{"id":13641,"date":"2021-02-05T19:44:44","date_gmt":"2021-02-05T23:44:44","guid":{"rendered":"https:\/\/www.duck9.com\/?p=13641"},"modified":"2021-02-05T22:19:13","modified_gmt":"2021-02-06T02:19:13","slug":"delta-gamma-hedging-via-the-deleted-tweets-of-micahel-burry","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/delta-gamma-hedging-via-the-deleted-tweets-of-micahel-burry\/","title":{"rendered":"Delta Gamma Hedging via the Deleted Tweets of Micahel Burry"},"content":{"rendered":"<div>\n<div dir=\"ltr\">\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: auto\">\n<div dir=\"ltr\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1357829213357711360?s=11\"><\/a><\/div>\n<div dir=\"ltr\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152)\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px\">&#8220;Delta-gamma hedging: The process Mr. MM uses to stay neutral when selling you&#8230;OTM options, by buying\/selling shares.&#8221;<\/p>\n<p>&#8220;NOPE is a rough and dirty way to approximate the impact of delta-gamma hedging as a function of share volume,&#8221;<br \/>\n<a href=\"https:\/\/t.co\/yuVJbUIhcL\">nope-its-lily.medium.com\/hello-friends-\u00e2\u20ac\u00a6<\/a><a href=\"https:\/\/t.co\/egjBW6Pzqi\">pic.twitter.com\/egjBW6Pzqi<\/a><\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1357829213357711360?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none\">2\/5\/21, 6:11 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/twitter.com\/download?ref_src=MailTweet-iOS\">Download<\/a>&nbsp;the Twitter app<\/p>\n<\/div>\n<div dir=\"ltr\">\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: none\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1357805615343575041?s=11\"><\/a><\/div>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: none\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152)\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px\">Shades of Gary Pilgrim and PBHG Growth from the 1990s, or Gerald Tsai and the Manhattan Fund in the 1960s.&nbsp;<a href=\"https:\/\/twitter.com\/%E2%80%AA@ARKInvest%E2%80%AC%E2%81%A9\"><\/a><a href=\"mailto:\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@ARKInvest\u00e2\u20ac\u00ac\u00e2\u0081\u00a9\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@ARKInvest\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a>&nbsp;is defining an era. If you know your history, there is a pattern here that can help you. If you don&#8217;t, you&#8217;re doomed to repeat it.&nbsp;<\/p>\n<\/td>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px\"><a href=\"https:\/\/t.co\/kQ7p8n0pEG\">wsj.com\/articles\/<\/a><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1357805615343575041?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none\">2\/5\/21, 4:37 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: none\"><span style=\"background-color: rgba(255, 255, 255, 0)\"><br \/>\n<\/span><\/div>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: none\"><font color=\"#000000\"><span style=\"background-color: rgba(255, 255, 255, 0)\"><b>https:\/\/www.YouTube.com\/watch?v=ejeIz4EhoJ0<\/b><\/span><\/font><\/div>\n<\/div>\n<\/div>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: auto\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152)\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px\">If you do not use&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23robinhood&#038;src=hash\">#robinhood<\/a>, you have to see it to understand what&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23gamification&#038;src=hash\">#gamification<\/a>&nbsp;of&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23stonks&#038;src=hash\">#stonks<\/a>\/options means. So here it is. If this looks like a serious investing app to you, and NOT a dangerous casino &#8220;fun for all ages&#8221;, you&#8217;ve been&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23gamified&#038;src=hash\">#gamified<\/a>.&nbsp;<a href=\"https:\/\/t.co\/NCCqErqnzK\">pic.twitter.com\/NCCqErqnzK<\/a><\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1357360979529461763?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none\">2\/4\/21, 11:10 AM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div dir=\"ltr\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" style=\"border: 1px solid #ccd6dd; border-radius: 12px\" width=\"500\" bgcolor=\"#ffffff\">\n<tbody>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/larrychiang?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1357145003244597249\/YKWG6Fq__normal.jpg\" style=\"border-radius: 50%; padding: 0px\" height=\"48\" width=\"48\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/larrychiang?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: #292c2f; text-decoration: none\">Larry Chiang, 650-283-8008<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/larrychiang?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: #7e8c98\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@LarryChiang\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: #292c2f; font-size: 18px; line-height: 24px; text-decoration: none\">No gods, no kings, only NOPE<\/p>\n<\/td>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: #292c2f; font-size: 18px; line-height: 24px; text-decoration: none\">nope\u00e2\u20ac\u201d or divining the future with options flows. [Part 3: Hedge Winding, Unwinding, and the NOPE] | by \u00e2\u20ac\u0153Nope, it&#8217;s Lily\u00e2\u20ac\u009d <a href=\"https:\/\/t.co\/odV42m7rIl\"><span>nope-its-lily.medium.com\/hello-friends-\u00e2\u20ac\u00a6<\/span><\/a><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/larrychiang\/status\/1357834658327756800?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: #667785; font-size: 14px; line-height: 18px; text-decoration: none\">2\/5\/21, 6:33 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div dir=\"ltr\">\n<div dir=\"ltr\"><span style=\"background-color: rgba(255, 255, 255, 0)\">Blogged from my personal iPhone,&nbsp;<\/span><span style=\"background-color: rgba(255, 255, 255, 0)\"><a href=\"tel:650-283-8008\" dir=\"ltr\" x-apple-data-detectors=\"true\" x-apple-data-detectors-type=\"telephone\" x-apple-data-detectors-result=\"1\">650-283-8008<\/a><\/span><span style=\"background-color: rgba(255, 255, 255, 0)\">, number that&nbsp;Steve Jobs texted me on<\/span><\/div>\n<div dir=\"ltr\"><span style=\"background-color: rgba(255, 255, 255, 0)\"><br \/>\n<\/span><\/div>\n<div dir=\"ltr\">\n<div><font color=\"#000000\"><span style=\"caret-color: rgb(0, 0, 0); background-color: rgba(255, 255, 255, 0)\"><b>https:\/\/www.YouTube.com\/watch?v=ejeIz4EhoJ0<\/b><\/span><\/font><\/div>\n<div><span style=\"font-size: 13pt\"><br \/>\n<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; Cassandra \u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9 &#8220;Delta-gamma hedging: The process Mr. MM uses to stay neutral when selling you&#8230;OTM options, by buying\/selling shares.&#8221; &#8220;NOPE is a rough and dirty way to approximate the impact of delta-gamma hedging as a function of share volume,&#8221; nope-its-lily.medium.com\/hello-friends-\u00e2\u20ac\u00a6pic.twitter.com\/egjBW6Pzqi &nbsp; 2\/5\/21, 6:11 PM &nbsp; &nbsp; Download&nbsp;the Twitter app &nbsp; &nbsp; Cassandra \u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25,1],"tags":[],"class_list":["post-13641","post","type-post","status-publish","format-standard","hentry","category-deep-underground-capital-knowledge","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/13641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=13641"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/13641\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=13641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=13641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=13641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}