options policework

Friends,

A moontower user sent this [paraphrased] message in our Discord the morning of Jan 9th:

NLR [VanEck Uranium and Nuclear ETF] had a price shock on Jan 2 and has been 'fast grinding up' since then. Did I "lose" here because RV climbed up faster than RV and my losses are 'gamma' driven?

Now the most important part -- what can I learn / what should I do as part of my process?

We are going to do the post-mortem in steps. The first task is to take inventory of the scene. Basic policework. “What happened?”

Once that’s established, we can at least start to disentangle bad luck from decision quality and finally wrap up with risk management/hedging/whether we should close the position or not.