The Till

The Till

Share this post

The Till
The Till
Volatility Tweaks on the GULL
Portfolio Design

Volatility Tweaks on the GULL

Mark Phillips's avatar
Mark Phillips
Nov 11, 2024
∙ Paid

Share this post

The Till
The Till
Volatility Tweaks on the GULL
Share
A sleek, high-tech mechanical seagull in a modern hangar, surrounded by a team of mechanics making precise adjustments. The seagull has polished metal wings, intricate gears, and streamlined design elements. The hangar is well-lit, with screens on the walls displaying volatile stock market charts and financial graphs, adding a sense of technology and innovation. The mechanics are dressed in clean, high-tech uniforms, using advanced tools to work on the seagull. The background has a futuristic industrial feel with glass panels and metal accents.

The world’s most popular options strategy is a three legged hedge. 

While covered calls reign supreme for most retail investors, at an institutional level there are tens of billions of dollars that trade a hedged equity strategy every quarter.

This clever portfolio management tool converts potential energy into protection, buying a defensive put spread by…

Keep reading with a 7-day free trial

Subscribe to The Till to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Mark Phillips
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share