/biz/ - Business & Finance

>>53861959
You can buy options if you know what you're doing. Simply buying them as delta/leverage isn't always a good move, since it depends on many things... however deep itm leaps are usually a fair play if you need the leverage on a position, though liquidity is always a concern.

Picrel is a SPY spread I have right now, as a form of insurance against tail risk. Funny line goes up and I win, funny line goes down and I win. It's long vega, and against a crash I realistically have a 4:1 payout or so (though it could be as much as a 20x if it's 1930s bad). It's gained or lost $20 on average and is pretty near my cost basis after a month or two. I think I'm gonna roll it after the next quad witching.