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Could also be something reported late (e.g. an option delta cross) and many other things, no? PS. 58k x $30 = 1.7 millions, so is too small to be a proper block, I'd recon, but that depends on the stock

I am not a doctor nor do I play one on TV :D This all said, some of the ideas from MMT like unification of church and state, sorry, I mean of the central bank and the treasury makes a lot of sense. Some of the countries already have gone down that road cause it removes a lot of futzing around...

I think the argument is that everyone has to decide which are his primary risk factors and level of edge relative to these risk factors. Once you have that idea, then you can hedge out stuff that had much higher contribution while lower contributing risk factors such as divs etc can be left...

You do realize that these two statements (low volatility and best returning asset) are contradictory to each other? PS. While I am net bullish on crypto, crypto-heads underestimate how efficient the modern institutional financial systems are - the argument that the modern financial systems like...

Nobody is saying that it can be replicated using a static vanilla position. However, it can be represented via mostly vanilla risk factors (you buy that much Vega from the client, that much gamma, that much volga etc) and managed as such. All of these things (maybe with exception of purely...

That, obviously, is not true. Structured notes are not magical, they are simply transforming the cost of risk already represented in the listed/vanilla markets. I am simply trying to understand where your alpha comes from. Are you trading volatility relative value based on the consensus...

Issuer, of course. Natixis and SG most recently, if I recall correctly - it's all on longer-dated W/O index autocallable notes/swaps.

At any rate of inflation a currency will asymptotically tend to zero. It's is so by design. In fact, that's what makes it a perfect medium of exchange in the modern economy. When it's a known fact that a unit of exchanges loses value with time, people are going to put it to work. If you can...

To be fair, it's not likely that we will see this type of inflation numbers again either, but if we do it could be disastrous since "credit" quality of the US debt and the Fed credibility are totally linked by now. Rant: It always amazes me how the supposedly fiscally-responsible parties are...

Yes, though there will be situations where it over or undershoots, requiring policy decisions. Plus, there are other little practical issues, like the (a) assumption of unconditional acceptance of currency/debt by your trade partners, no matter what the deficit is, (b) complete lack of tax...

Sorry, you are confusing me. Are you simply reproducing an autocallable payoff? In that case, what is the advantage of giving you capital vs buying a note from SocGen or something like that? Or you are leveraging on the volatility flows that result from large autocallable positions, especially...

No, not exactly. The client is short a put (usually with a knock-in barrier and frequently in a multi-asset form like a worst-of) and the note terminates if an upside trigger is touched. So it's hard to replicate using vanilla options and it requires some fancy modeling. FWIW, multiple exotics...

Nobody is suggesting to lie down and cry if you draw the short straw. However, one should be away that short straws exist and that many people that we objectify as samples of success did not draw them. PS. You sure write a lot :P

This said, I think MMT in the form that it is being brought up (primarily by the extreme left) is not helpful in the policy debate. It just unrealistic that government policy should be concerned about inflation and that the monetary authority should be financing government spending (and the...

Not really. Eurodollar futures and fed fund rates are your best bets if you are looking to hedge short-term funding.

Luck, access to leverage and time.

While I'd not rule it out, they don't need it really. They make lot's and lot's of money by exploiting political connections, access to policy information and lobbyist hookups.

I think a lot of post here are framing the argument incorrectly. Most people are thinking in binary terms, either you are a janitor or a full time BSD. Instead, for a non-professional it's worth thinking of trading/investing as a hobby (some people climb mountains, some trade stocks). In that...

This is not to say that there is issues with how HFTs integrate into the modern markets. IMHO, these problems are largely due to incentives/structure dictated by the exchanges and regulators.