Mcmillan On Options Here

That night, hunched over a cluttered desk in a dim apartment, he cracked open a thick, imposing volume:

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The next morning, Lawrence didn't rush into the pit. He sat on the periphery, watching the VIX—the "fear gauge" McMillan had helped popularize. He saw a massive spike in implied volatility. The old Lawrence would have bought expensive calls, hoping for a moonshot. The new Lawrence, mentored by the ink on the page, saw the overpricing. He sold a credit spread, leaning into the high premiums. That night, hunched over a cluttered desk in