Trading Process
Posts about decision frameworks, mindset, education, and what makes a good trader vs a good trade.
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Sell vol in bonds, buy it in gold
A lot of names look oversold on my compass right now.
The 0DTE broken wing fly
When I want to trade an intraday directional view, I tend to reach for a 0DTE broken wing fly.
Hedge it so you don't have to sell it
The reason to hedge something you love is so you don't have to sell it.
Rolling a winner when vol's caught a bid
When a single stock rips, the vol catches a bid alongside it. That's what makes rolling a winner awkward.
Monetising a put hedge in a vol spike
A specific play from the hedge-management drawer.
The premium is the stop
I generally don't use stop losses on long option positions.
Why 0DTE volumes went through the roof
I think a lot of people arrived at 0DTE from the same doorway I did.
Follow-up on Saturday's SMH note
SMH broke out on Monday
The vol level picks the shape
Quick one on structure selection.
If you've got a small account, don't hedge it
Something I'd say more often if I got asked more often.
Grinding into new highs on falling vol (AAPL case study)
You don't need GEX data
You don't actually need a GEX data feed to know you're probably in a long-gamma market.
Trust the tape, not the number
If dealers were really short $10 billion of gamma here, a bad day in the S&P would be down 1.5% or more.
An honest one from Friday
An honest one today.
One of my Delta framework setups
Live example from this week. XLI has pulled back, and the question is whether to lean bullish into the pullback or stay out.
Why I still pick VIX over SPX puts here
Someone asked me this week whether they should hedge a long-only book with SPX put flies or with VIX.
Four things I need to see before buying a correction
There are four things I want to see before I'll put money to work into a correction.
The one option flow I would actually pay attention to
Yesterday I sent the Jason Ruschel interview. This is a specific piece of it worth pulling out on its own.
The trader who learned VIX from GFC floor blogs
Sat down this week with Jason Ruschel from Three Peaks Trading.
Before I add to a trade, I put a number on the worst case
Before I add to a trade, I work out how much room the thing has left to fall.