In light of the Boogie Crew here is a interesting first person account of what these guys and some others are about...

https://t.co/KzeHyuiNCC https://t.co/R1AezblPEx

Sorry Joe, we realize your Chinese media puppets won’t speak the truth but, that doesn’t mean the truth won’t be spoken...

You are on the wrong side of history...

It's been a long time since I said it, and who knows if there'll be a chance to do so in the future. So here goes:
I've learned more by being on Twitter than I could have imagined, and it was possible only because so many excellent people say so many amazing things. So thank you

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)

With Myanmar, it seems that some are raising questions about the efficacy of sanctions and concerns about unintended consequences. It’s time for a “Myth and Realities” guide. THREAD. #WhatsHappeningInMyanmar

Myth: Human rights groups are calling for blanket sanctions on Myanmar.
 
Reality: This is false. Most human rights groups are calling for targeted measures directed solely at the military of Myanmar and companies it owns and which give revenue directly to it.

We are talking about the conglomerates and corporations that control the country’s natural resources, including the concessions for extractive sectors (oil and gas, timber, and mining of gemstones, jade, and valuable metals).

We’re calling on governments to focus on revenues and block transactions or seize government or state assets only where there is credible information that the military or its leaders are looting or acquiring state revenues or redirecting it to them.

Myth: Even if tailored narrowly, targeted sanctions will have major negative impacts on the people of Myanmar.
 
Reality: There are all kinds of ways to prevent unintended consequences on the broader Myanmar economy.