after this post you will be sizing bets in your head
Real-life kelly
Our thinking on options, trading, investing.
Real-life kelly
Questions traders must ask themselves
Futures lead the cash
Implied correlation between stocks and bonds
High rates and vols make option hedges cheap
Post-mortem on Leopold's SALP
Introducing Workflows
Applying the volatility lens to collar trade intents
Applying the volatility lens to defensive trade intents
Applying the volatility lens to Income workflows
an example of a market-maker decision to not hedge
All option structures are a version of 3 themes
Basics portfolio construction
investing from different vantage points
The Attribution Visualizer now supports multi-leg delta-hedged trades
Options, volatility, and risk — written by traders, delivered when we publish.