Tessera

Moontower Sunday 🌙AI leaves the hardest problems to humans 🌙The triggering implication of arbitrage theory 🌙options rapid fire 🌙Nine Inch Noize moontower.substack.com/p/like-neo-d...

like Neo downloading kung fu

Moontower #311

moontower.substack.com

Moontower returns 🌙Jane Street Cope 🌙"Look Ahead" Bias 🌙Vegas Spring Break with kids moontower.substack.com/p/the-guy-wh...

"the guy who invented the chip was a genius"

Moontower Munchies #149

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Moontower today 🌙cross the “bridge of asses” 🌙how to get arbed with perfect information 🌙scaling laws of risk reduction 🌙“research collector” skill moontower.substack.com/p/how-to-get...

how to get arbed with perfect information

Friends,

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Moontower Munchies #148 🌙a market-making project you can do today 🌙market design choices influence who shows up, who gets picked off moontower.substack.com/p/a-market-m...

Moontower #307 🌙math in the car with kids 🌙subway platform riddle for demographics 🌙trader quick math 🌙from straddle to gamma moontower.substack.com/p/subway-pla...

subway platform riddle for demographics

Moontower #307

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Moontower thursday I hope you find this part educational and many parts useful. godspeed moontower.substack.com/p/oil-option...

oil options and the raw gamma paradox

Friends,

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Moontower Munchies 🌙the new 70s "slideshow" 🌙"archival selves" refs: @vgr.bsky.social moontower.substack.com/p/the-new-70...

the new 70's slideshow

Moontower Munchies #146

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Moontower Sunday pitchfork CLAWback In this issue: 🌙half-baked AI thoughts 🌙making your own teacher 🌙a satisfying derivation of the 80% straddle rule moontower.substack.com/p/pitchfork-...

pitchfork CLAW-back

Moontower #306

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The recent action in EWY fits a pattern that happens frequently enough to be worth understanding the SHAPE of its vol. You will find: 🌙handy measures 🌙inspiration for your own exploration 🌙GIT notebook to get you started with yfinance data moontower.substack.com/p/how-a-high...

how a high implied vol can be cheap

Friends,

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Moontower 🌙Launching podcast/YT series: The Options Trench 🌙Make it make sense 🌙"measurement not prediction" in the wild moontower.substack.com/p/at-least-m...

at least make the conspiracy make sense

Moontower Munchies #145

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Moontower #305 🌙Investment Beginning Class #2: The math of investing 🌙moontower as a bridge moontower.substack.com/p/paying-too...

paying too much and selling too cheap

Moontower #305

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Moontower for today... 🌙options policework A highly useful and approachable post (well that claim is for you to decide) for deconstructing a bad beat, how to manage the position, and basic sizing framework moontower.substack.com/p/options-po...

options policework

Friends,

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Moontower #303 🌙more AI use examples 🌙how taxes can influence option trades Below is a vid from the post of IB recognizing a synthetic call. (I explain why I built that structure, because I wanted to close for taxes) moontower.substack.com/p/tip-your-l...

New Moontower post From Text ➡️ Dashboards The gist of this is that good content is becoming more "usable". We're realizing this at different paces but it'll be obvious to most eventually moontower.substack.com/p/from-text-...

From Text ➡️ Dashboards

Friends,

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Moontower #302 🌙i finally got around to some reading 🌙asian options moontower.substack.com/p/asian-opti...

asian options

Moontower #302

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Moontower 🌙on free markets 🌙Bet The Process interview 🌙Investments Beginnings Class 🌙Silver levered ETF rebalances moontower.substack.com/p/whats-the-...

Moontower Munchies 🌙Why optimism is hard 🌙Dunning-Kruger detector refs: @strangeloopcanon.com moontower.substack.com/p/dunning-kr...

Dunning-Kruger detector

Moontower Munchies #140

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Moontower #300 🌙AI projects I'm working on 🌙Investment Beginnings Class moontower.substack.com/p/innovators...

innovator’s dilemma in homine

Moontower #300

moontower.substack.com

Moontower #299 🌙haters 🌙earnings vol 🌙better deltas moontower.substack.com/p/haters

haters

Moontower #299

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Today's moontower: embedding spot-vol correlation in option deltas moontower.substack.com/p/embedding-...

embedding spot-vol correlation in option deltas

Friends,

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Got distracted and published an option post on a Wednesday instead of a Thursday. Used $HOOD to talk about earnings volatility moontower.substack.com/p/hood-a-cas...

HOOD: A Case Study in “Renting the Straddle”

Moontower Munchies #139

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Off-cycle post moontower.substack.com/p/illusions-...

Moontower 🌙work is going to feel very different by next Christmas 🌙 on trading games and family games refs: moontower.substack.com/p/work-is-go...

work is going to feel very different by next Christmas

Moontower #298

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For the fun of it...deployed a version of @investingidiocy.bsky.social simulator with the ability to change design themes trading-sim2.moontowermeta.com

Today's Moontower 🌙Vol orders and option execution 🌙Highlighting @investingidiocy.bsky.social awesome post about Raen and funded trader challenges. He posted his code so I took the liberty: trading-sim.moontowermeta.com Full letter: moontower.substack.com/p/vol-orders...

First Moontower of 2026! 🌙dealer gamma 🌙"slop" refs: @kyla.bsky.social moontower.substack.com/p/slop

slop

Moontower Munchies #138

moontower.substack.com