===CORN POP CRITICAL EXEGESIS===
first, the fabula:
1. a young, Joseph R. Biden becomes the lifeguard at an integrated community pool (a rarity at the time)
There are 2 highly contextual story elements endogenous to the chronotype of early 1962 Wilmington. Biden, in recounting the story in 2017, stresses their peculiarity-"And to show you how things have changed,"
He's not talking about race relations, but Pomade.
Pomade was a water-based styling gel made from lanolin, beeswax, or petroleum jelly, and was popular (along with hair relaxer) in 1950s-60s African-American young men's fashion.
This detail is not simply "cosmetic', but ironically integral to the story's main conflict.
Although popular imagination attributes more "natural" hairstyles to the '60s, pomade was still in vogue as a styler, as William Morris--AKA "Corn Pop" illustrated. However, it's the likely conjunction of Pomade and some unknown chemical relaxer, which sets the stage:
At the time, hair relaxing or a "perm" invented in 1906 was a treatment popular in Black communities as a way to straighten hair with by chemically "relaxing" the natural curls, using a strong alkali, usually ammonium thioglycolate or even formaldehyde, every 8-11 weeks.
a perm is ruined by water, necessitating here, a Swimming Cap
it's absolutely critical to understand that although Corn Pop was indeed by all third-party accounts, "a Bad Dude", young Joseph Biden was absolutely the instigator of this conflict, as his reflection in the story's 3 sequential episodes, reveals progressively:
Corn Pop violates a minor safety rule on the pool's diving board. Having presumably had his hair relaxed and pomaded, is wearing a swimming cap.
And while for new lifeguards diving boards are an item of frequent accidents and special anxiety..
however, while story itself is dependent upon a host of highly contextual and historical elements, its dramatic impetus of the story notably does *not* follow from any of them but instead,
5. Biden publicly rebukes, humiliates Corn Pop, derisively calling him "Esther Wiliams"
Esther Williams was a competitive swimmer and hollywood starlet quite famous in the late 40s and 50s, and in 1962, a household name
yet what is critical at this affective, contextual juncture is Biden's crude analogy--the association of her signature swimming cap, and Corn Pop's own
not only did biden overstep his authority as lifeguard--unwisely and unfairly choosing to publicly shame and punish where mere discipline was necessary to enforce reasonable rules...
Biden, panicked, seeks out Bill Wrightmouse, a pool mechanic, who immediately furnishes him with a 6-foot length of chain to use as a weapon, along with its own bombastic flavor-text:
"You may gut me, man, but I'm gonna wrap this chain round your head."
Biden seeks him out for help in defusing and/or avoiding the confrontation he has provoked with Corn Pop...
to Biden, this is out of character for wrightmouse, who was for biden, a trusted elder and presumably a Cooler Head
the hypothetical imperative posed by the supposed mentor here is significant, but only in its careful ambivalence...
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How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr
• When to sell
• How to do Adjustments
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1. Let's start option selling learning.
— Mitesh Patel (@Mitesh_Engr) February 10, 2019
Strangle selling. ( I am doing mostly in weekly Bank Nifty)
When to sell? When VIX is below 15
Assume spot is at 27500
Sell 27100 PE & 27900 CE
say premium for both 50-50
If bank nifty will move in narrow range u will get profit from both.
Beautiful explanation on positional option selling by @Mitesh_Engr
Sir on how to sell low premium strangles yourself without paying anyone. This is a free mini course in
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— Mitesh Patel (@Mitesh_Engr) November 3, 2019
Nothing big deal in that.
For selling weekly option just identify last week low and high.
Now from that low and high keep 1-1.5% distance from strike.
And sell option on both side.
1/n
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• Sold Strangles 20% cap used
• Added 20% cap more when in profit
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• Booked loss in calls
• Sold only
Sold 29200 put and 30500 call
— Mitesh Patel (@Mitesh_Engr) April 12, 2019
Used 20% capital@44 each
2nd example by @Mitesh_Engr Sir on converting a directional trade into strangles. Option Sellers can use this for consistent profit.
• Identified a reversal and sold puts
• Puts decayed a lot
• When achieved 2% profit through puts then sold
Already giving more than 2% return in a week. Now I will prefer to sell 32500 call at 74 to make it strangle in equal ratio.
— Mitesh Patel (@Mitesh_Engr) February 7, 2020
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