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I think people held a lot of money back before the election, then things shot up as everyone started buying.
I personally can't see it sustaining, but if it does then that is good for put sellers.
Just a question about Victor Niederhoffer and him going bust in 1997 selling puts. I was just curious if anyone knew more about his position?
From this article all I can gleam is that an 8% move wiped him out and that he was naked.
Anyone know what time frame he was trading and how far OTM he was?
It is a old article but we can use it as an example of what not to do
An interesting line in his Wikipedia entry may give us clues (I have no idea how to get prices from that far back to tell if that was ATM or OTM) "In statistical terms, I figure I have traded about 2 million contracts, with an average profit of $70 per contract (after slippage of perhaps $20). This average is approximately 700 standard deviations away from randomness."
Did you enter any put position in /ES today? Also, I was looking at the trade you describe for ES Put Selling, and I am not sure I understand the 2 long puts. You say you want delta = 1.5. I am finding that the deltas on my platform (TOS) are not in that magnitude. I couldn't find a delta 1.5 put. The short 5 delta was no issue, but I couldn't find any 1.5 delta option.
I would like to demo this trade for the rest of the month and start small when I have enough occurrences to go live.