Recent content by cfcp1

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    Dennis Chen / Mark Sebastian "The Option Trader's Hedge Fund"

    So in your example of 2/20, breakeven at best.
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    Dennis Chen / Mark Sebastian "The Option Trader's Hedge Fund"

    Very helpful. Thank you.
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    Dennis Chen / Mark Sebastian "The Option Trader's Hedge Fund"

    Here's the section from the book, quoted verbatim (I only omitted a couple of examples). So what exactly is a unit in this context? Units Can Save Your Portfolio The following is an example of how to protect your portfolio against a black swan event. Look back to the flash crash of May 2010. A...
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    Dennis Chen / Mark Sebastian "The Option Trader's Hedge Fund"

    Dennis Chen (in a book he co-authored with Mark Sebastian) used language referring to inexpensive OTM options with unpredictable greeks as "units". The author claims this is language used by MM but after checking with one that has been on the floor of the CBOE, he's never heard of that concept...
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