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An equity strategy

Own calls + cash adjacent investments. Model the risk profile. Make money Don't overthink it.

Iran Play

IMO, Iran has no hope. Therefore I'm investing based on a quick loss for them. Its working.

Double Eagle

I found a 'cash adjacent' investment to enhance my returns. A stock, ticker DEA. It pays 8%, plus nice capital gains potential. Two sources of profits.

Oppenheimer Fund, 1987

Oppenheimer funds recorded exceptional performance in 1987 despite the October market crash, with the Oppenheimer Ninety-Ten Fund leading as one of the best-performing mutual funds of the year with a return of +94.77% through December 23, 1987. It was 40 years ago. I was impressionable. I was impressed. 1. You can't insure excellent results normally. You can always insure before a catastrophic loss with good results. 2. You can manage "insurance" costs. 3. You can't implement an insurance strategy passively with good results usually.

Options to Reduce Risk

Its obvious that a stock + a Put is less risky then just the stock. Likewise a `call is simply the piece of a stock that can only go up. To emulate a stock portfolio, sell the stock, and buy an exactly equivalent number of calls. You reduced risk of loss.

Call Options

A stock can be decomposed into simple vectors, a scalar, Strike Price, and an expiration date. Call Option: A vector that begins at the strike price, ends at the termnal price, and extends upward until expiration. Put Option: A vector that begins at the strike price, ends at the termnal price, and extends downward until expiration. It's value is -price. Strike Price: A scalar representing the starting price of the options. Stock=Call+Strike(Cash)-Put Often referred to as Put/Call Parity. Most important: Stock+Put=Call+Cash.