12 karma · joined May 24, 2020
My point is that a market maker will not carry an option position that is impossible to hedge due to the underlying liquidity. In other words, he will not carry a gamma position that is not "in line" with the liquidity of the underlying.
I may be wrong, but the article is about buying a lot of short dated (high gamma) call options from a market maker and hoping that he will drive the market up while hedging his position.
Before making a price they will consider multiple factors, liquidity (of the underlying and the derivative) is an extremely important one. They likely will not carry a trade that is impossible to hedge (because the underlying is not liquid enough).
I'm rewriting it because it seems so uncommon that it may be that I didn't understood your question.
How long did it take to have a working emulator ?
Succinctly, I would say that it's a strong computer scientist/developer highly interested in finance to be able to understand/discuss/implement business requests.
It's important to be able to work under pressure (when there is a problem on an automaton for instance, etc.). It's also important to be able to frequently switch between tasks.
I would not say that you have to be extra smart.
I started as a computer scientist in a bank, turned quantitative developer and then trader a couple of years later.
I joined the desk as a computer scientist. They quickly gave me the opportunity to develop the strategies with them and thus to understand/know the business.
At the bank for which I was working, this kind of move is not uncommon.
I started as a computer scientist in a bank and became a trader a couple of years later.
Outside of my company, it would not have been possible because I didn't study finance.
On my case (Android and firefox) it's fast and seems to work well.
It may be my fault, just giving the feedback in case it can help to improve the UX.