,
        option_value,
        cash_like_value,
        portfolio_estimate_value,
        cash_percentage,
    ) = calculate_portfolio_values(groups, cash_like_positions, 500.0)

    # Verify that values are correctly calculated
    assert stock_value == 5000.0  # 10000 - 5000 = 5000
    assert option_value == 500.0  # 1000 - 500 = 500
    assert cash_like_value == 3000.0
    assert portfolio_estimate_value == 9000.0  # 5000 + 500 + 3000 + 500 = 9000
    assert cash_percentage == pytest.approx(33.33, 0.01)  # (3000 / 9000) * 100 = 33.33

    # Test with different pending activity value
    (
        stock_value,
        option_value,
        cash_like_value,
        portfolio_estimate_value,
        cash_percentage,
    ) = calculate_portfolio_values(groups, cash_like_positions, 1000.0)

    # Verify that pending activity is correctly included in portfolio estimate value
    assert portfolio_estimate_value == 9500.0  # 5000 + 500 + 3000 + 1000 = 9500
    assert cash_percentage == pytest.approx(31.58, 0.01)  # (3000 / 9500) * 100 = 31.58


def test_get_portfolio_component_values():
    """Test that component values are correctly extracted from a portfolio summary."""
    # Create test portfolio summary
    portfolio_summary = create_test_portfolio_summary()

    # Get component values
    values = get_portfolio_component_values(portfolio_summary)

    # Verify that values are correctly extracted
    assert values["long_stock"] == 10000.0
    assert values["short_stock"] == -5000.0  # Negative value
    assert values["long_option"] == 2000.0
    assert values["short_option"] == -1000.0  # Negative value
    assert values["cash"] == 3000.0
    assert values["pending"] == 500.0
    assert values["total"] == 15000.0


def test_calculate_component_percentages():
    """Test that percentages are correctly calculated from component values."""
    # Create test component values
    component_values = {
        "long_stock": 10000.0,
        "short_stock": -5000.0,  # Negative value
        "long_option": 2000.0,
        "short_option": -1000.0,  # Negative value
        "cash": 3000.0,
        "pending": 500.0,
        "total": 15000.0,
    }

    # Calculate percentages
    percentages = calculate_component_percentages(component_values)

    # Verify that percentages are correctly calculated and signs are preserved
    assert percentages["long_stock"] == pytest.approx(
        66.67, 0.01
    )  # (10000 / 15000) * 100 = 66.67
    assert percentages["short_stock"] == pytest.approx(
        -33.33, 0.01
    )  # (-5000 / 15000) * 100 = -33.33
    assert percentages["long_option"] == pytest.approx(
        13.33, 0.01
    )  # (2000 / 15000) * 100 = 13.33
    assert percentages["short_option"] == pytest.approx(
        -6.67, 0.01
    )  # (-1000 / 15000) * 100 = -6.67
    assert percentages["cash"] == pytest.approx(
        20.0, 0.01
    )  # (3000 / 15000) * 100 = 20.0
    assert percentages["pending"] == pytest.approx(
        3.33, 0.01
    )  # (500 / 15000) * 100 = 3.33
    assert percentages["total"] == 100.0


def test_short_values_remain_negative():
    """Test that short values remain negative throughout the process."""
    # Create test portfolio summary
    portfolio_summary = create_test_portfolio_summary()

    # Get component values
    values = get_portfolio_component_values(portfolio_summary)

    # Verify that short values are negative
    assert values["short_stock"] < 0, "Short stock value should be negative"
    assert values["short_option"] < 0, "Short option value should be negative"

    # Verify exact values
    assert values["short_stock"] == -5000.0, "Short stock value should be -5000.0"
    assert values["short_option"] == -1000.0, "Short option value should be -1000.0"

    # Calculate percentages
    percentages = calculate_component_percentages(values)

    # Verify that percentage signs match value signs
    assert (percentages["short_stock"] < 0) == (values["short_stock"] < 0), (
        "Short stock percentage sign should match value sign"
    )
    assert (percentages["short_option"] < 0) == (values["short_option"] < 0), (
        "Short option percentage sign should match value sign"
    )


def test_option_categorization_by_delta_exposure():
    """Test that options are categorized correctly based on delta exposure, not quantity.

    This test is CRITICAL for ensuring that options are categorized correctly in the portfolio summary.
    Options should be categorized as long or short based on their delta exposure, not their quantity.

    - Long Call (positive quantity) with positive delta => LONG exposure
    - Long Put (positive quantity) with negative delta => SHORT exposure
    - Short Call (negative quantity) with negative delta => SHORT exposure
    - Short Put (negative quantity) with positive delta => LONG exposure

    DO NOT modify the expected values in this test to make it pass.
    If this test fails, it indicates a real issue with the option exposure calculation.
    """
    # Create test data with various option scenarios
    groups = []

    # SPY group with various option positions
    spy_group = PortfolioGroup(
        ticker="SPY",
        stock_position=StockPosition(
            ticker="SPY",
            quantity=100,
            market_exposure=50000.0,
            beta=1.0,
            beta_adjusted_exposure=50000.0,
            market_value=50000.0,
        ),
        option_positions=[
            # Long call with positive delta (should be categorized as LONG)
            OptionPosition(
                ticker="SPY",
                position_type="option",
                quantity=1,  # Long position
                market_value=5000.0,
                beta=1.0,
                beta_adjusted_exposure=20000.0,
                strike=400.0,
                expiry="2023-12-15",
                option_type="CALL",
                delta=0.7,
                delta_exposure=28000.0,  # Positive delta exposure
                notional_value=40000.0,
                underlying_beta=1.0,
                market_exposure=28000.0,  # Same as delta_exposure
            ),
            # Long put with negative delta (should be categorized as SHORT)
            OptionPosition(
                ticker="SPY",
                position_type="option",
                quantity=1,  # Long position
                market_value=3000.0,
                beta=1.0,
                beta_adjusted_exposure=-15000.0,
                strike=400.0,
                expiry="2023-12-15",
                option_type="PUT",
                delta=-0.3,
                delta_exposure=-12000.0,  # Negative delta exposure
                notional_value=40000.0,
                underlying_beta=1.0,
                market_exposure=-12000.0,  # Same as delta_exposure
            ),
            # Short call with negative delta (should be categorized as SHORT)
            OptionPosition(
                ticker="SPY",
                position_type="option",
                quantity=-1,  # Short position
                market_value=-2000.0,
                beta=1.0,
                beta_adjusted_exposure=-16000.0,
                strike=450.0,
                expiry="2023-12-15",
                option_type="CALL",
                delta=0.4,
                delta_exposure=-16000.0,  # Negative delta exposure
                notional_value=40000.0,
                underlying_beta=1.0,
                market_exposure=-16000.0,  # Same as delta_exposure
            ),
            # Short put with positive delta (should be categorized as LONG)
            OptionPosition(
                ticker="SPY",
                position_type="option",
                quantity=-1,  # Short position
                market_value=-1000.0,
                beta=1.0,
                beta_adjusted_exposure=8000.0,
                strike=350.0,
                expiry="2023-12-15",
                option_type="PUT",
                delta=-0.2,
                delta_exposure=8000.0,  # Positive delta exposure
                notional_value=40000.0,
                underlying_beta=1.0,
                market_exposure=8000.0,  # Same as delta_exposure
            ),
        ],
        net_exposure=58000.0,
        beta=1.0,
        beta_adjusted_exposure=58000.0,
        total_delta_exposure=8000.0,
        options_delta_exposure=8000.0,
    )
    groups.append(spy_group)

    # Process option positions
    long_options, short_options = process_option_positions(groups)

    # Verify that options are categorized correctly based on delta exposure
    # Long options should include long call and short put (positive delta exposure)
    assert long_options["value"] == 4000.0  # 5000.0 - 1000.0
    # Short options should include long put and short call (negative delta exposure)
    assert short_options["value"] == 1000.0  # 3000.0 - 2000.0

    # Verify delta exposure values
    assert long_options["delta_exposure"] == 36000.0  # 28000.0 + 8000.0
    assert short_options["delta_exposure"] == -28000.0  # -12000.0 + (-16000.0)

    # Verify beta-adjusted values
    assert long_options["beta_adjusted"] == 28000.0  # 20000.0 + 8000.0
    assert short_options["beta_adjusted"] == -31000.0  # -15000.0 + (-16000.0)


def test_summary_matches_position_table():
    """Test that portfolio summary exposures match position table exposures.

    This test is CRITICAL for ensuring that the summary exposures match the position table exposures.
    The summary exposures should be calculated by iterating through all positions and categorizing them
    correctly based on their delta exposure.

    DO NOT modify the expected values in this test to make it pass.
    If this test fails, it indicates a real issue with the exposure calculation.
    """
    # Create test data with various positions
    groups = []

    # SPY group with stock and options
    spy_group = PortfolioGroup(
        ticker="SPY",
        stock_position=StockPosition(
            ticker="SPY",
            quantity=100,
            market_exposure=50000.0,
            beta=1.0,
            beta_adjusted_exposure=50000.0,
            market_value=50000.0,
        ),
        option_positions=[
            # Long put with negative delta (should be categorized as SHORT)
            OptionPosition(
                ticker="SPY",
                position_type="option",
                quantity=1,  # Long position
                market_value=5000.0,
                beta=1.0,
                beta_adjusted_exposure=-15000.0,
                strike=400.0,
                expiry="2023-12-15",
                option_type="PUT",
                delta=-0.3,
                delta_exposure=-12000.0,  # Negative delta exposure
                notional_value=40000.0,
                underlying_beta=1.0,
                market_exposure=-12000.0,  # Same as delta_exposure
            ),
            # Short call with negative delta (should be categorized as SHORT)
            OptionPosition(
                ticker="SPY",
                position_type="option",
                quantity=-1,  # Short position
                market_value=-2000.0,
                beta=1.0,
                beta_adjusted_exposure=-16000.0,
                strike=450.0,
                expiry="2023-12-15",
                option_type="CALL",
                delta=0.4,
                delta_exposure=-16000.0,  # Negative delta exposure
                notional_value=40000.0,
                underlying_beta=1.0,
                market_exposure=-16000.0,  # Same as delta_exposure
            ),
        ],
        net_exposure=22000.0,  # 50000 - 12000 - 16000
        beta=1.0,
        beta_adjusted_exposure=19000.0,  # 50000 - 15000 - 16000
        total_delta_exposure=-28000.0,  # -12000 - 16000
        options_delta_exposure=-28000.0,  # -12000 - 16000
    )
    groups.append(spy_group)

    # AAPL group with stock only
    aapl_group = PortfolioGroup(
        ticker="AAPL",
        stock_position=StockPosition(
            ticker="AAPL",
            quantity=200,
            market_exposure=40000.0,
            beta=1.2,
            beta_adjusted_exposure=48000.0,
            market_value=40000.0,
        ),
        option_positions=[],
        net_exposure=40000.0,
        beta=1.2,
        beta_adjusted_exposure=48000.0,
        total_delta_exposure=0.0,
        options_delta_exposure=0.0,
    )
    groups.append(aapl_group)

    # TSLA group with short stock
    tsla_group = PortfolioGroup(
        ticker="TSLA",
        stock_position=StockPosition(
            ticker="TSLA",
            quantity=-50,
            market_exposure=-15000.0,
            beta=1.5,
            beta_adjusted_exposure=-22500.0,
            market_value=-15000.0,
        ),
        option_positions=[],
        net_exposure=-15000.0,
        beta=1.5,
        beta_adjusted_exposure=-22500.0,
        total_delta_exposure=0.0,
        options_delta_exposure=0.0,
    )
    groups.append(tsla_group)

    # Calculate portfolio summary
    summary = calculate_portfolio_summary(groups, [], 0.0)

    # Calculate total exposures from position details
    total_long_exposure = 0.0
    total_short_exposure = 0.0

    for group in groups:
        # Process stock positions
        if group.stock_position:
            exposure = group.stock_position.market_exposure
            if exposure > 0:
                total_long_exposure += exposure
            else:
                total_short_exposure += exposure

        # Process option positions
        for opt in group.option_positions:
            exposure = opt.delta_exposure
            if exposure > 0:
                total_long_exposure += exposure
            else:
                total_short_exposure += exposure

    # Verify that summary exposures match position table exposures
    assert summary.long_exposure.total_exposure == total_long_exposure
    assert summary.short_exposure.total_exposure == total_short_exposure
    assert summary.net_market_exposure == total_long_exposure + total_short_exposure

    # Verify the specific values
    assert summary.long_exposure.total_exposure == 90000.0  # 50000 + 40000
    assert (
        summary.short_exposure.total_exposure == -43000.0
    )  # -15000 + (-12000) + (-16000)
    assert summary.net_market_exposure == 47000.0  # 90000 + (-43000)

    # Verify that the components are correct
    assert (
        summary.long_exposure.components["Long Stocks Exposure"] == 90000.0
    )  # 50000 + 40000
    assert summary.long_exposure.components.get("Long Options Delta Exp", 0.0) == 0.0
    assert summary.short_exposure.components["Short Stocks Exposure"] == -15000.0
    assert (
        summary.short_exposure.components["Short Options Delta Exp"] == -28000.0
    )  # -12000 + (-16000)

    # Verify that the options exposure is correct
    assert summary.options_exposure.total_exposure == -28000.0  # -12000 + (-16000)
    assert summary.options_exposure.components.get("Long Options Delta Exp", 0.0) == 0.0
    assert summary.options_exposure.components["Short Options Delta Exp"] == -28000.0
    assert summary.options_exposure.components["Net Options Delta Exp"] == -28000.0


def test_large_negative_option_exposure():
    """Test portfolio summary with large negative option exposure.

    This test is CRITICAL for ensuring that large negative option exposures are handled correctly.
    A portfolio with a large negative option exposure should have a negative net market exposure.

    DO NOT modify the expected values in this test to make it pass.
    If this test fails, it indicates a real issue with the exposure calculation.
    """
    # Create test data with a large negative option exposure
    groups = []

    # SPY group with a large negative option exposure
    spy_group = PortfolioGroup(
        ticker="SPY",
        stock_position=StockPosition(
            ticker="SPY",
            quantity=100,
            market_exposure=50000.0,
            beta=1.0,
            beta_adjusted_exposure=50000.0,
            market_value=50000.0,
        ),
        option_positions=[
            # Long put with large negative delta (should be categorized as SHORT)
            OptionPosition(
                ticker="SPY",
                position_type="option",
                quantity=10,  # Long position
                market_value=50000.0,
                beta=1.0,
                beta_adjusted_exposure=-1200000.0,
                strike=500.0,
                expiry="2023-12-15",
                option_type="PUT",
                delta=-0.4,
                delta_exposure=-1000000.0,  # Large negative delta exposure
                notional_value=2500000.0,
                underlying_beta=1.0,
                market_exposure=-1000000.0,  # Same as delta_exposure
            ),
        ],
        net_exposure=-950000.0,  # 50000 + (-1000000)
        beta=1.0,
        beta_adjusted_exposure=-1150000.0,  # 50000 + (-1200000)
        total_delta_exposure=-1000000.0,
        options_delta_exposure=-1000000.0,
    )
    groups.append(spy_group)

    # Calculate portfolio summary
    summary = calculate_portfolio_summary(groups, [], 0.0)

    # Verify that the summary correctly calculates exposures
    assert summary.long_exposure.total_exposure == 50000.0  # Stock only
    assert summary.short_exposure.total_exposure == -1000000.0  # Option only
    assert summary.net_market_exposure == -950000.0  # 50000 + (-1000000)

    # Verify that the components are correct
    assert summary.long_exposure.components["Long Stocks Exposure"] == 50000.0
    assert summary.long_exposure.components.get("Long Options Delta Exp", 0.0) == 0.0
    assert summary.short_exposure.components["Short Options Delta Exp"] == -1000000.0

    # Verify that the options exposure is correct
    assert summary.options_exposure.total_exposure == -1000000.0
    assert summary.options_exposure.components.get("Long Options Delta Exp", 0.0) == 0.0
    assert summary.options_exposure.components["Short Options Delta Exp"] == -1000000.0
    assert summary.options_exposure.components["Net Options Delta Exp"] == -1000000.0