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Yes, a put or a call option that expires into a futures contract if it’s in the money. It says so in the article. You failed the test.

Judging by how he's acting about this video, it's imaginable but rather depraved :)

You are one of the people who should not be allowed into a library unattended:|

Ah, that. It’s a play for implied volatility reset, so longer-dated options are better for it (your pnl is proportional to the gross vega of the four legs). The real question is what ratios and strikes, though

It's a problem that is general to social sciences - hard to get large samples, so experiments are very difficult to reproduce. Many of their hypotheses have been confirmed independently via different experimental design. Relevant to us, there were studies involving market participants...

Backtesting for things like take-profit and stop-loss is very tricky and prone to overfitting. There are ways to overcome that (e.g. backtesting on simulated data with characteristics similar to the real world), but generally it will not hold OOS.

Read the book. It will change your approach to decision making, trading included.

I am not sure what the trade you’re proposing so it’s hard to suggest a structure :)

Quant trading is definitely a team sport, the times when you can be a standalone guy at an institutional level is mostly over. That’s why if you look at the pod sizes at various multi-managers it’s not uncommon to see teams of 10-20, with people specializing in narrow portions of the process.

They don't grok it as a concept. Some of us pointed it out and were pointedly ignored...

Yup. Definitely the most signal among the noise. Very practical. The Kama Sutra for option trading.

It’s amazing that despite options being a big thing, there still is no book that’s comparable to Bennet.

FWIW, we were using an off-the-shelf vendor and were getting 10s of mikes tick to trade. And that kinda slow these days

It definitely is me, LOL. I just got dumber over the years :)

No, it's literally factual truth. There are plenty of people here who know his real identity, just like they know mine. I don't think it matters in a conversation unless your opponent pretends to be "the elite". Like you do.

My nickname always abbreviates to the same 3 letters :)

Because I usually open a new account every few years. Less bagage this way

I am a man of many names :)

Someone got in touch with me about a post from 2011, he wanted to understand the details of what I did on a specific trade. Made me feel special :) (in a short-bus kind of way, but still special)

In fairness, it's more that this venue is not great for anything but alleviating boredom (that's why I am here).An open forum is not very well suited for intelligent discourse, all that has moved to invitation-only non-anonymous chat-style spaces. It happened with @destriero and the group (now...