Articles

Options Trading Brings Mountainous Man to His Knees

March 27, 2025 | Risk

Back in 1997 or 1998, my market-making firm on the Pacific Options Exchange was in search of a trader to run the LMM (Lead Market Maker, or specialist post) on the floor of the exchange.

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More on Options: Managing Risk

March 20, 2025 | Risk

Options market makers don’t even really hedge deltas anymore on individual trades—it all goes into one big mathematical soup. It’s very hard to compete.

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Learn About Options the Easy Way

March 13, 2025 | Risk

Lucky for me, I started my career on an options trading floor out in San Francisco.

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The Puzzle of the Stock Market

March 6, 2025 | Risk

Stocks had a bad week last week.

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Karma Has Everyone’s Address

February 27, 2025 | Risk

For many years, I didn’t believe in karma.

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The More Mistakes, the Better

February 20, 2025 | Mindset

Trading acumen is 10% academic study, 30% experience, and 60% mistakes. You really do only learn by doing.

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