Trading Process

Posts about decision frameworks, mindset, education, and what makes a good trader vs a good trade.

Get these in your inbox every market day.

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.

Vol SurfaceTrading Process2 min read

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.

Single StocksTrading Process2 min read

The trader who learned VIX from GFC floor blogs

Sat down this week with Jason Ruschel from Three Peaks Trading.

VIXVol Surface3 min read

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.

Portfolio ConstructionPosition Sizing3 min read

Protective puts are expensive optionality

Protective puts are the most expensive way to hedge a portfolio. That cost is often paid for nothing.

HedgingTime Decay3 min read

Long VIX as a permanent book with two engines

Long VIX works better as a permanent book with two engines running at once

VIXTime Decay3 min read

Why single-stock names dump even on a beat

A lot of options traders learn how dealer positioning works on the index and carry the same logic into single stocks.

Single StocksTrading Process3 min read

Single stock upside is priced too cheaply this season

Single stock upside is being priced too cheaply into these prints.

Single StocksVol Surface3 min read

What options data can and can't tell you

People expect too much from options data in the wrong moments.

Vol SurfaceTrading Process2 min read

The short call roll is a Greek swap

Someone asked me this week whether they should roll a short call that had gone against them on a rally

GammaTime Decay3 min read

Inside the head of one of the biggest 0DTE traders I know

Mark Anderson trades one of the largest 0DTE books I know of

Selling PremiumGamma3 min read

Match the expiry to your thesis

The most expensive mistake I see people make on options is picking the wrong expiry.

Single StocksTime Decay3 min read

Before you buy the call, look at the term structure

Before you buy that call, spend thirty seconds on the term structure

Vol SurfaceTrade Structures3 min read

Every market maker's recurring fear

Every market maker I know has the same recurring fear

Single StocksTrading Process3 min read

The 30-second symmetry check

Here's a check I run on any structure someone shows me. It takes about thirty seconds.

Time DecayTrade Structures3 min read

The call ratio trap: bullish view, short-vol trade

Here's a trap that catches people all the time.

GammaTrade Structures3 min read

The volatility skew as a conditional statement

The volatility skew is a conditional statement. Every point on it is the market's expected vol if the underlying actually gets to that strike.

SkewVol Surface3 min read

The two-timeframes problem options solve

The best argument for using options in a portfolio is that they let you hold two views at the same time

Portfolio ConstructionHedging3 min read

This earnings season was different

Single StocksTrading Process3 min read

Why real money buys 0DTE

Big real-money asset managers buy 0DTE options

GammaHedging2 min read
Page 1 of 3Next →