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I’m surprised that Utah is higher than Mass.

Everyone knew she was lying but what else was she supposed to do? Tell everyone publicly Lehman was going bankrupt and create a panick and possibly a self fulfilling prophecy like bear stearns? If she didn’t go on TV that would be a problem too. She was screwed no matter what.

i would do some kind of trade that's similar but only if the vol levels showed an edge. At 40 vols, i'm not sure it does (13% selloff in 30 days, vs 40 vol (which is approx 10% implied move). if i was given a position like this, i would close it and move on. There's no cop-out in closing a...

I thought at first maybe you took that from one of my earlier posts, but then I realized that I don’t backtest. :)

I would ask “why were you trying to buy 25 day puts then? Are you allergic to money?” :)

you went from a trade where your primary desired risk was direction to a trade where your primary risk is forward volatility.

you went from a view that the stock will drop (wanting to buy a put) to the stock will be rangebound and the vol will stay firm in the back.

that’s an easy trap to fall into. but it’s not a free lottery ticket. Your risk is reduced but your trade is different than your initial desire and your mistake.

why didn't you close the mistake instead?

he’s been crushing it on this strategy to the point that he’s been asking about the tax consequences and how he can deduct his closet as a home office.

lots of words to flow through the ether between @thecoder ears.

my old boss probably had a 100mm when he was forced into retirement. He didn’t have the cache to get a prestige second career so he sits in his Greenwich house punting futures.

Your goal should be to get a front office job at the best quality firm you can : Goldman is at the top, certain hedge funds, jomorgan, Barclays, MS, etc Go independent after 1. You have amassed so much wealth that failing as an independent won’t affect your quality of life, 2. You have...

And the Russians keep lending him money because it’s a way to launder it out of their country.

that’s a lot of words. I assume this is cutting edge options math.

no drawdowns. But the world isn’t ready for my massive math prowness.

my model which is better than black scholes allows One to buy insurance for free.

wow. A conservative advocating for government intervention.

that’s not how options work.

I don’t get how that call is so cheap. If you got borrow it was a crazy arbitrage, which is not likely to be the case. So something doesn’t make sense.