I replaced my IBIT shares into long calls when BTC vol got crushed this week while selling my VIX futures which held up quite well on the equity rally, a possibility I suggested when I explained that the elevated but also flat term structure of VIX suggested vol was here to stay in 2025. From vol speed round:
As I was looking at IBIT I thought I’d share a habit I picked up from distant past of ETF arbitrage — estimating the prem/discount baked into the ETF price I’m about to trade:
In Chapter III of The Theory of Political Economy, William Jevons describes the economic notion of marginal…
Back in my SIG days, every trader had a cell on their spreadsheet showing the…
In this issue: for when the world slows down family investing webinar futures premium cell…
I usually have a concrete plan in advance of writing, but today’s letter is totally…
Follows from Part 1: uncovering the laws of nature Friends, In Part 1, I teased that…
Return Stacked’s RSSB gives you a dollar of global equities and a dollar of Treasuries…