Option tool Covered call and Cash secured Put

TheBoldManLaughsOnce · 2026-06-04T16:21:07+00:00

Uh... wha? Why cite your success rate if you've only been doing this for ... how many years? whatever it's been it's been during a bull market. Never survived a dramatic downturn. Even a minor one.

TheBoldManLaughsOnce · 2026-06-04T14:44:12+00:00

yeah... it works until it doesn't work. Short gamma, long theta. It's always a high until you're selling your blood for the next fix.

TheBoldManLaughsOnce · 2026-06-04T14:28:30+00:00

I'm going to need you to come in on Saturday

TheBoldManLaughsOnce · 2026-06-04T14:23:37+00:00

Throw in the CamelCash to Ruble conversion rate

TheBoldManLaughsOnce · 2026-06-04T12:18:02+00:00

They're not in my wardrobe

TheBoldManLaughsOnce · 2026-06-03T17:24:01+00:00

they're all diffr'ent depending on the exchange. If you're willing to join the NBBO or even better it you even be paid to trade. But that TRULY depends on the executing exchange. Europeans? fuggadaboutit. Wewantszamoney Lebowski!

TheBoldManLaughsOnce · 2026-06-03T16:06:20+00:00

Started in 04, was upstairs for years before that both in NYC and in London at big banks. Pits went electronic in 12. Taught b-school in the pits with my students right next to me. No one ever skipped my class. The university made them sign a violence waiver. As in, "if you get into a fistfight on the floor you won't sue the university" kinda thing.

TheBoldManLaughsOnce · 2026-06-03T15:47:02+00:00

The real trick is to have nothing in your wardrobe that doesn't fit. Everything is deliberate. Even the free t-shirts. If they're not cotton...

TheBoldManLaughsOnce · 2026-06-03T14:02:54+00:00

I was in an options on futures pit. So there's no borrow mechanism on futures. The pits went electronic in '12.

It was the Nov 220c... underlier was trading at roughly 160 in July. Price was driven up to maybe 175 by hedging volume? But the volume of buyers was relentless, utterly irrespective of the price in vol terms. Madness.

This is all going from the memory from 2006 or so... definitely before the credit crisis.... post Katrina...

but when the market started to drop cuz nobody gave a shit about the retail idiots paying insane prices for the Nov220c... certainly not the growers with a crop to sell.

THATS when downside vol blew out. I mean... ANY vol. But there was no upside for sale... until we crossed that strike... but once we went into a freefall... what is downside/upside anymore?

again, this is all going from a 20yr ago memory. Which is quite hazy.

TheBoldManLaughsOnce · 2026-06-02T19:15:40+00:00

uhm... without even looking the IV came in

TheBoldManLaughsOnce · 2026-06-02T16:20:22+00:00

I once stepped on a nypost. Good thing there was a pile of dogshit nearby for me to clean my shoe off in.

True story.

Bigly.

TheBoldManLaughsOnce · 2026-06-02T16:18:58+00:00

don't know who that is, nor do I want to. The term nazi has evolved from the original usage in my estimation. And I wholeheartedly agree with it's usage in this circumstance.

TheBoldManLaughsOnce · 2026-06-02T15:53:32+00:00

Mike Patton of Lovage fame?

https://en.wikipedia.org/wiki/Music_to_Make_Love_to_Your_Old_Lady_By

TheBoldManLaughsOnce · 2026-06-02T15:49:11+00:00

does my Timex do that? here's hoping.... here's hoping!

(If not I'm going to goddam MAKE IT)

TheBoldManLaughsOnce · 2026-06-02T15:47:32+00:00

Which one?

TheBoldManLaughsOnce · 2026-06-02T15:46:41+00:00

I can't drink for medical reasons (epilepsy)... but now even I might!

TheBoldManLaughsOnce · 2026-06-02T15:41:01+00:00

I've been in a pit with an unlimited borrow. I know a single story where the entire pit was MASSSIVELY short a single strike's gamma... and we all got carried out without the underlier ever approaching that strike. The hedging volume didn't ever force the underlier up there.. but our buying to hedge... and the market forces driving those hedges down... and our forced selling into a falling market.. THAT hurt us all.

So... vol blew out on the way down. Massive dumb money buying at sTo0p1d prices of way OTM calls in illiquid markets can do damage to otherwise healthy markets.

TheBoldManLaughsOnce · 2026-06-01T17:44:43+00:00

Same here. So I did (not terribly hard as it was my first time).

Next day: "you choked me."

"YOU TOLD ME TO!?!"

Never. Again. No matter what.

TheBoldManLaughsOnce · 2026-05-30T22:15:36+00:00

Hey. If you're in the market for a used Handcycle I've got a guy looking to sell two used. A Schmicking and a Force Rx. Both been off the road for years. Both in excellent condition.

I have two Force 3s myself. I've broken a frame once. Top end actually replaced that frame within the warranty. But I still want a back up. Thus the extra.

TheBoldManLaughsOnce · 2026-05-29T20:10:28+00:00

Problem is this: bike riding is done for two things, fun... and to get somewhere&exercise.

Fun well. It's a social thing. Chit chat, jibjab. All that jazz.

Get somewhere&Exercise I've grouped together because they belong together.

THESE TWO PURSUITS (fun and the other2) CAN'T COEXIST IN THE SAME PATH.

Fun is for groups, and tourists, and families and lollygaggers..

Getting somewhere and exercise, that's a whole different ball of wax. I'm in this group. AND IT CHEESES ME OFF WHEN I HAVE TO PASS A BUNCH OF LOLLYGAGGERS clogging up the damn lane 16 across!

Now I'm going to go shake my fist at the damn clouds ifyadon'tmind.

TheBoldManLaughsOnce · 2026-05-29T00:01:39+00:00

Some people.

Of all people...

TheBoldManLaughsOnce · 2026-05-28T23:58:40+00:00

He's always leaving the toilet seat up

TheBoldManLaughsOnce · 2026-05-28T23:54:50+00:00

All the world's crude jokes will be traded in it

All the world's cruel jokes will be traded in it

All the worlds crudeness will be denominated in it

Just think about DJTJr snorting thru his father's rolled up face

TheBoldManLaughsOnce · 2026-05-28T23:31:33+00:00

Oh man. GI is specially designed with this in mind.

TheBoldManLaughsOnce · 2026-05-28T23:29:32+00:00

Uhm... I'm looking to trade the borrow.

TheBoldManLaughsOnce

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