$29.08 TWTR 191115P36.5 / P38.5 -$2.01 -$33.00
Out of Twatter; paid $1 more than max loss to get out early. Not bad for something that dropped ~25%!
Low IV used to drive me nuts; now, it just drives me to studying. In fact, there's something quite cozy about snuggling up with Sinclair's "Pricing and Volatility Strategies and Techniques" while having a trade in CL running in the background. I have my screen set up so the chart just peeks around the right edge of the PDF, so glancing at the latest snail track takes no effort at all. (Ah, "order filled" - so nice to hear!)
What makes it such a pleasure is that I'm actually getting it, this time around. Back at the beginning of this process - around May or so - I dove into Natenberg and Hull (in addition to the intro stuff at OptionAlpha and Tastyworks)... ran out of air and came up gasping. The material was just too alien, too disconnected from anything I knew, for me to swallow in one gulp. Fortunately, there were enough basic concepts that stuck, and I could at least trade - which was one hell of a learning experience all its own.
At this point, though, the theoretical bits have started to connect with practice - and that's a joy. I've still got a long, long way to go, but this is a milestone I've been waiting for.
This may be a subtle distinction to anyone not living inside my head, but: I like money as much as the next guy, but that's not what excites me here, nor is it what I'm so laser-focused on chasing. Competence in this field is. And while there are all sorts of fierce dragons protecting every penny of the treasure hoard, there's not too many of them in the way when it comes to acquiring the necessary knowledge...
In war, the way is to avoid what is strong, and strike at what is weak.
-- Sun Tzu