OPTION MARKET-MAKING HEDGING EXPLAINED

Why Wall Street Bets and Citadel can both win. With a quick 'tourist market update tacked onto the end.

Holy smokes. After yesterday’s piece, some of you are worried that I have gone full Robin Hood and will be HODL’ng my net worth in out-of-the-money TSLA weeklies. Rest assured, my aversion to owning shorter-term options in all but the most extreme scenarios is tattooed on my soul, and I was merely arguing that in the current environment, owning longer…