I think I might be out of commission tomorrow thanks to the NOPE mathematical proof. A lot of us are going to spend some time trying to debunk it otherwise it probably goes in a paper.
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The likely reason why NOPE reverts and tracks SPY and does all the weird shit it does isn't because it's a badass indicator, but because it's related to a deeper mathematical truth.
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The reason it tracks SPY is the deep mathematical truth ... that delta goes up when price goes up.
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I mean it just follows mechanically from the definition, I don’t see what is deep about it at all.pic.twitter.com/gxf7CQ6utO
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NOPE is really OPEN in that it’s an open secret everyone understands but few talk about. Hell, you can even get it by asking your PB about gamma positioning. Still, applause for bringing it public. (But lemon, cem, and spotgamma did it first?)
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