The following four scenarios will be discussed at the continued session of the 13th #OPEC & Non-OPEC meeting today:
1-Given the expected growth of demand by 5.9million bpd in 2021 and the expected growth of supply by non-OPEC countries by 1.1million bpd, as agreed in Dec... #OOTT

THREAD ON IRONFLY

These days the most preferred strategy for option sellers due to improved margins is IRONFLY. It's essentially a short straddle with long strangle. Long strangle acting as 'WINGS', which help in capping the unlimited risk associated with a short straddle.(1/n)

You can also view the position as a combination of Cal & Put credit spreads, if that makes it more easy for you.

There are 3 important things to understand while trading this strategy:

1) Initial size of the Wings
2) Risk Management
3) Adjustments

(2/n)

Since we are selling an ATM straddle, the 1st question is how far our wings should be? Ideally i sell .50 delta straddle & buy .20 or .10 OTM strangle, depending on my view on volatility. So the distance of wings depends on the IV setup. Higher the IVs, greater the distance.(3/n)

If you don't understand greeks, then ideally with 30 days to expiry (dte), wings should be around 300pts either side. If your trading in weekly then it should be not more than 200pts. Higher the premiums, higher the distance as we have more cushion of theta. (4/n)

It is important to understand that we need to reduce the distance of wings with time so as to manage our RISK in gap openings or sudden volatile move. So for eg. if you started with 300pt wings with 30dte, the wings wouldn't give the same protection when there is 7dte. (5/n)

To the person who thinks that they might be autistic. - a thread. /1

I imagine you have gone your entire life wondering why you are different, why you can't seem to understand things the way that others can and why everything just seems so hard. I'm proud of you for getting this far. /2

Part of you might be thinking:
"But if I was autistic, surely it would've been noticed when I was a kid? So maybe I'm making this up."
So many autistic people aren't diagnosed until they are adults, if diagnosed at all. You would not be the first and you won't be the last. /3

"My family and friends don't think that I could be autistic."
People's understandings of autism tend to be based off of the media, which doesn't show every possible presentation of autism, or based off of someone they know, and all autistic people present differently. /4

People's perceptions of autism can also be based off stereotypes, for example, "autistic people can't make eye contact, so you can't be autistic." While this is true for some, it isn't for all, so you can begin to see how one presentation of autism can't possibly fit everyone. /5

My view on lent:

My biggest problem with lent is the public display of fasting which is contrary to scripture: Matthew 6:16-18

Just as well, overhearing discussions of humble brags, “oh man, this is so hard fasting from x” while displaying ashes on one’s forehead seems overtly contrary to scripture. Again, Matthew 6:16-18 is clear.

Additionally it has been my experience that repentance and fasting lose much of their substance for those practicing the tradition.

However....

We cannot oversimplify and call lent a “Roman Catholic invention” or a “pagan” practice given its presence, minimally the term, in the early church with people like Athanasius.

In the modern conception: Advent is to Christmas what lent is to Easter. While asceticism is removed and shallow tradition enters into the practice, this can happen in most everything.