Tom and Tony engage in heated trading debates with S&P up 13 while Tom declares market ugliness and Tony challenges every move! Watch their explosive argument over Google diagonal spreads and Tom's mysterious MSTY poor man's covered put experiment. The fireworks peak when Tom threatens to quit over Tony's criticism, leading to Italian testicle betting and major behavioral warnings about CNBC appearances.

Witness real money moves on 9 out of 10 chaotic tickers - successfully trading CAT (put spread), COIN (strangle adjustment), GOOGL (controversial diagonal), MSTY (experimental covered put), PBF (iron fly), JD/BABA (pairs trade), CL (naked puts), ES (100-point vertical), and APP (iron condor) while skipping overpriced META. From heated arguments to exotic spreads, this episode showcases the volatile dynamics of live trading partnerships under pressure!

Tom and Tony engage in heated trading debates with S&P up 13 while Tom declares market ugliness and Tony challenges every move! Watch their explosive argument over Google diagonal spreads and Tom's mysterious MSTY poor man's covered put experiment. The fireworks peak when Tom threatens to quit over Tony's criticism, leading to Italian testicle betting and major behavioral warnings about CNBC appearances.

Witness real money moves on 9 out of 10 chaotic tickers - successfully trading CAT (put spread), COIN (strangle adjustment), GOOGL (controversial diagonal), MSTY (experimental covered put), PBF (iron fly), JD/BABA (pairs trade), CL (naked puts), ES (100-point vertical), and APP (iron condor) while skipping overpriced META. From heated arguments to exotic spreads, this episode showcases the volatile dynamics of live trading partnerships under pressure!

In this segment, the discussion transitions from light banter to the intricacies of trading options. The speakers emphasize the importance of making multiple trades to achieve a reliable average P&L, particularly when utilizing strategies like selling higher delta strangles in high implied volatility (IVR) environments. They note that while potential profits may increase with higher IVR, the standard deviation of P&L also rises, indicating greater portfolio volatility. Increasing the number of occurrences in trades can help manage this risk effectively.

In this segment, the discussion transitions from light banter to the intricacies of trading options. The speakers emphasize the importance of making multiple trades to achieve a reliable average P&L, particularly when utilizing strategies like selling higher delta strangles in high implied volatility (IVR) environments. They note that while potential profits may increase with higher IVR, the standard deviation of P&L also rises, indicating greater portfolio volatility. Increasing the number of occurrences in trades can help manage this risk effectively.

Tom and Tony discuss market conditions, noting the S&P 500's rise and the decline in volatility. They emphasize not to hold positions longer just to squeeze out extra profits, especially with low volatility. They also touch on the recent shifts in commodities, suggesting that while the market may send signals, there are no definitive tells. Additionally, they recommend handling vertical spreads by rolling them forward or closing them. They advise a selective approach to trading options versus stocks based on market conditions.

Tom and Tony discuss market conditions, noting the S&P 500's rise and the decline in volatility. They emphasize not to hold positions longer just to squeeze out extra profits, especially with low volatility. They also touch on the recent shifts in commodities, suggesting that while the market may send signals, there are no definitive tells. Additionally, they recommend handling vertical spreads by rolling them forward or closing them. They advise a selective approach to trading options versus stocks based on market conditions.