Election theme

Been in and out of a bunch of tech all week including MSFT, tracking QQQ is ruining my day

 

You cut risk when you needed to. Sure, opp loss is worse than losing. But losing because you threw your risk management out the window is far worse. I know. And I you know it too over such a long career doing this day in and day out

 

short mar31 2000 2300 2500 2800 ironfly, vs long may 2900 c delta flat

flat nominal vega, short RT vega, implied carry (spot gamma vs spot theta) is 115 vol.

 

Come on risk, what are you up YTD, 1 year, 5 year, lifetime? There'll be more. Best of us fall too.

 

The link is for a sold-out Neiman Marcus shirt.

 

lol, oops. My son got it at 50% off. Last one in stock.

He pulled the blog post.

 

Can you elaborate your implied carry calculation? Usually carry is quoted in rate terms no?

 

Today's numbers don't bode well, we're weeks from "flattening the curve". This rally ended up fizzling out too....though a sideways market isn't necessarily a bad indicator of having reached "normalcy"

 

I always felt the greatest sin in trading is not earning on the correct view.

 

Implied vol for gamma pnl to equal theta pnl.

It looks good because it has embedded skew and term structure.