Structures aren't an edge*
*Save for boxes, rolls, conversions(reversals).
There is edge in skew when keeping the down and out legs narrow into the skew(terminal edge vs. req); predicting smile (Derman) on LVLD; risk reversals; even structuring short vols/short delta. I am not referring to static edge at inception but betting on skew dynamics BAE. I am not stating that I trade for skew as a priority, but it's involved in everything I do.
If you can trade vol then you know what I am referring to in the above. If you don't, and you're profitable, then you're better off simply trading D1.
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