It’s Not The Merit It’s The Price
The wrong price can ruin a great idea
Education
Moontower Blog
Our thinking on options, trading, investing.
Understanding Log Returns
The basics of log returns
Using Log Returns And Volatility To Normalize Strike Distances
Log returns measure how far strike prices are from the stock price as a function of time and volatility
Geometric vs Arithmetic Mean In The Wild
Using SP500 returns to distinguish geometric (compounded) returns from average arithmetic returns
Trading Is Like Any Other Business
Trading is applying a process to a need or service the market demands
Well What Did You “Expect”?
Understand the meaning of "average" when returns compounds
Practice Second Gear Thinking
Developing a habit of looking past first-order consequences
Understanding Implied Forwards
Learn how to compute the the volatility between 2 expirations
Examples Of Comparing Interest Rates With Different Compounding Intervals
Translating rates of return over different time periods
Liquidity Ostrich
Thoughts on how we perceive risk and liquidity
The Paradox Of Provable Alpha
What's more likely to have alpha: systematic or discretionary conditional on you being allowed to invest?
Calibrated Confidence
Being a strong bettor requires well-tuned meta-knowledge
The Investing Version Of “Nothing Good Happens After Midnight”
Don’t obsess about investing beyond the point of diminishing returns.
Portfolio Theory In The Wild: Funding YouTube Creators
More life-applied portfolio theory
An Example Of Using Probability To Build An Intuition For Correlation
How probability relates to correlation
Newsletter
Get new posts by email.
Options, volatility, and risk — written by traders, delivered when we publish.