smalldik cannot read. The firm had redemptions; no massive losses. The money left with de Lardemelle and the dude couldn't live with the shame that most of their investors were there for the partner's expertise.
Long shares at 95; long put at 90; short call at 100.
Long shares + 90 put = long synthetic 90 call.
Long synthetic 90C & short natural 100C = long synthetic 90/100 call spread.
Or do your thing across classes and add'l comms which is pointless.
Fernando is Brazilian and asked me to edit the chapter but I had a lot of stuff going on at the time and didn't get around to doing so. There were quite a few translation errors ("logarithm"), but I answered what was asked.
It's just to denote the terminal risk on the asym within either wing. IOW, there is naked risk and the debit (if at a debit) doesn't give you wing risk (with the 153). 253 is the other ratio typically used.
You've gotta be a bot. Most inane posts since expiated. WTF do you trade? NQ is $20.
Rarely, as previously stated. Also pit SPs were $500 prior to the ES launch. CME halved the Big to trade 5X the coming Mini.
The GME fraud states he exercised as it's convenient (won't hit the tape) even though he gave up the vol. No way the dude has 10K shares let alone 200K.