Update 2020-08-11

Some general updates regarding how I'm positioning myself.

I'm still remaining long Calls in some depressed stock - it rallied for a burst in May but it was very short-lived. The risks still remain and the play remains viable in the long term (to recap, I'm looking at next Jan). The virus itself may be more long-drawn than initially expected, but it's ok because the market seems ever ready to reward any good news. Keep riding on the disconnect.

The newer idea is OTM Verticals on pharma stocks, since there's nothing else much to do now.

The curve steepener idea initiated some time ago is now expiring for what is likely a small gain or loss. The curve never steepened fast enough for the index to capture it. The only thing wasted on this trade was the tied up capital but that's easily managed.

In the FX space, it seems like the dollar has formed a mid term bottom and I would go long the USD for a bit here. The EUR rally is no doubt warranted so I won't contest that.

I remain underweight SG stocks - it's quite clear that it's an asymmetric play to the downside - has been since the financial crisis.

I think the next 5-10 years or so, we will have to be more active in managing our portfolios - it's hard to see where returns are going to be attractive in the passive space.

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