Thanks, that actually is a college textbook. Just started reading Derman Volatility Smile. @destriero, what is vol-arb and how do I learn about it?
It exists. https://en.wikipedia.org/wiki/Destriero 60,000 HP, crossed the Atlantic ocean in under 3 days. Crossed it twice without refueling.
Destriero, as you mentioned long vol/tail, are structures like short butterflies part of the arsenal?
Time flies are a component. Long vol/tails. It can even be sent as a complex order. I cannot show the expiration stress, but here's a running NDX position. Pic shown is stress of LTD at 0 volshift.
Yeah, I had no idea that yacht existed when I coined this nick. It actually refers to my first big watch flip. The IWC il Destriero Scafusia. I bought it really well but it was so illiquid that it took me more than a year to sell and it's a good story. I was celebrating my biggest YTD and it was a cautionary tale of big wins, big taxes and basically degen behavior (drugs, travel, spending it all). Pit Boss approved a $50K DP Craps wager at Caesar's and opened with a 7. Fiction has to make sense. What's funny is ppl have chastised me pub/private for being ostentatious/posing with the yacht nick. Nothing to do with some fcking yacht lol. I've yet to make enough to justify my Grail (Hinckley Talaria 57).
IWC makes a good watch, I had a couple of Pilot's Chrono's back when I wore watches.....more liquid than the Destriero