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I posted this on another thread and thought it had relevance here. Kyle Bass gives some great insights on Japan and the Yen trade. Boys, you better get caught up on your currency strategies...

Love Taleb's books. All of them. OK, just read the Kyle Bass interview from the link above. Dude, if you love options, interest rates, spreading, etc you'll get a hard on reading that interview.

"Dynamic Hedging"?

His last book "Invisible Hands" was priceless. Fascinating book. If you love economics, risk and the big picture, that book was a bible. Definitely gave me trading ideas and different ways to look at existing ideas. Two thumbs up for "Invisible Hands". Hopefully this new book will match it.

Endorse the book or the interview? Or ET in general? LOL.

Good article. This is what a lot of people don't understand. Whenever you make comparisons in data you want to avoid two floating variables, in this case price and volatility. You want to make one a constant and analyze the second one. So a true comparison would evaluate implied vols at...

Drobny's third book is on the way. The first two were outstanding. He is releasing his first interview from the book with Kyle Bass for free. Enjoy! http://www.drobnycapital.com/books

If you don't normalize for price the reading is absolutely worthless. Garbage in/garbage out.

My complaint is not that it's an indicator, it's the nature of ranking vol. There is some math here one needs to understand to completely comprehend cheap and expensive vol. Simply ranking vol as a percentile doesn't work. That was my beef. Vol has to be normalized as do ALL things when...

That's true.

That is a TERRIBLE way to look at implied vol. You know, Sosnoff is a smart guy and filthy rich now, I find it hard to believe he sells that indicator in the fashion he presented it.

That a boy Partha! Yup, at my monthly A up right now.

That's probably what he meant by zero risk.

He has several aliases on ET. He already got outed for using a sim to post screen shots of his trades. He is just trying to annoy people like he does with his other 5 aliases.

Got oil?

On a side note, when I look at the relative volume of my stocks today, there is almost no trading going on in equities. It's all index buying. This market is very distorted right now.

Well, I've had a confirmed negative number line for a while so my guess is down!

Yeah the slow bleed is much worse. Or at least feels that way.

Pendulum! :)

Yeah if you have good core positions this is like free money. I overestimated vol though so my fishing line came up empty. Remember the pendulum I was talking about.