generally with a counter party like a bank’s flow desk. Their orders are typically pre-arranged and come to the floor with a buye and seller already determined.
I’ve gotten a lot out of ET in the last 10 years:
I’ve met some new friends.
I have learned about other asset classes and strategies.
It was eye opening how large the online community of professional traders is and how few and how many of them make a proper living at it.
I got a early...
it’s hard to hold a position (especially a short vol one) when it’s moving against you and every further move against you causes exponentially more pain.
i doubt real money borrowing will materially change if rates go up 1%. What will change is the allocation of stocks to bonds and the stock market will fall pretty hard.
that was my conclusion. Hedging spx against a portfolio of single stocks costed me a ton in rallies and when the sell-offs happend the hedge only performed relative to the book about 50percent of the time.