My monthly post with random thoughts on articles or market stuff that caught my attention in the last month (as well as some fantasy book recommendations and some other monthly recurring reminders!).
Being down physically is a bummer and for many, make that most, affects our mental state so no surprise you feel as you do. This too will pass. I am 76 and realized 7 years ago I did not have enough to retire on (20 years on a kibbutz part of the problem). In the states in my 20's I was an OTC trader ending at MLPF&S in DC. . So I went into the market in 2017 and now have an income producing portfolio that will see me through and grow. At any time in life my motto is do with what you have what you can. You have enough you should be OK. As to food eat a varied diet with not too much of anything, salt, sugar or alcohol especially, but do not forgo the pleasures of life altogether. Moderation in short. Very best good times come after bad.
Peterffy recently at a conference on zero day options justification: So these zero day options appear to be a controversial thing. But the fact is that we had done for 50 years. We -- although 50 years ago, we only had 4 zero day expiration options a year. And then we went to 12, when options were listed for every month. And then when options were listed for every week, we went to 52 zero day options. And then the finally when they were listed for every day, now we have 250 of them.
I don't think -- I mean it's -- they are substantially cheaper, especially if you're looking at certain corporate actions that are like earnings or they come out at a specific date, so why would you have to buy a 1 month's long option if you want to speculate on what the specific earnings would be. I think you wait for the day before and you buy it at that time. So you pay a lot less. And so -- also, markets are relatively illiquid for moving large portfolios, whether you want to buy them or sell them. So it makes sense to, during the day instead of buying or selling the portfolio to buy or sell the zero day call or put depending upon whether you want to buy your portfolio or sell it and then just do the trade on the close. And then you don't care what price you pay when you do the trade because the same price is going to be reflected in the option when it expires. So you will get paid whatever you lose in the execution. So I think it has zero day options, had a very good economic justification for existing
Stay strong and hope you get better soon!
Thanks for your note. Get well soon. I’m enjoying some of your book recommendations.
Being down physically is a bummer and for many, make that most, affects our mental state so no surprise you feel as you do. This too will pass. I am 76 and realized 7 years ago I did not have enough to retire on (20 years on a kibbutz part of the problem). In the states in my 20's I was an OTC trader ending at MLPF&S in DC. . So I went into the market in 2017 and now have an income producing portfolio that will see me through and grow. At any time in life my motto is do with what you have what you can. You have enough you should be OK. As to food eat a varied diet with not too much of anything, salt, sugar or alcohol especially, but do not forgo the pleasures of life altogether. Moderation in short. Very best good times come after bad.
I hope you heal quickly, it sure doesn't sound fun! Cheers 💚 🥃
Peterffy recently at a conference on zero day options justification: So these zero day options appear to be a controversial thing. But the fact is that we had done for 50 years. We -- although 50 years ago, we only had 4 zero day expiration options a year. And then we went to 12, when options were listed for every month. And then when options were listed for every week, we went to 52 zero day options. And then the finally when they were listed for every day, now we have 250 of them.
I don't think -- I mean it's -- they are substantially cheaper, especially if you're looking at certain corporate actions that are like earnings or they come out at a specific date, so why would you have to buy a 1 month's long option if you want to speculate on what the specific earnings would be. I think you wait for the day before and you buy it at that time. So you pay a lot less. And so -- also, markets are relatively illiquid for moving large portfolios, whether you want to buy them or sell them. So it makes sense to, during the day instead of buying or selling the portfolio to buy or sell the zero day call or put depending upon whether you want to buy your portfolio or sell it and then just do the trade on the close. And then you don't care what price you pay when you do the trade because the same price is going to be reflected in the option when it expires. So you will get paid whatever you lose in the execution. So I think it has zero day options, had a very good economic justification for existing
Recommend Mother of Learning and or Worm if you liked Wandering Inn.
Red Rising Series 2 is just as wild.