I've been conducting a deep post-mortem on my recent trading performance, specifically focusing on instrument selection. This requires a hard look at structural risk—and there is no instrument more structurally complex than the market's current obsession: 0DTE (Zero Days to Expiration) options.
This isn't a "scared straight" post, nor is my goal to tell you "never trade 0DTEs." Rather, I want to expose the vehicle for what it is: a negative EV ...

We have moved from the season of hope to the week of proof. After weeks of navigating the crosscurrents of AI skepticism and liquidity withdrawal fears, the market arrives at a critical convergence. The test is binary and unforgiving: Oracle is tasked with underwriting the AI narrative, while the Fed must thread the needle with a delicate 'Hawkish Cut' to cool expectations without freezing the market. This dual audit of corpora...

Hi everyone, I’m Michael McCarthy, a market strategist and the CEO of Moomoo Australia and New Zealand. I started working in financial markets more than 40 years ago, beginning as a booking clerk on the Sydney Stock Exchange trading floor.
Over the years I have traded every asset class, and specialised in derivatives since 1993. Through these decades the markets moved from pencil and paper to pixels, share markets were opened to individual investors, and new industr...

Shorting stocks gives you unlimited downside risk because a stock’s price can rise forever. Keynes’ Investment Philosophy (in a nutshell): “The market can remain irrational longer than you can remain solvent.” Your potential loss is theoretically infinite, while your max gain is only 100% (if it goes to zero). A sharp squeeze (like GameStop 2021) can force rapid covering, spike the price, trigger margin calls, and wipe out your ent...