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Do you know how expensive houses are in Bermuda?!?!

Bloomberg news is often out of touch with the common man.

I think trump once tweeted that if you take the fifth, it means you are guilty.

Some funds blew up on the CHFEUR spread if I recall.

Non orderly liquidations is the absolute worst thing that can happen to you. In this case OS had to stop the hemorrhaging and closed the calls (buying lots of delta making the puts more OTM). Then when that is over the market sells off and the puts are less OTM and they need to be closed off...

When I interviewed with Element (many years ago), they were looking to get long the SPX but to do it via risk reversals to monetize the skew.

Relative to ATM vol (which is what you kind of expect the underlying to realize). In US equities, the market does not price the upside higher than the ATM (with some few exceptions which are where the market projects higher realized vol if the spot gets to that level (like a takeover event or...

I said that skew exists because of the path dependency of the vol payout. The market expects higher realized vol at lower spot levels and lower realized vol st higher spot levels. Put gamma is maximized at lower spot levels and so the puts benefit more from the higher realized vol (at the lower...

In plain English, the skew represents the expectation of realized vol along the path dependency of the option. In equities You expect more realized vol on the downside where you will have more gamma on the puts (being closer to the money in thar case) vs the calls in this stock path. The higher...

Probably to go with whatever ISS recommends.

Stop being so smug. It's unbecoming of you given you are trying to start a hedgefund on like $500. Volatility is directional too (just in a different space). All options are a zero sum game. What makes it not a zero-sum game is the trading of the underlying to create a synthetic option. This...

No. It wasn’t. She pushed her losses out. In the end all tail sellers blow up because gap events are fundamentally unhedgable. That’s why options exist. If markets didn’t gap, you could easily synthetically create options. The only way to not blow out is to accept small returns or to have a...

She didn’t make money. She lost money but only marked realized gains so she could collect fees while unrealized losses continued to accumulate.

A woman is raped, and you believe an innocent human should be killed because of it!

42. Are we playing reverse jeopardy?

You run other people’s money until you become capital constrained and you have enough internally to fill that capital constraint.

We don’t know what the question is.

I think the conservative movement is going through an identity crisis. As wealthhas been generated through the new economy of ideas, it’s shifted (first with the religious right and now with trump) to focus on the uneducated: those who can’t prosper in the new economy. THere is still vestiges...

So you backtracked on your “facts” and still can’t publish any evidence. Did you learn this tactic from watching trump on Fox News? More “facts” about male dominated industries. Virtually every industry is male dominated except for school teachers and nurses.

You want to show studies that show that 100percent of pilots are conservatives? And flight attendants as well. Was this just a fake statistic you pulled. Is that how you were taught to debate in your GED class? The tech industry is liberal. Institutional finance is skewing liberal. Journalism...