One of all time favourite motivational song & I listen to it almost daily😊

Underrated song but a true nasterpiece with amazing lyrics & music👌🏻

https://t.co/Omhz4gyJqI

Let me know if you had heard this song before & how did you find it!

#music #inspiring

Thread
How to manage strangles dynamically incase of a violent move or IV spike ?

1) Yesterday and infact entire last week if you had created strangles you would have experienced that during upmove only call side were increasing but puts weren’t decaying.

#trading #Options

2)In morning I had created a short strangle
200 lots 25000 PE sell at 102
200 lots 27000 CE sell at 161

You can sell from below image that if I had waited in this strangle till day end I would have lost around -4.5 L

So lets see what all adjustments did I do logically.

3)After creating strangles the premiums strarted increasing as puts were not decaying and calls were increasing.
So I had kept 100 lots buy on 26500 CE at 400(day high)
My buy got executed at 400 around 12:15 pm & I exited 25000 PE at 75

4) I had kept more 100 lots buy at 435 (recent high made during upmove till now)

The buy got executed at 12:15 pm
So my current open postions now were

200 lots 26500 buy at average 420
200 lots 27000 CE sell at 161

5) Logic:
As short strangles are basically short vol so if there is a movement on one side with no decay then one can start buying atm calls.
What this does is it converts your strangles into ratio spread and if move continues eventually into a debit spread

Options Thread

How options allows to change and adjust view dynamically.
Let’s understand with a live example.

Example : Nifty is at 11921 and you are bullish on Nifty.

1) Buy Naked 11900 CE(call) at 167

Breakeven : 12068
Max Loss : Rs 12555
Max Profit : Unlimited

2) Now your view changes from bullish to slightly bullish so you can convert naked call into a bull call spread by selling 12100 CE at 72

Breakeven : 11996
Max Loss : Rs 7100
Max Profit : Rs 7800

#OptionsTrading #trading

3) Now your changes from slightly bullish to slightly bearish. You can convert the bull call spread into a ratio spread by selling more 2 calls of 12100 CE

Breakeven : 12224
Max Loss : Unlimited above 12224
Max Profit : Rs 18550

#OptionsTrading

4) Now if your view changes to sideways then you can buy 2 lots of 12200 CE to convert the ratio spread in a butterfly spread.

Breakeven : 11936 to 12182
Max Loss : Rs 2600
Max Profit : Rs 12300

#OptionsTrading

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#trading #youtube #books

Thread: Risk hai toh ishq hai ?

1) A lot of people talking about today’s freak trade in 37100 PE in BNF

We as traders are always exposed to various types of risk and it’s a part of our business.

Let me highlight certain risk faced in past years & also ways to manage it

2) Gap Risk

18th may 2009

Markets opened at 9:55 AM as this was the market opening time at that time
Nifty immediately hit an 20 % upper circuit at 10.01 am and the markets froze.
So markets were open only for 6 minutes.

There are many such instances of overnight gaps

3) Vega Risk

On 24th August 2015, the Indian markets declined close to 5.92%.

Nifty around 490 points but something unusual happened on that day.

Far otm Call options shot up inspite of such a huge fall😲

Vix shot up 64%

4)Gamma Risk

26th sept 2019

It was an expiry day and 30000 CE went from 50 to 1000+ in minutes and eventually closed at 0

This move caused lot of leveraged traders to lose a significant amount of their capital
Many such instances of gamma risk on expiry day

5) Flash Crash

31st may 2019

Flash crash in Banknifty of 1000+ points.

Friday’s high of the Bank Nifty was 31,783 and the low point of the index was 30,623

Such flash crash has been seen in many stocks as well on other instances

I'd like to say a few things in tribute to the brilliant musical director & vocal coach Kate Young, who died far too young last week. Even fellow musical theatre folk may not know what a trail-blazing talent she was, so here's my story of Kate (thread)/1

I first met Kate at a rehearsal for Wayne Sleep's 1983 touring dance show DASH, for which I was composer. What struck me first about her (apart from the poetic lilt of her warm, Edinburgh accent) was the impeccable care she was taking playing piano for dance rehearsals /2

(believe me, & I mean no disrespect to lovely dancers & choreographers but playing piano for dance sessions isn't called REPETITEUR for nothing and many repetiteurs switch to auto-pilot at the keys. Kate never did. Her playing was always immaculate)/3

We hit it off immediately & had long, ranty discussions about how we wanted to change musical theatre, like young people do. We had specific aims to do with the way singing was taught & shaped for the stage. /4

We wanted the singing to be much more text & meaning-focused, for actors to have the confidence to sing as well as trained singers & for the sound to be more nuanced, more plural in style & less belty & samey (tbh not sure we won that battle..) /5

"Music, Sense and Nonsense: Collected Essays and Lectures", por Alfred Brendel.

Capítulo: “Conversations - On Schnabel and Interpretation with Konrad

En esta conversación de 1979, Alfred Brendel y Konrad Wolff, autor de “The Teaching of Artur Schnabel. A Guide to Interpretation”, discuten sobre ciertos puntos en los que Brendel no coincide con Schnabel.

Para Wolff, Brendel es el primer pianista desde Schnabel que ha gozado de plena autoridad en la interpretación de Mozart, Beethoven y Schubert. Además, en su opinión, su enfoque tiene mucho en común con el de Schnabel en los detalles de fraseo, tempo y dinámicas.

Sin embargo, hay varias opiniones en las que Brendel difiere de Schnabel. Para Brendel, las frases son como curvas que no necesariamente se miden por compases: “Very often for me the art of phrasing consists in forgetting about bars, ignoring bars and seeing large units”.

Por su parte, de acuerdo a Wolff, Schnabel veía las frases en función de la respiración y del énfasis al principio o al final: “he wanted to know how far he was to play before there was a breath (…), a phrase begins and then goes from there, or else it ends and goes to there”.

"Music, Sense and Nonsense: Collected Essays and Lectures", por Alfred Brendel.

Capítulo: “Conversations - Bach and the Piano with Terry

En 1976 Terry Snow entrevistó a Alfred Brendel sobre sus puntos de vista acerca de la obra de Bach para teclado, la cual hasta ese entonces Brendel había evitado ejecutar en sus conciertos.

Brendel cambió de opinión en esa época. Al haber sido alumno de Edwin Fischer, quien transmitía la música de Bach de una manera única y con poderosa autoridad, le tomó tiempo considerar que estaba listo para abordar a Bach en sus propios

En un principio, Brendel no se sentía muy convencido por las ejecuciones “históricas”. Sin embargo, para él la obra de Bach es menos dependiente de los instrumentos contemporáneos que la de Monteverdi, Domenico Scarlatti, Purcell, Rameau y Couperin.

Entre las ventajas de interpretar las obras para teclado de Bach en piano, Brendel considera el hecho de que este es más adecuado para las salas de concierto modernas. Además, para Brendel dichas obras están llenas de posibilidades

I think Frank Edwards needs to hire a team to do major work sanitising and building a better digital experience for his music, his digital trail and everything else in between

I say this out of need to the larger lesson to creatives, i'd hate to restrict this to Christians alone

I love Frank Edwards, his songs form a huge part of my morning worship routine. But for the past two weeks, I've been looking for a song that I used to play a lot in my first/second year of uni and couldn't find it until I searched a random part of the lyrics and went as far as..

The 6th page on Google search. Yes, that's how badly I wanted it.

Even when I found the name of the song, the song was available as a lyric video on YouTube and published by someone entirely different from who I wanted to give streaming dollars to, that's if it counts for much.

Hit another bump. I want to subscribe, and I realise there's over 11 Frank Edwards on YouTube. Each with huge and growing subscriber numbers, that was worrying.

It was not until this morning I found one with 250k subscribers and I thought... Ah this has to be him.

I search on Google for Frank Edwards and his entire discography isn't listed on Google and it in fact worried me.

Now I am moving to upset because this is someone I love deeply and hate to see how there's so much low hanging fruit that he isn't taking advantage of.

Reason for high repeatability for songs is due to connection with old memories !