I knew there was a danger in selling closer to the underlying market price. He persuaded me all would be fine. It wasnt and the entire account was lost. My account was relatively small (40k back then), others lost +100k. All because selling premium looked like money for jam.

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I learnt the hard way about those models after having a delta hedging account blow up in 2001. We had sold put/call index contracts for September and December. I rang the broker in early September expressing concern about how the volatility had dropped from an average of around 15% down to 8%.

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Glad I have exposure to TF futures through TFPN and Winton to offset some of the poor returns from my TF equity systems. The Aussie market has been going sideways for a year now. Most trades are failing below the 50 day mark. Only have 2 that are over a year old.

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MLX and MND still holding for now. Not many other bright lights

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If there were nothing, what would exist to prevent something from spontaneously existing? Nothing! 🥳

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