Parth Dhage

QIS @ JPM | IITG '22 | FI or bust

[Parth Dhage @ParthDhage24]

Kudos to not missing a single expiry of this FY and sticking to one mechanical system.
A big shoutout to @madan_kumar for his enlightening seminar – much appreciated! 🙌

[Aditya @AdityaDilipKsh1]

Closing books for FY24 driven by a single 0-DTE short vol only strategy.
This year has been smooth sailing, notably calmer compared to the previous one.
FY 24 FnO returns : 39.9%
Passive investments, primarily in debt, contributed an additional 5-6%.
@ParthDhage24

[Parth Dhage @ParthDhage24]

Next in line Gadkari?

[Ashish Gupta @AshishGupta325]

All eyes on 🙏

[Parth Dhage @ParthDhage24]

"If you compare our leverage as a country to that of the US, we’re a mere drop in the ocean. Gambling runs deep in American culture. From the stock market to sports, casinos, events, lotteries, prediction markets, and crypto, you can bet on anything" 🤌💯

[Parth Dhage @ParthDhage24]

They bet $210M on Zelensky’s suit, and we’re the gamblers? Every serious business runs on leverage. But hey, let’s keep shaming Indian markets for growing up.
Spot on from @Nithin0dha !

[Nithin Kamath @Nithin0dha]

It’s ridiculous to see people comparing options trading volumes in India and the US and claiming that we’re overleveraged. For starters, the comparison itself is flawed. People often look at the number of contracts traded, not the premiums or the actual value involved.

If anything, India is significantly less leveraged than the US, even taking into account the fact that our markets are 15–20 years behind theirs.

Consider this: in the US, the margin funding market (the equivalent of MTF in India) recently crossed $1 trillion. In India, it’s still under $10 billion—just 1% of that. Similarly, US stocks shorted are estimated to be another $1 trillion, while in India, the stock lending and borrowing market remains practically insignificant.

Calling the US a gambling society wouldn’t be unfair. Just recently, there were bets totaling $210 million on whether Zelensky would wear a suit at the NATO summit. 🙂

If you compare our leverage as a country to that of the US, we’re a mere drop in the ocean. Gambling runs deep in American culture. From the stock market to sports, casinos, events, lotteries, prediction markets, and crypto, you can bet on anything

So this constant narrative that we’re somehow dangerously overleveraged, just because of the number of options contracts traded, feels… well, misguided.

[Parth Dhage @ParthDhage24]

@mnopro @Pankaj_ji_Mwale Spot vol skew says market declines, IVs up (i.e lower gamma) so this interpretation is exactly opposite right? I.e positive relationship...am I missing something?

[Boring_Business @BoringBiz_]

“mom, how did we get so rich?”

“your dad charged 2 and 20 to underperform the S&P 500”

[Parth Dhage @ParthDhage24]

@mayank_408 Max leverage in strat?

[Parth Dhage @ParthDhage24]

@Ankit_Quant Bloomberg keyboard>>> wrist bling

[Parth Dhage @ParthDhage24]

@Souvik131 This one is from bbg.
Moneyness vs vol looks ok, but on ttm axis I see vols suppress like within 6m

[Parth Dhage @ParthDhage24]

@ectwoo What is the full backtest drawdown/ Sharpe, vol/dd ratio?

[Parth Dhage @ParthDhage24]

@AshishGupta325 Isn't the liquidity inadequate in crude?

[Parth Dhage @ParthDhage24]

@ZiddiBakra @ectwoo Ok makes sense. Thanks!

[Parth Dhage @ParthDhage24]

@ZiddiBakra @ectwoo keeping the same leverage in both😮? Or you adjust the leverage to have the similar vol or dd?

[Parth Dhage @ParthDhage24]

@Nick_khandelwal You mean the call vs put skew right? And why do you think so? Is it due to more concentrated bidding on puts due to limited contracts?

[Parth Dhage @ParthDhage24]

@ZiddiBakra @nitin_twit @rajdtu Inverse vol weights? Maybe rolling past 6m/12m vol

[Parth Dhage @ParthDhage24]

@GoldenDustbin You tweets always inspire man.
Can I ask if the returns are on the same notional? Or do you have some weight allocation on top of this?

[Parth Dhage @ParthDhage24]

@ZiddiBakra @volalens Is there a premia due to correlation of global markets ? May be overnight cross market momentum effect?

[Parth Dhage @ParthDhage24]

@SarangSood @Mitesh_Engr Can we say Emerging equity markets generally exhibit a higher VRP driven by higher risk perception/less market efficiency?

[Parth Dhage @ParthDhage24]

@Simple_trader_ If you want to master quickness, best to play it from other side (capture the fucking spike)

[Parth Dhage @ParthDhage24]

@tony_gazillioni y = x