The Beauty of Options - Portfolio Insurance at a Discount

Sweet Bobby said:
$100,000 paper money account on Thinkorswim platform. No additional resets or added contributions allowed.
120 Day Contest
Winner is the one with the highest net liq after 120 days
Loser pays the winner the excess above $100k that the winner has in his account

So, if I have $149k in my account, and you have $73k in your account (or less), you pay me $49k.

Peace!
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lol sim-trading contest? You've already run away from a contest paying your 10x your risk and you want me to enter into a sim-trading contest?

Dude, you don't trade. No. I will only wager on production account performance. No sim-phaggery.
 
ironchef said:
Sorry if I put words in his mouth:

I figured since the market did crash, he hit the jackpot so made enough to send his kids through college. :D

My bad. I should stay on topic and try to figure out the best strategy for hedging a naked put in case of a black swan.
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Iron, this is THE place to learn such a strategy. I have developed the strategy, and it has been tested, and it works great. Don't listen to the noise. Poopy won't share his trade "secrets" because he doesn't have any. Follow my lead, and you will do great.
 
Sweet Bobby said:
Poopy, you are still an idiot. You can't even calculate the profit on my trades correctly. I had zero theta decay in the portfolio this week. You said I made $1,500 on the condor. Not at all. My net profit was under $400.

Listen, I get it. You trade your family money. Good for you. I'm sure they forgive you for losing a lot of their money. Maybe you will still have some left over to inherit. I doubt you've ever contributed anything towards your own net worth.

It's still clear that you have no concept of theta. It's not coming out of my account man! Wanna wager as to how much theta loss I have during the upcoming week? My current theta is -289.15!!!!!!! There will be NO theta decay in the coming week!
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YOU HAD DECAY. THE LOSS TO THETA WAS MASKED BY YOUR GAINS TO VOL ON YOUR 5/1 CONDOR. JUST BC YOU DIDN'T LOSE DOESN'T MEAN YOU AVOIDED LOSS TO THETA.

YOUR OTM STUFF OUT TO DEC HAS LITTLE DECAY AND BENEFITTED FROM SKEW--HENCE MY REFERENCE TO "LOCAL" GREEKS.
 
destriero said:
Dear Moron,

YOU posted your gamma loan of -350. That's it. You stated the gains were from "nonlinearity of theta" which is manifestly-retarded. Your var to theta is less than $100 locally.

Look back to your closing theta value on Wednesday... ask yourself how your -theta resulted in a $1500 gain directly attributable to your 5/1 condor. *IT DID NOT* Your variance to theta could not account for it if you had been holding 100 lots. Your variance to theta was less than $100 on your portfolio over the stat-vol seen from Wed to Thursday.

You earned on the 5/1 condor due to delta pos and the vol-drop related to the Jobs report.

You're are literally too stupid to debate. Theta, lol. Dunning Kruger exists solely to explain your stupidity.

=========================

BTW, I am up $9MM organically over the last three years... starting with $5MM. Account number shown.

https://www.elitetrader.com/et/threads/dests-everything-journal.332136/page-11#post-4859112

https://www.elitetrader.com/et/threads/dests-everything-journal.332136/page-13#post-4861667
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Listen, ass wipe. You cannot read. I NEVER said anything about gamma. I never said that I made money from the non-linearity of theta. You sure know how to take things out of context. You really are a clueless bastard. I will stick to you like the bark of a tree, and calamity will befall you!
 
Sweet Bobby said:
Listen, ass wipe. You cannot read. I NEVER said anything about gamma. I never said that I made money from the non-linearity of theta. You sure know how to take things out of context. You really are a clueless bastard. I will stick to you like the bark of a tree, and calamity will befall you!
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Theta is the cost of gamma. You're fucking retarded. FULL STOP. You ABSOLUTELY attributed it to "NONLINEARITY OF THETA." (sic)
 
Can anyone post a reference to ONE single contribution made by Poopy to this forum? I read through some of his stuff, but he just brags about profits, but never reveals his trades. One has to ask, why do you hide your trades? I have freely shown mine, but no one is satisfied.

Perfectly fine. I know I've got an awesome strategy here for the black swan portfolio. I have tried to share freely, but this is the most negative forum in history. I've made a mark, but Poopy has left a stain. Done!

If anyone wants to follow my trading and spreadsheets, just send me a private message and I'll respond so that you can follow all of my trades and success. Peace and out!
 
Sweet Bobby said:
Can anyone post a reference to ONE single contribution made by Poopy to this forum? I read through some of his stuff, but he just brags about profits, but never reveals his trades. One has to ask, why do you hide your trades? I have freely shown mine, but no one is satisfied.

Perfectly fine. I know I've got an awesome strategy here for the black swan portfolio. I have tried to share freely, but this is the most negative forum in history. I've made a mark, but Poopy has left a stain. Done!

If anyone wants to follow my trading and spreadsheets, just send me a private message and I'll respond so that you can follow all of my trades and success. Peace and out!
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He has a journal, it's in the Journal Section of ET, he linked it in the previous post
 
Hide my trades? I "hide" the vast majority of my trades. I will never again post my trades. You have to be stupid to reveal your edge. I've been careful through the years to keep the edge quiet unless it no longer mattered. As in the Oanda and Trinitas cases... or when people ask me to structure something on a ticker. Oanda had already shut down.

Booby doesn't care what he posts bc his edge is negative. Booby won't wager bc he's petrified and adds conditions that I post all of my trades so that he can excuse himself. Nothing is added to the PNL by showing my trades. It allows him an out.

Don't publish your edge. It's why the vast, vast majority of book related to trading are utter garbage, not unlike this thread.
 
Sweet Bobby said:
Poopy, you are still an idiot. You can't even calculate the profit on my trades correctly. I had zero theta decay in the portfolio this week. You said I made $1,500 on the condor. Not at all. My net profit was under $400.

Listen, I get it. You trade your family money. Good for you. I'm sure they forgive you for losing a lot of their money. Maybe you will still have some left over to inherit. I doubt you've ever contributed anything towards your own net worth.

It's still clear that you have no concept of theta. It's not coming out of my account man! Wanna wager as to how much theta loss I have during the upcoming week? My current theta is -289.15!!!!!!! There will be NO theta decay in the coming week!
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As if I care about your shit. You don't even realize how ridiculous that 5/1 condor was as structured. WTF did you structure it as a natural? bc you're stupid. Anyone with any knowledge would trade the synthetic over the natural.

2020-06-28_16-30-15.png


NOBODY would do the above as structured. You would trade the two-lot as a bear call spread which results in the iron. WHY? bc you don't want to open a trade in a 400-point ITM spread. It's fucking dumb as dirt. Why trade ITM microstructure when you can trade the equivalent in the OTM? (box-equivalence)

Yeah, I remembered that you were in a 5/1 ratio, but for some reason thought it was bigger size. Sue me. $400 gain. Not $1500.

WTF is your PhD in? Animal husbandry?

That's all. Class dismissed.
 
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