Disciplined S&P 500 Trade Delivers 3.23% in One Week  Dear Members, As announced during our last general meeting, I would like to follow up on the request to provide a more detailed explanation of selected trades from the current year. Transparency is very important to me, especially when it comes to understanding the sources of our return...

US Equity Volatility Remains High Despite Recent Sharp Decline  Despite a significant drop from recent high volatility, US Equity Volatility metrics still indicate a wide range of potential market outcomes. This ongoing volatility highlights continued challenges for those who have been covering "Short Vol," "Short Gamma," "Short Skew," and "Sh...