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My favorite parable about Wall Street. If you plan on quitting after making 5mm, You will never make 5mm.

And I learned that if you elect trader status in Massachusetts you will declare your trading income as ordinary income and there’s no carry forward for that but there is for capital gains.

you’ve put on a 1000 skew positions in 100 or so trading days? who is the “we” in the first few sentences?

@piezoe Why did you like this post. You have made the argument that those small businesses aren’t viable if they can’t compete with free government money for employees.

Pay them to work. Pay them to not work. Either way A lot of us are going to pay in the end.

i haven't read your posts, but trading skew in insolation is incredibly tricky. you have to trade a lot of gross vega to make a little bit of money and as a result you have to be precise about risk factors that are not easy to observe. kelly criteria won't solve for these fundamental complexities

no need to speak to a CPA. For federal purposes your losses carry forward and offset gains until they are extinguished. your income in 2021 will be 80k. for state purposes, it varies from state to state. there are some nuances to short term losses vs long term gains, but your tax software will...

You walk up to someone and say “if you don’t become my slave I’ll shoot you” Are you this obtuse or are you trying to justify racism?

4. democracy 5. existentialism 6. the blowjob

Ah. That makes sense. One day this will bite you in the ass. Hopefully it won’t blow you out or you will be able to get out early. congrats on your performance however. Its equally important to manage your risk as it is to not be a pussy when the opportunity is strong and last four quarters...

What is the notional you are selling relative to your account? notional = Strike*quantity*100

even then if the same small number of shares trade actively you can have ample liquidity to trade intraday. if there are a large number of shares and they don't trade actively it is difficult to trade intraday.

High float doesn’t matter if it’s controlled by 1 guy who doesn’t want to sell his shares.

Its likely the coin that will win hasn’t even been developed yet.

even float doesn’t matter. Only volume that you can access.

or we can ignore an invasion of one of our most sacred government buildings in the name of whataboutism.

how does the cash rich balance sheet fit into this? typically cash (that's not encumbered by a liability) is a pretty small %age of the equity value.

i don't understand this. you sell puts against balance sheets that have a lot of cash? Like insurance companies and aapl? are you levered (in that you can't take a full assignment)?

you can’t really control what they do with the money. They will forge their own path. Hopefully it will lead to substantial amounts of riches. and either way, it’s not your burden to bear. Enjoy your retirement. You’ve earned it.

check into your local debtor’s prison.