The cynic in me thinks that this is a way for bigger farms to gobble up smaller farms by calling in ice but knowing that they will be able to keep ice from raiding them unless a bigger farm pays to have them raided.
Phrasing matters. using "didn't" puts a bad light on FEMA but if they used "couldn't" it changes things. no idea which it is but i'd bet it should read "couldn't"
From my limited experience, former coder now management but I still get to code now and then. I've found them helpful but also intrusive. Sometimes when it guesses the code for the rest of the line and next few lines it's going down a path I don't want to go but I have to take time to scan it. Maybe it's a configuration issue, but i'd prefer it didn't put code directly in my way or be off by default and only show when I hit a key combo.
One thing I know is that I wouldn't ask an LLM to write an entire section of code or even a function without going in and reviewing.
> One thing I know is that I wouldn't ask an LLM to write an entire section of code or even a function without going in and reviewing.
These days I am working on a startup doing [a bit of] everything, and I don't like the UI it creates. It's useful enough when I make the building blocks and let it be, but allowing claude to write big sections ends up with lots of reworks until I get what I am looking for.
My depth of stock trading stops at the buy low sell high level. Can someone explain a little more if you have time? What would have happened to those trades if splunk had went down 20%?
They bought $127 call options (the right to buy Splunk at $127) while Splunk was valued at $119 and the options were due to expire in one day. That's a cheap option to buy, given the improbability of a sudden jump like that.
The only way the buyer could make a profit would be for Splunk to go higher than $127 and if it went significantly higher, they'd stand to make an eye-watering return-on-investment multiple in one day. Which is what happens.
It would be suspicious if this turns out to be a speculative trader making a one-off transaction.
This is an overly simplistic view of options trading. Let’s say I had a view that the stock was going to be volatile, more so than options implied, but didn’t have a directional view. I could buy the calls and short the stock and scalp my gamma during the move.
Or let’s say I was short the stock and wanted to hedge during a volatile FOMC period.
I’m not really sure what you mean. If I buy 10 lots of ATM 0dte puts, and 5 lots of underlying, I will have a delta neutral position. If the market moves up, my put delta will be less than 50 due to gamma, so I am now net long. So I sell some underlying for a small profit which takes me back to delta neutral. Then the market moves back down again, and my put delta increases leaving me net short (again due to gamma). So I buy some underlying to keep me delta neutral. This is called gamma scalping.
In the above, I’ve just realized a small profit by trading the underlying and a small bit of theta burn. As long as the former is greater than the latter (as long as realized vol > implied vol) I make money.
Rinse and repeat this process over and over again.
You and I have vastly different definitions of 'overly simplistic'.
Scalping your gamma?
Feels like the stock market is just a bunch of jargon, subterfuge and financial sleight of hand. Like we learned nothing from 2008, and just created financial 'products' mechanisms and gambits out of thin air.
Stock shorting has got to be one of the most pants-on-head stupid things I've ever heard.
> Feels like the stock market is just a bunch of jargon
This is literally every industry. Do you think the average trader can understand the majority of discussions on HN w/o any domain experience? The jargon exists for a reason.
> Like we learned nothing from 2008, and just created financial 'products' mechanisms and gambits out of thin air.
The financial engineering issues in 2008 were fueled by other issues: simply we had the government suppressing true borrowing costs and fueling a housing bubble under socially progressive cover. These moves almost universally end in disaster historically. The "out of thin air" products I presume you're referring to all had/have legitimate use-cases: the problem is that nobody bothered to do proper risk management because the US Government was fanning the flames in one direction.
> Stock shorting has got to be one of the most pants-on-head stupid things I've ever heard.
That's probably because you don't understand the positive aspects. Shorting is absolutely critical to well functioning and efficient markets. It's not simply evil hedge funds betting against businesses or whatever trope you might have heard.
In fact, if housing was an easily shortable asset class, the above crisis you mention would have been far less severe (or possibly not happened at all) as short selling pressure would have kept prices at more reasonable levels.
> Feels like the stock market is just a bunch of jargon, subterfuge and financial sleight of hand.
Here, what they're doing is establishing a position which will make money if the stock moves either direction out of a narrow band. If you believe there's going to be a big industry upset, but don't know whether it will hurt or harm a specific player, you might enter this position. In turn, the overall market volatility is reduced and liquidity is added by your information being added to the market.
> Stock shorting has got to be one of the most pants-on-head stupid things I've ever heard.
All kinds of simple, legitimate reasons to short stocks. E.g. you are excessively exposed to that company's welfare for some reason (stock options, they're an important vendor, they're a big component in a mutual fund you own but you'd rather not own their stock, etc)-- you can take an opposite position by shorting. Or, here, you can use it to offset an option that moves in the opposite direction.
> Like we learned nothing from 2008, and just created financial 'products' mechanisms and gambits out of thin air.
This isn't too much like the house of cards from 2008. These types of strategies are not new; offsetting short positions by writing or buying options was in frequent use in the 1970s, if not before. Option use to profit from volatility (or hedge volatility) dates back more than 2000 years.
I'm not a big fan of esoteric, complicated financial schemes, or in creating options and financialized products for everything (e.g. cap and trade)... or situations where market players profit from privileged access to marketplaces (e.g. HFT). But the things you name are not any of these.
i don't use apps other then a broswer for the most part, so not that broken up about these api issues. i also don't use reddit as much after they removed the .compact templates.
for me it was a hobo clown painting in the family room whose eyes always followed me as a child. told my parents it was scary but it never came down, i just assumed it had a lock on my parents souls or something.
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