Cover art for podcast The Derivative

The Derivative

110 EpisodesProduced by RCM AlternativesWebsite

Welcome to The Derivative by RCM Alternatives, where we dive into what makes alternative investments go, analyze the strategies of unique hedge fund managers, and chat with interesting guests from across the investment world. Hosted by RCM Managing Partner, Jeff Malec, join us to take a ride through… read more


Who Would Want to SELL Options, with Mark Adams of Warrington Asset Management

For every option buyer, there is a seller. The brave souls who are accused of picking up pennies in front of a freight train. But are they dumb? Crazy?  Or just better at timing the market than the rest of us? Understanding option strategies which involve collecting premium seems easy, but there’s way more that goes into this recipe. As Jeff Malec asked our guest in this pod “Give it to me straight, partner” (41:25 mark) in the world of options selling. Mark Adams, Assistant Portfolio Manager and Chief Quantitative Officer at Warrington Asset Management is here to break down exactly what means to be an options specialist and the struggles and successes of operating options-based strategies. We’re talking with Mark about Dallas Cowboys, Volmageddon, stock buying for COVID, FANG+ as part of the index, short gamma trades, free put options, moving from the Federal Reserve to Warrington Asset Management, short vol developing a short or long bias, equity replacement strats, top TX BBQ spots, where the market makers are hedging, explaining complex strategies to RIAs, and the biggest mistakes people make when selling options.

From the episode: LJM – the autopsy blog.

00:00-01:42 = Intro

01:43-11:17 = Background Texas Bred to Internship turned Partnership

11:18-25:26 = Digging into the Fundamentals

25:27-47:34 = Volmageddon – Tactical vs Strategic

47:35-57:34 = Everything from Greek Indicators to Calls & Puts

57:35-01:00:01 = Terminal Breakevens

01:00:02-01:03:36 = Testing Strategies

01:03:37-01:11:04 = Favorites

Follow along with Warrington & all of their funds at

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Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit

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