Full house at Futu: Henry Wong on multi-leg option orders
HKEX and Futu are both pushing options. The room was full, people stood for two hours, and the questions ran another half hour.
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Options × index futures: three ways to hedge
Why an index-futures position swings so hard, and three option structures that cap the downside.
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The stock rallies and the market maker sells? Long put hedging
Why the desk on the other side of your long put sells into strength instead of buying.
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Buy into the rally, sell into the drop? Dynamic hedging explained
The mechanical reason a hedging desk trades with the move rather than against it.
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How a market maker hedges: delta and the underlying
Delta as a hedge ratio, and what the desk buys or sells to stay flat.
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What a market maker actually does: quoting and hedging
Who is on the other side of a retail option order, and how that changes the fill.
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Stocks vs options: risk control against capital use
The same view expressed two ways, and what each one costs in capital and in risk.
Watch →Written market notes start here
The first written pieces are being prepared. Until then the video breakdowns below cover the same ground, and the newsletter carries each one as it goes up.
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Educational case studies only · Not investment advice · Past performance does not indicate future results