The Till

Mark Phillips
A weekly newsletter about volatility, advisory, and the markets
Created 25 Mar 2021
  • Holiday Window Dressing
    17 Dec 2021 • 3 min read
    You can count the number of trading days left on your fingers. Another year in the books means investors, traders, and casual market observers take a look at their statements and tally up their PnL Mo...
  • How Badly Do You Want It?
    10 Dec 2021 • 3 min read
    The more you want it, the more you’ll pay. When the seller looks into a buyer’s eyes and sees desire, he knows there is a premium to extract. Good bartering and good poker is the art of hiding that de...
  • No Size Fits All
    03 Dec 2021 • 2 min read
    If you’re sweating, it’s time to turn down the heat. Equity markets saw a series of fits and starts this week, with the standard cocktail of sell offs chased with buy the dip, and a dash of intra-day ...
  • Get in the DAO, nerd.
    19 Nov 2021 • 2 min read • 1 0
    It’s a ridiculous premise straight out of a made for TV movie. “Get in the DAO nerd, we’re buying the Constitution.” Twitter has been abuzz the past few days over a quickly cobbled together group that...
  • Best in the Field
    12 Nov 2021 • 2 min read
    Distributed ledger technology is upending how industries across the spectrum function and create value. It is a disruptive technology, heaved into existence by brilliant and creative technologists- wh...
  • So You're Telling Me There's a Chance
    05 Nov 2021 • 2 min read
    Standing atop a mountain, skiers will map out their line and then “drop in”. The steepest part of the hill is usually right at the top. While there are ups and downs, and changes of slope along the wa...
  • Up and to the right
    29 Oct 2021 • 3 min read
    Skewness is a distortion or asymmetry. It means to give an oblique direction or form to something. Our perception is skewed when it is not in line, not running parallel to conventions. One can even sk...
  • Mind the Slip
    22 Oct 2021 • 3 min read
    Yesterday I executed my first block order in Ethereum options. It’s hard to describe how exciting this moment really was. It not only represented months of work to gain access to the correct venues, b...
  • Crossing the Bridge
    15 Oct 2021 • 1 min read
    Nothing rivals the power and function of a simple bridge. These feats of engineering span across the open air to connect two sides of a river, valley or chasm. In the physical world we have suspension...
  • Buyer See Buyer Do
    08 Oct 2021 • 2 min read
    “This is the new normal”. I heard that quote from a former colleague regarding the paradigm shift that equity and options markets have undergone over the last two years. Meme stonks aren’t a passing f...
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