I think I just realised why the cipher of ‘trans rights’ (which few seem to be able to define in concrete terms) has become the sine qua non of human rights.

Unlike inclusion of women or ethnic minorities, Jolyon et al. know they won’t need to cede any spaces in boardrooms.

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)

As a scholar who has researched and written quite a bit about the Anabaptists, can we set a few things straight?

1. Baptists are not Anabaptists. Their history is theirs; ours is ours. We have similarities, but we are not them. We honor them by not using them for our purposes.

2. Not all Anabaptists were in Münster, and many if not most Anabaptists at the time were just as appalled as we are by the Münsterites. So please drop the tropes equating all Anabaptists with Münster. Informed and honest scholars are known by their right retelling of history.

3. The same truth applies to the other types of Reformation Radicals. There is a great difference between those who have become known as Evangelical Anabaptists on the one hand and Spiritualists, Rationalists, etc. on the other hand. Respect them as you also wish to be respected.

4. Yes, there were Anabaptists who toyed with various heresies, including Arianism, Socinianism, and Celestial Flesh Christology. But there were also many Anabaptists who affirmed, commented upon, and used the traditional Apostles’ Creed, Nicene Creed, and Athanasian Creed.

And if you want to do the honest research, you can also find a few heretical Roman Catholic Popes and more than a few heretical Anglicans, Presbyterians, Lutherans. and whomever else you want to talk about. Good historical theology doesn’t play favorites; it speaks the truth.