Reading this finally jolted loose a thing in the back of my brain. Almost a year ago now, I stashed this link with a note that I should look into the scheme at some point. Scroll down to the section titled "Box spreads".
...now having spent a few minutes looking at it again, a couple comments. a) If you don't do it right, you can really screw yourself over. There's a legend of wallstreetbets who did this, of course. b) There's now a FinTech company that specializes in doing this for you. An LLM tells me that they get paid by adding an extra ~0.5% to your rate, which is probably worth it if you don't feel like you really know what you're doing. c) I have no idea how long it would take to execute. From what I can guess from what I've read so far, they use a browser extension (a little sketch) to actually put the trade together in your existing brokerage account, so presumably, the actual execution of it all is extremely quick. But it looks like you probably need to do some setup in advance.
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Reading this finally jolted loose a thing in the back of my brain. Almost a year ago now, I stashed this link with a note that I should look into the scheme at some point. Scroll down to the section titled "Box spreads".
...now having spent a few minutes looking at it again, a couple comments. a) If you don't do it right, you can really screw yourself over. There's a legend of wallstreetbets who did this, of course. b) There's now a FinTech company that specializes in doing this for you. An LLM tells me that they get paid by adding an extra ~0.5% to your rate, which is probably worth it if you don't feel like you really know what you're doing. c) I have no idea how long it would take to execute. From what I can guess from what I've read so far, they use a browser extension (a little sketch) to actually put the trade together in your existing brokerage account, so presumably, the actual execution of it all is extremely quick. But it looks like you probably need to do some setup in advance.
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