BTW, I was not criticizing your system. I was bored and hoping that you were not just a newbie fishing around for something.
No offense but you have not indicated anything about what your system is other then you use calls and puts on the spy. I dont think anyone has asked for the details behind the system. The same can be said about your performance other then you use numbers to communicate it. By the way calls and puts are essentially the same thing, you can adjust your delta risk associated with them any number of ways. It comes down to long or short options and the associated riskes with eaither side of long or short any option. No need to apologize for not realizing what a hedge fund is. One of the good things about ET is that aside form a lot of the anonymous bragging and noise people can actually learn things here.
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I did and do know what a hedge fund is, just happened to use it in a non-traditional sense. Here's a little more of my daily trading: Employing a double diagonal, with the added dimension of adjusting Delta (to tweak the overall fund's beta) corresponding with a contrarian position to market sentiment.
It's not a strict double diagonal, but delta is tweaked to create a net long position, resulting in a beta that is always at least .75
I'm referring to the overall fund's beta position, not the specific option spread. Is that OK? I should have spelled it out.
No one cares about beta really, all that matters is whether you make money and how volatile your returns are. Using beta is akin to saying you beat the market when the S&P is down 20% and you are down only 10%.
It's good to know you speak for everyone else when you say no one cares about beta. I wasn't aware of that. Someone stated a few times that I have given no indication of what my strategy is, but unfortunately my strategy involves examining beta of the entire fund. Ciao.