The real need to know basis
I've started investing in stocks right after the 2008 crash, but only got into options about 2 years ago. I've had some glorious success, and some magnificent crashes. All along I can say I've always managed to learn something new and the money lost was tuition for further progress.
Before my first option trade I've learnt everything I could about the Greeks, the mechanics of options, and the philosophy behind the wheel strategy which I truly relate to. And then I got whipped out by 40% on a August 2024 because I started trading 30dte credit puts on the ES contracts that all of a sudden decided to screw me up with through Vega. Then I started learning deeper and deeper into IVP which is Greeks level 2 one might say. Added into it a sprinkle of the VIX contracts contengo and the monthly avarage. These 2 helped predict the imminent IV jump whenever you see the IVP getting below 15%. So now every morning when I open my computer I take a look of all the open interests on the following 3 weeks on the spy and some of the stocks in trading on, checking all the relevant IVP to play, and of course how can we trade without some balancing of the entire portfolio betta index which is the 5th less familiar Greek.
Anyone have any other tips for me to check if the playground is safe to play before we get balls in?
Of course, if anything I wrote here is new to you and you want to better learn it, feel free to ask.
Posted Sep 13, 2025, 10:47 PM UTC