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35-year back data and we archive off-site. Again, it's empirical not academic. I also didn't insult you - I said it was fun watching you guys snipe at each other. You want a disparaging comment. Monohan said all the index ETFs were 100,000 up back then on the ISE and you guys quit anyway.

Might be worth researching more, but there are bunches of papers both favorable and unfavorable to the idea.

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Cross-margining changed the entire model. Wasn't recognized at 87.

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"Available on kindle." Two great CBOE stories. The unnamed MM - who has since passed - reversed a sell/by in OEX long-dated puts the Friday prior. The mistake was the GNP of a small country in his favor. His MercClerk read the hand signal wrong. They got the report too late. So he came in...

Worked doubled session. It wasn't academic research - it was empirical. A lot more fun watching you two snipe at each other. I'll dig it out when time allows. Shelly lives a few blocks South. I'll get you some empirical of that as well.

The real risk is it becomes too toxic and folks who come not to hurl insults simply leave. We have over time lost some great talent here.

Go get a copy of "Master Traders" still available on Amazon. Read the chapter on Volatility - written by my old boss. A somewhat simple answer rolled into a question. What is implied?? 1. The number that fits 2. A discounted forecast 3. Rarely a good forecast of the future. 4. The marketplace...

Ron is still a contributor to CNBC and a couple of other financial shows. He had the good fortune to be at the CBOE on 10/19th. So an insider perspective for the market break. Worth buying? Sure, but I'm partial. Spent the better part of that week with him.

If you ever read Ron Insana's book he has some great stories about 87. He was in the CBOE classroom and when classes were canceled, he just roamed the floor for the week. "Trader's Tales." It may be hard to find.

Try again. Think parity. Ironically, J P M pre-Bear Sterns ran the benchmarks. 87 was pre-Glass Steagall. So limited Institutional participation. The world evolved around the OEX. The funny part of this - the OCC was unable to risk calculate for options priced over $99. Their systems...

"That didn't say anything about performance. Do I have to google him myself? I am on vacation!" Not sure Harvard ever separated out his performance. My old boss called on him and I watched his presentations at CBOE Risk Management conferences. Generally triple-digit and consistent year on...

Just a snippet from Google. Jacobson was the Co-Founder, Chief Investment Officer and Chief Executive Officer of Highfields Capital Management from 1998 until 2021, when it returned all remaining capital to investors. Prior to founding Highfields, he was a senior portfolio manager at Harvard...

Jon Jacobson at Harvard. Retired now, but lots of stuff on the net.

"Making good money" - that's great. Former MMs at CBOE would come upstairs and complain that they made $ 5 million for the team and still get fired. They couldn't understand why. You would see the lead MM and ask them if the story was true and it almost always was. Ask them why they fired...

You asked right? When you sell an option you are effectively selling volatility. What will kill you is realized volatility that exceeds the implied level you sold. Just avoid those events and you're fine. When you figure out how to do it - don't share it because it's a billion-dollar idea...

"What’s wrong with this approach?" Your forecast is correct and it trades up to your goal and the puts go off worthless and you earn the premium, but underperform and miss the move you accurately forecast.

Hit the link and also get on their distribution list. You already have much of the required understanding. There is value in knowledge!

Daily Email Feature Cboe Digital Aims to Launch Margin-Based Crypto Futures Cboe Digital has applied for regulatory approval to launch margin-based futures on crypto assets, which it is hoping to introduce in 2023. In May 2022 Cboe Global Markets completed its purchase of Eris Digital...