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Gamma Scalping 102 – The Undisclosed Risks

TASA ID: 13992

This article was originally published on NavesinkInternational.com and in Albourne Village, village-us.albourne.com. 

 

OptionSellers, LJM, Catalyst are among the prominent fund managers currently facing litigation for large losses due to short gamma positions. Retail investors regularly lose their savings by shorting options as well. It is time to explain a few things about the short gamma and the “gamma scalping” strategies.

This article is split in two parts for convenience. The first part, Gamma Scalping 101 – Gamma/Theta Trading, explained:

  • How the daily P&L of a portfolio of derivatives can be expressed with a simple parabola.
  • The concept of break-even, and when gamma brings more value than theta.
  • How historical and implied volatilities explain the gamma scalper’s long-term P&L.
  • How this trader can improve his odds by trading options of high implied volatility.

This second article explains some of the un-stated risks associated with the gamma scalping strategy.

Image/Reputation/Brand Damage:

Does Litigation Solve the Problem?

TASA ID: 2156

When the image, reputation or brand of a person, business, organization or any type of entity has been damaged by defamation (e.g. libel, slander) or any form of communications or action by another, it often leads to litigation.  The wronged party seeks redress in some form or another to “right the wrong” so-to-speak.  It could be simply to have the offending party admit they were wrong (to specific parties or publicly), to have them apologize, to reverse an action, to demand restitution in some form, etc.  In many instances, it involves litigation.

Gamma Scalping 101 – Gamma/Theta Trading

TASA ID: 13992

This article was originally published on NavesinkInternational.com and in Albourne Village, village-us.albourne.com. 

OptionSellers, LJM, Catalyst are among the prominent fund managers currently facing litigation for large losses due to short gamma positions. Retail investors regularly lose their savings by shorting options as well. It is time to explain a few things about the short gamma and the “gamma scalping” strategies.

This article is split in two parts for convenience:

  • Gamma Scalping 101 – Gamma/Theta Trading, is this article. It explains the concept of gamma and theta, the daily P&L of an option market-maker, and the purpose of gamma scalping. It explains the difference of historical and implied volatilities, which are the long-term roots of profitability for the strategy, as well as why and how gamma-scalpers select the options to trade.

  • Gamma Scalping 102 – The undisclosed risks, will explain the not-so-obvious risks associated with the gamma-theta strategy: large losses and how frequent they are, the impacts of the gamma distribution and of volatility increases during large moves, the importance of institutional infrastructure, before concluding on its dangers.

Date Rape Drugs:Psychiatry, Pharmacology and Law

Weaponized Chemistry, a Medicine Cabinet of Assault

TASA ID: 9505

This article was originally published on https://www.forensicpsychiatrynow.com/date-rape-drugs, posted May 15, 2018. 

Drug‑Facilitated Sexual Assault (DFSA) is the use of drugs and/or alcohol by a sexual predator to render a victim incapacitated and unable to fight back against a sexual assault. A side effect of many “Date Rape” or “Club Drugs” is also anterograde amnesia, the inability to recall what happened while drugged, increasing a predator’s belief he will “get away with it.”  Those odds are shifting, but attorneys, Courts, and potential victims are better served if they understand some of the drugs used and their impact on mind and body. 
 
DFSA is more easily prosecuted if reported while the drug is still in the victim’s system and thus testable by a toxicology screen. Each drug has a different deterioration time for detection. Luckily, law enforcement protocols now better respond with urgency to obtain a blood test when a DFSA is reported.  The Drug-Induced Rape Prevention and Punishment Act of 1996 provides for more severe sentencing. Public awareness, particularly after the recent Bill Cosby trial, has made potential victims warier of at least the most obvious DFSA attempts.

To read the full article, click here

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