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RIP Neil.

$15K IIRC. IWC raised prices which bailed me out of deal. I sold a Patek complication to a large CTA in WI. I can't recall the name, but >1B in AUM at the time.

I trade a lot of vol and the analogs are for a muted reaction into week-ending earnings, but anything can happen.

MsDawn's claim to fame is winning the Dunning Kruger award.

You need 3-4% for the put to go ITM and the co had a solid beat and closed on the high. I would think the SPX would have to drop 3% to touch 111 and we have tech reporting later in the week (AAPL, GOOGL, AMZN). Reaction to Fed should be 1-1.5%. Any reaction >2% on Fed should be faded.

Your quote has (mine) and MsDawn's text commingled. Our DNA cannot touch... Anyway, I have only read Hull in the space but I hear good things about Natenberg; also Baird's Option Market Making.

@newwurldmn and I are friends. Long stock x long puts x short calls: You are long the diagonalized synthetic call spread. In reality the 111s are going to go off worthless and you'll end up with the March CC.

OML. Every time MsDawn mentions me I achieve another Boss level-up in Mafia City!

Right, I get it. Both of us are arguing a simple concept, but they stated the same thing about gold. The historical analog is not good for BTC. "Steady, lads!" BTC dropped 500 on the Genesis news but has obviously recouped bc Genesis was always joke size and Tether didn't crack.

I'll add that there is only one gold. I would imagine that the vast majority of funds would flow into BTC cash or fiat as obv people are holding stables as a crypto checking account.

They said that about Gold in the GR. It fell as source of funds into fiat for margin calls.

So WTF are you implying?

BTC will trade under $10K when the Tether scam sees the light. Prolly nothing. ;)

MsDawn: options are probabilities. Cocaine is a drug -> aspirin is a drug -> therefore cocaine is aspirin.

lol now MsDawn has edited this garbage to read, “capped claims.” MsDawn, in what other ways can you synthesize a long call?

“Capped compensation” insurance policies? WTF is that analogy? Are you OK?

There is so much wrong with this that I don’t know where to begin. Straddles need not be initially delta neutral, directionless. An example is a directional bet in skew (SDSV) which is a crowded trade. Buying a straddle is a combo; long call, long put. It does not involve “buying a call and...

I got an email that hewas dead. Good to hear.

lol has nothing to do with the bourgeois boat. I used to collect/trade high-end watches. My first big flip was an IWC il Destriero Scafusia that I bought in HK and sold a year later to a Saudi royal.

You're long a synthetic 110C. Don't listen to people that don't understand proper nomenclature. Using synthetics is best practice. There are traders out there that will short the inside strangle (110C, 120P) over the outside (110P, 120C) because they believe the added credit is an edge. The...