hard earned trading wisdom
insights from a practioner, quant and author Euan Sinclair
Education
Moontower Blog
Our thinking on options, trading, investing.
options policework
practice separating outcome from process
Positive delta puts in the wild: Avis stock (CAR)
example of puts that lost value as a short-squeezed stock fell
the bias of hedging on implied delta
deltas depend on vols
how to get arbed with perfect information
no-arbitrage theory can be triggering
N² - n: why shorting is mathematically cursed
why it's more fun to go long
not all averages are created equal
bridging middle school math to investing math
From Text ➡️ Dashboards
vibe code a silver dashboard
vega's finishing move
how vega kills
trading as a sudoku puzzle
sense-making from market prices
a market-making project you can do today
market making exercise
approximating gamma in your head
mental math on gamma
oil options and the raw gamma paradox
gamma and calendar spreads
Example of “measurement not prediction” in the wild
Contradictions
the moontower bridge
an opinionated way to marry options to investing
Newsletter
Get new posts by email.
Options, volatility, and risk — written by traders, delivered when we publish.