One little push-pull I'm running into is that I'm selecting quality securities that appreciate; the "Active Satellite", but I'm sizing positions smaller for risk mgmt. Desire to increase size is there, but it has to be balanced into the overall picture & the portfolio as a WHOLE.

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)

We need to stop imagining the Jan 6 fascists are purely "brainwashed," misguided, etc. Neither are they guided by white supremacy *only*.

They are largely a vanguard of principled petty bourgeois reactionaries who oppose democracy whether in its mass/working-class or liberal bourgeois form. They have allies in the most conservative and reactionary corners of the "big" bourgeoisie.

They see through a funhouse mirror the hypocrisy of liberal bourgeois democracy (no, the electoral college is not "sacred" 🙄). They also vehemently abhor the capacity of true democracy—socialism—to liberate oppressed, exploited workers upon whom their precarious fortunes depend.

To the extent liberal bourgeois democracy engages mass politics and gives even a highly attenuated and mostly suppressed voice to the working masses, that section of the petty bourgeoisie which turns to fascism regards liberal democracy as a betrayal. Only capital should speak.

The woman who died attacking the Capitol Building was a small business owner from San Diego. Yes, her head was full of conspiracist nonsense but she didn't just invent that lockdowns and worker protections might save lives but hurt her bottom line.

Oregon Prison Report: Voices from the Inside

"The people that were suspected of organizing the hunger strike in April are currently in segregation under bullshit rule violations, being held illegally, having their outgoing mail seized, and are being refused their property...”

“...and yet still in segregation."

(Testimony from Critical Resistance PDX's (@CR_PDX) Write Them All Campaign)

Snake River Correctional Institution (SRCI) / November 17, 2020.

#ODOCKills #KateBrownKills #FreeThemAll

COVID-19

If you are reading this I'm probably in Segregation as we speak because the inmates aren't necessarily allowed to tell you this, a lot of my homies were transferred to a different prison or put in solitary confinement for saying what's been going on here.

Let me start off by saying that this prison is currently and will continue to be a Coronavirus hotspot. Almost for the past year it has been.

At the beginning of this pandemic, due to our childish president, this pandemic wasn't treated with the emergency, urgency, and caution it needed. As you know Snake River is almost 25 minutes away from Boise, Idaho (if you drive fast).

Back when I went to Bishop’s University, I managed the student radio station, CJMQ. When I started, it was kind of a pirate station. We had an illegal antenna on a roof, and a couple of residences could get us through the radiators somehow. Nowhere to go but up.

Happily, it was 1993. Pump Up the Volume made it cool to be a DJ. Grunge and indie were huge. We went from, like, 12 DJs to 100 and started acting like a real radio station. God, it was awesome. It was like we were on a quest. It felt like a real crusade.

Eventually we decided to try to get an FM licence. This was no easy feat. The bureaucracy was maddening. It cost a lot. We needed to find a proper tower. Long story short, after two years of solid effort, everything came together: CJMQ was awarded 88.9 on your FM dial.

We were going to launch one blissful night in 1995. I planned a massive party and woke up the morning of, not quite believing we’d finally made it. I went to say good morning to my roommate, David, and… Not a single sound came out of my mouth. Not even a whisper.

I had completely and utterly lost my voice. OH GOD NO. I raced to the pharmacy and scribbled a note to the pharmacist: “I’ve lost my voice, and I really need my voice.” She nodded and retrieved two suppositories. They were each the size of large-caliber artillery shells.