Jun 29 – Trade update

Super unexpectedly, I got a slew of emails from my new futures broker wanting me to send more $ to cover their risk models. They suddenly realised my risk at -10% slice was high (on their models). I gather that the vol expansion the last few days had all the risk guys looking into accounts and they tumbled on to mine. The Eroom guys are introducers and they were the ones that seemed panicked about the risk profile. On a true crash, the HS3 would likely do very well but most models don’t correctly show that. I was on a sea day (on the way from Copenhagen to Estonia) and obviously couldn’t easily arrange for said wire.

After what was about 25 emails between several people, I was able to transfer from my SPX account at APEX to my futures account at EDF. IF this is how they act on a normal day how will they act on a true crash? I can’t deal with the emotions and demands of several people during a day like that so I am not sure I can expand much with the futures account.

That’s all good though, we’ve developed a few new trade types that have exact risk profiles and backtests (automated 1000s of them thanks to a genius quant in our group) that can be done with ease in SPX and IB. I’ve already moved most of the newest stuff to that methodology anyways.

I’m glad its Friday and the market is up pre. I can go enjoy Estonia and have the weekend in Russia. Yesterday would have been a terrible day to be at port re dealing with brokers.

Big accounts and prepping for travels (HS3 and STT trades)

I am about to board a 24 day cruise and am preparing all of my trades.

I have this on right now:

250 units of HS3 (spread between ES @ EDF and SPX @ IB) (2.5MM planned capital)
20 units of Campaign style STT (1.5MM planned capital)
34 units of X4V14 (Locke style ATM BWB) – (765k Planned capital)
50 units of KH hedge (Black swan lottos)

So that’s quite a bit!

To prepare I have 2 sim cards (local EU with roaming and a CAD world wide roaming) as a reserve. I have unlimited internet on the cruise and I brought a portable monitor and laptop. I’ve entered GTC orders for every HS3 and STT so that they’re there for me. I’ve got all my models ready and none of these are particularly exposed to a BSH as they’ve all got BSH built in. Most of the work is entering, and I am fully entered. I’ve got the GTCs so I can close in crisis (hopefully at profit). The market opens here at 3:30pm-4:30pm depending where you are, so I am usually done my tours etc by then so I can attend to trades in the evening or early afternoon.

I’ve done this before and guess what, it was during Aug 24 2015 crash 🙂 Suffice to say I was tied to the computer for the last 4 days of that cruise. The internet handles IB with ease. Haven’t had an issue. It was different them, I was trading rhinos and Modified Condors. I needed to adjust.

Lately, skew and vol has increased due to trade war rhetoric and i’ve noticed my Decembers take a vol hit. Not a big deal but could have had better entries.

Jun 23 – In Europe and trading update (HS3/STT)

I just arrived in Europe on the 12th (Hamburg) and made my way to Copenhagen to board a 24 day northern Europe cruise on the 27th. We’re here in Europe till the 31st of Aug and will probably hit up Poland, Southern Germany and Italy again.

There’s been a lot of trade evolution in the PMTT group. We’re moving at an exponential pace in simplification of the HS3 and STT trades via almost synthetically identical structures into a much more manageable and executable way. We’ve also added in methodology for campaign style execution which is relevant for me re size. The new evolution of the STT now includes built in BSH which is necessary while the new HS3 is now executable with ease in SPX. All in all, I think they’ll totally replace the originals. We’re solving for drawdowns, margin issues, risk, and increasing potential returns but first and foremost the key thing everyone seems focused on is how these things will react in a crash and exactly how can we minimise the stress of reacting in that type of environment. Crashes are emotional events and we need trades that react positively and don’t require high stress adjustments.

The last crash had challenged certain assumptions and I think has led to a solving of hopefully every potential issue that could come up with margin, margin expansion, broker calculations of said margin and draw downs. I Learned a lot. It’s changed my goal and mindset. I think it has for other people in the group as well. We’re now naturally and entirely focused on risk managements, draw downs, and ease of execution and management during crashes. The one question I always ask myself w/ a trade is how would this react in a crash, how can I neutralise the risk or lock in profits during said crash and what is the likelihood I’d need to react in such a way that would be stressful or against the market. I want to be happy and relieved during a crash and not stressed. The situation I found myself in Feb — can’t happen again

I feel like the last year or two has been a grand experiment in creating a complex option position that sucks premium out of the market in a fairly riskless way thats both scalable and profitable while maintaining all of the secondary requirements of margin, margin expansion, broker calculations etc. We’re in one of the toughest most complex games in the world and it’s no surprise perhaps that it’s taken this long to develop something. It is what it is. It’s a journey.

The recovery since Feb has been nothing short of breathless which is nice.

I’ve got about 180 units of HS3 @ EDF&man, 100 units of SPX HS3, 20 units of campaign style STT, 30 or so units of X4V14, 20 units or so of the new style STT. Ready to rock.

Back at it – April

After what was a very rough period from Feb 2 to about last week, I am starting to recover and regain my ambition and motivation.

I had a rough go with IB margin rules during Volmageddon (Feb). They had implemented a 30x rule which basically summed up the total value of the options and if it exceeded 30x the value of your account, you had severe restrictions with adding new positions/contracts EVEN if they were risk reducing. During what was one of the biggest vol spikes and thee biggest change in volatility (VVIX) the option pricing sky rocketed across the board, and when summed up vastly exceeded 30x. It’s a ridiculous rule and it was an unknown rule. IF I had opposing positions where I sold a put at $5 and bought another put at 4.75 they would sum the position as 9.75 even though there was no substantial risk in that position. In the vol spike, options 10x or more so they’d be $50 and 97.50. This summation technique would put the account in violation of the rule. This gave me problems for when I had to roll or remove hedges. They also used some bizarre calculations that would restrict even further. This left me in a very precarious position where the complexity of removing hedges and positions was very difficult. I couldn’t get off my variety of hedges unless I literally liquidated the entire account which would have been impossible during those few days. I tried as best as I could to remove hedges and small parts of income positions but I just couldn’t get it done in time and the hedges collapsed in value and the STT remained compromised.

Anyways, I’ve been nursing these remaining positions since February and have recovered much of it but not all. I hope that maybe I can get to full recovery by May or June. That’s my year so far.

Suffice to say, I am working with new brokers and won’t be using IB for PM type trading (STTs, HS3s etc). I will also be moving my base trade towards HS3 type trades, STTs in higher vol down moves and John Locke style trades (M3, X4v17 and some BB) as a booster and to bring back some diversification in my trade plan. I still like ATM type trades. I remember when I had the Aug 24 crash with my MICs (this happened right when I was learning the Locke trades and was just initiating). Soon after I had recovered the entire loss from Aug within 4-5 months using M3s and BBs. Anyone that traded MICs, would know just how bad those did during Aug 24 2015. I liked trading those things (M3). I eventually switched to Rhinos and did modestly with them but I hate the upside exposure on runaway markets. Though, I mean, I did Rhinos during one of the biggest up moves in history in the RUT. No wonder I was frustrated with those.

Anyways, that’s my current situation and plan re trading.

I am in Canada now visiting the office and some family and friends. I will be back again for the Montreal Party Poker tournament and probably touring Europe again this summer. I’ll post more about those travels and the trading complications there-in.

STT initial draw downs

Thought I’d share some of the nuance of STT draw-downs during the past several days which I found interesting but expected after back-testing it to death. Always different live though isn’t it? In the last 18 months we haven’t really had large VIX spikes or bearish moves so it’s a nice refresher on how things actually work in real life re trading.

I had entered several June 29 STTs last week when VOL spiked quite high despite the move upward. VIX was telling us that demand for protection was increasing as the market moved up. Traders were protecting themselves. The STTs were a decent price given the pricing of OTM options so I used that to compliment the entries I had the weeks prior in the June 29 expiration. On Monday, the market fell and we had a spike to 15.3 VIX area. So we went from a 9 VIX environment a week prior to a 15 VIX environment. The move was relatively small in the SPX but the VIX move was quite large. That day, the market was hovering around SPY 281.5 with a touch of 281.22. About the same place it was the week before. However, the STTs I entered drew down about $550-$600 a unit which closed in on a 100k total draw down. Of course, these types of VOL based draw downs are temporary and they follow the VIX spikes you see in the charts. If you see a large spike, expect a temporary draw down, likewise, even if the market continues down, if the spike subsides, expect your STTs to regain in value. This type of thing is most pronounced with a move from a low vol environment to a higher vol environment and it will affect newer STTs more than developed STTs. Likewise, If we start entering STTs in this higher vol environment, they’ll be less prone to vol shifts. Anyways, it’s Thursday, and pre-market is down to about 280.6 area and my STTs are only drawn down about $250 a unit yet the market is lower than it was on Monday. Totally normal and give another 10 days, we’ll likely be green pending no disaster in the market. All the while, I’ll be entering more and more STT and setting the next several months up as a success. As time goes buy, the profit tent will build up and even with the market moving lower, the STTs will regain value and eventually, probably in the next 30 days, we’ll be reaching profit targets. If we have another shock event or a shock VIX spike, we’ll have draw down but it’ll likely be less than the initial one as time has gone buy and time builds resilience in the STT. Yesterday they were only down about 200 a unit. Totally normal following a large spike with brand new STTs. Again, time kinda cures all of this. Given another 10 days, it’ll be very hard for the STT to draw down this amount again unless we have an actual larger bear move that requires adjustments etc. The STT likes grind down markets and can handle a sudden move and it’ll often do really good if we can get a bit closer to that tent. Give it 30 days and we and very likely we’ll be green and in a sweet zone for further profit expansion.

This is a great environment to get into STTs and if we can keep this going, we’ll be laughing.

Those vix spikes are great times to enter more. I did. Now we let this move play out and adjust as we need (I usually add condors weight to the direction I need to hedge). I will at times add debit spreads as well.

I’ve converted old STTs (March) to hedge structures by selling some of the longs of the PDS and buying back twice as many of the shorts of the PCS as well I’ll buy back the PCS at cheap prices and sometimes sell a bit more of the front long to compensate etc etc. Credit to Rui @ the PMTT Group for the idea.

2017 – The year of experimentation

This year has been a long year of experimenting and pushing the boundaries of complex option trading. I have come to realize that a good strategy has a triangle of requirements that need to be fulfilled to be a valid scalable trade. Namely, it has to satisfy 1) margin and margin expansion requirements 2) Slippage, fills and real life initiations of the trade 3)Good backtest results.

Pre 2017, backtests were generally good enough because everything was standard and because of this, generally, if it backtested well it would do well enough live. We used standard width PCS and PDS and combos therein, and generally putting those on were quite easy and can be done without much directional risks. IE putting on PCS then instantly putting on the PDS or even filling them as a condor or butterfly. Not a big deal.

This year, I got excited about a few strategies based solely on backtests,–> really good backtests. Almost ‘end game’ nothing else needed type of results. This specific trade required a high vol entry and I patiently waited for this entry in what ended up being the lowest volatility period on record, it didn’t come. Time was wasted from Sept-Nov. Then we had some red days and I licked my chops ready to get trades on, unfortunately, it was met with disappointment. Now, I did put on a few sample tests before but it was in relative low vol and the trade was OK to initiate in low vol as the market didn’t move much and I’ll get into why that ends up being important. Something I didn’t realize. The non-standard widths in the credit spreads were very very difficult to fill. It wasn’t low hanging fruit the market makers could understand and hedge. It was too exotic. Coupled with the PCS you had to initiate long puts that had some combos @ ATM and some OTM (the hedge portion). However, in a fast moving market these things move quickly. So there in lied the rub. IF you got filled on the long puts, there was no guarantee you could get filled on the PCS. Leaving you incredibly exposed. If you got filled on the PCS, it meant that the market was moving against your longs (the makers apparently called them STUPIDS) and you will pay a really bad price for the longs as they become high in demand. Filling this trade in size was a nightmare.

So some people had ideas about using ratios. I gave it a shot the next red day. Again, I had mega issues getting fills on this. It just was untenable. But I did manage to get on about 150 units of this trade through a lot of pain.

The backtests were great, it was the trade of all trades..but filling this live was a different story. It’s all easy when you just enter the trade and press commit in a backtest, not so easy in real life.

The next issue was margin, at first I didn’t have much margin issue at IB but as time went on, all of these seem to margin expand to abut 13-14k a unit! This made the trade almost untenable from a margin perspective. Gross use of capital. So not only did I have a nightmare fill situation but I had a nightmare margin situation. IB doesn’t take into account the full benefits of the longs below a certain delta (in this case our spread was so large that the margin hit from the short was not getting covered at all by the longs). This isn’t such an issue at Think or Swim but at IB it is.

So a dream trade from backtests became somewhat a nightmare trade from a margin and live slippage/initiation perspective. Lessons learned and 3 months of opportunity potentially wasted.

These things you just can’t know. And again, this year was a year of exploring every nuance of complex option trading and it ended my year at best break-even. But the year was the most successful year in growth as a trader and I feel there is not that many more stones to turn. We’re (my PMTT group) are approaching the apex of what’s possible with respect to the triangle of requirements in complex trades. Guess what? It’s gone pretty much full circle for me. I am actively trading STTs and variants of BSh factories and the last 1 month of doing this has produced great result. Now on to formalizing this as a base trade and putting capital to work with what is proven to work and not into nuanced complexities.

Here is the summary of how my year from memory:

1. Jan/Feb I still had on legacy Rhino structures that got smooshed from the incredible trump bull run. Remember these? They hate 4%+ up moves in a cycle. Love everything else. During this time I started testing the new STT/BSH stuff. I started off with BSH and waited as per the rules to finance with PCS on a down day. I think we had a 14 day bull run there with no opportunity to finance, this is extremely abnormal. Bad timing. So the BSHs put on lost money because they couldn’t be financed. Not a great start. The STTs obviously as they always do, did great.

2. March/April I start testing a combo trade I came up with called the PC2 and PC3. The PMTT group seems to like it as well. The tests were insane. Really good. But I miscalculated margin requirements and put the trade on the shelf. I documented this in the blog here even. Exciting stuff. Shelved due to miscalculating margin requirements (I entered each segment into IB and added the margin up). During this time, we used a method that tested very well but failed to deliver during this specific period as a way to finance the BSH. The BSH/STT combo broke even. During this time there was a cross expiration skew issue that kept the financing method from paying off the BSH costs. These are all legacy methods of financing that aren’t really used. Learning process. Backtests of the RC financing method did great. Just we had a bad period here…timing was poor.

3. May/June/July Extremely low volatility, RCs still not working, unable to really have opportunity to put on some good STT trades due to low vol. Start looking at PC2 again and do extreme testing and was aiming to present in September at the PMTT group. Basically broke even through this period. Poor pay off of the BSH. The PC2 had we started in April would have been hitting profit target every single month this year! The financing method is built into the PC2. Unfortunately, I calculated margin wrong and didn’t initiate, instead I used RCs which just did not pay off the cost of the BSH and we were slightly profitable but more or less break even during this period. Maybe up 7%?

4. Aug I entered some T5 (just about 40k worth). Along with most of the group. This was a juicer trade, a trade meant to pick up our returns. It is the most POSEV trade but its got variance. Variance I can accept though. We entered and experienced one of the worst skew issues you could imagine due to the NK missile issues. Vol sky rocketed in January options but not so much in earlier expirations. This caused massive draw down. Most of which was eventually recovered through October. But this was the highlight of August. Also during this time, I realized error of margin re PC2 and started heavy heavy testing and was ready to deploy a mastermind session in September.

5. Sep The HS3 and Fulcrum ideas come out. They tested so well. Dream like almost. Read the beginning of my blog post for more info. It needed high vol entries. Vol was extremely low and historical. We wait patiently for opportunities.

6. Oct Market runs up, I took off some Dec PCS in what was record low vol, with intent to get off PDS next day or so on any slow down. Again, the market gapped up like 1-2% and I destroyed my Dec STT profitability and actually went negative.

7. Nov I decide to enter moderate size of Rhinos thinking we’re apex’ing and unlikely to experience sustained and large up moves. That was wrong, Rhinos were exited at fairly big loss.

8. Dec I finally put live all the good core trades, they do great and recover a lot of the losses from before. STT, PC2 and BSH factory is producing great returns. Onward into 2018 this will be the core.

The interesting thing about all this is that the complexity of all these strategies is solely based on how to hedge them from risk. it’s not about seeking out max EV or anything like that. I say max EV because seeking out max hedge is equivalent to maximizing profit at least from a risk perspective. Max EV trades are trades that have the highest expectancy and this can be without regard to variance. The highest EV trade I know of is called the T5 which is taught in the PMTT Mastermind group.

Anyway. That’s a sum of the year. You can see it was a lot of experimenting and backtesting and trial. In the summer, I was backtesting an average of 4 hrs a day on 20 or so new variants of strategies. Though I may still be backtesting going forward, the core bulk of cash will be put to work in combos of STT and self financed BSh. The STT always produces, it did though 2017, it was the BSH not getting financed that caused the meh results. THat’s solved. Excited to see how this thing does through the year.

More to come.

My plan going forward.. (HS3, BSH Factory, TTTBSH)

Finally finished up a deep backtest run of the newest trade setups and am finalizing my plan for 2018 which I am confident will be a break out year re profits. The trade plans setup are so robust.

Since Jun I’ve just been testing and testing and testing all the various concepts trying to cohesively setup a plan for end of 2017 and 2018. Majority of my free time has gone into this testing and I think I am finally in the homestretch. I have a plan and I have extensive testing completed for the majority of that plan. Testing was completed for the HS3 from Jan 2014 to present and here are the compounded results:

I’ve been waiting for a high vol red day since Sep 5th, and one has just not really come. I need vol to enter this trade. I’ve tested that there are about 20-24 entries per year but some years can be as low as 12-15. Good enough as the trade will return 10-15% on margin. So not only has the trading from Jan to Aug sucked, but I can’t get a damn entry for these new trades 🙂 Frustrating. I guess a year end is just a date, so patience is what I’ll exercise.

As for live trading, basically up to August, trading has been not going my way. I was live trading the STT and BSH w/ financing and just had a terrible time paying off the BSH structures (as I mentioned several times). I underperformed relative to my goals. Couple that with the legacy Rhinos from the beginning of the year that did AWFUL, it’s just been such a “meh” crappy year. I mean, this year has broke records in all metrics for volatility and down day magnitudes and frequency, it went as badly as it could for these types of trades. Coupled that with the fact that I am waiting to enter large trades, and time is ticking, I doubt I’ll have much chance for even a modest year.

When we do get that down day, I am using the trade desk to put on a 100 unit trade and I am not messing about with filling it myself. If we get another few down days after that, I’ll put on another couple of 100 unit sets on. Fun.

Yeah, so when I look back at the year, it sucked for trading live and results therein but it was the biggest learning and trading maturity step I’ve taken. It feels good. The entire year was probably 500+ hours of testing and analysis. Lots of dead ends, but lots of discoveries Jeez, the latter half of the year was so much back testing that I was dreaming about it. When I was on my trip, I’d use the 3 hour nap (my newborn baby) period during the day to backtest and test concepts and lately, it’s been testing in day and at night when the wife and kids go to bed. Since June, I think there have been 15 or so concepts introduced and I think we’re nearing the end of the runway of what’s possible re overall conceptual structures in the equities options market. Anything from here on in will likely be plays off what we’ve already tested. You can see this manifest as the group naturally is moving towards the next level of complexity—>VIX trading.

I’ve been liking the idea of a TTTBSH protecting the initial setup of a BSH factory and have done some extensive testing on that. Even if you do it in low vol, it seems to work out just fine as the TTT will protect until its adequately setup (the factory).

New Trade Results

I’ve been backtesting 3 variants side by side from 2014-2017 w/ entry during a SPX down day of at least 0.5% and a corresponding VIX spike. The High vol entry makes the management of the trade much easier, the more the spike and down, the easier it is to manage. I’ve been testing the HS1, HS2 and the new fulcrum trade . I am not done yet but it’s close. I will be presenting at a mastermind next week and will be talking about the trades and its results.

So far I’ve not had a loser for the HS1 variant which I manage in a specific way. The drawdown has been less than 400 a unit as well. Very very good. The average days in trade is about 48 so far and the return is about 12.5%. The more higher VOL entries will sometimes get to profit in 8-14 DIT especially in more bearish conditions. Beautiful trade.

Here’s what it looks like at initiation:

Despite what it looks like to the left, in a black swan event, it will pick up and handle it just fine if not at a profit.

Here’s a few of the trade initiated around Aug 24 crash date:

Aug 20, 2015 ENTRY

Aug 21

Aug 24 Crash day


Despite the left side, it does pick up and reach profit target on the 21st AND almost double the profit target on the 24th.

The market moved from 2035 to 1890 and it did just fine.

The same goes for the Jan 2016 slow bear move down. It just crushes.

Yep, it’s a game changer. Horny Communist!?

Spent most of the day backtesting and working with the group on slight tweaks to the new trade as well I looked at parameters for adjusting, profit taking, margin expansion and so on. (Some tweaks are basically using different synthetics to better the greeks and so on IE you can short the market directly or you can create the same thing with a short call and long put at the money. But you then have some benefits re VEGA (vol) if the market falls re the long put) So you play with that stuff to get a better reacting trade while keeping the profiles relatively the same..long story short—>Buh-Bye STT and BSH. This thing is it. I’m saying hi to an old friend named optimism. I was down in trading mood this week and It think it showed. I guess at the same time, I mean, I didn’t have my combos on yet (PC2) and I was still struggling with the financing and so on which there was a light at the end of the tunnel. I just wasn’t feeling it. Now I am.

Like I said in the previous posts and above which might not have been obvious, the bulk of my current trading portfolio was still in individual BSHs, STTs and financing there in, NOT combos. A true struggle it was for me. I had not gone live with combos yet (not with any large amount). Had I, it would be just fine (not close to as good as the new stuff, but good). So I’m still old school and am suffering with poor profits from being unable to finance the BSHs in this environment. My reverse calendar financing DID not do well, my NPs were barely existent in some of my BSH financing and my STTs are suffering from bizarre option skews (OTM puts holding value). This whole thing was kinda a mess and resulted from a lot of things not going my way. Still, I am profitable, I just sucked.

So right now, I mostly kept backtesting the new parameters (when do we take profit, what if we move an option here or there and so on and playing with all sorts of dates to see how to setup the profit taking in the trades and to get a feel for draw-downs and so-on. I couldn’t keep up with the developments in the group and in the trade itself re parameters. So I probably backtested this thing in various small forms across every date possible 🙂 It’s using very familiar parts that I’ve traded a millions times before, so it’s not as if its going to do something unexpected but still diligence is required. I think we’ve nailed it now.

I’ll have a solid basket of 5-6 trades all working together and I am going to go live this upcoming few weeks. I’ll be going from the cumbersome financing BSHs, STT mess skipping over the combos and into the efficient versions of said combos that have accomplish the same things with elegance and ease w/ better profiles and greeks. The key thing is these things will be a blessing to manage. Looking forward!

The title had Horny Communist in it. That might be the name of the trade variant as a member noted that the Leftie tent was so big, he kept thinking of lefties/commies and we added a small tiny horn at the front (stolen from the Rhino trade) hence the name Horny Communist :). I kinda like it. This trade mixes ATM style properties but with built in black swan protection.

Sep 13 Update

Not a whole lot going on,

On the super low vol pump up during the last 13 days, I did enter a bunch of BSHs and set and enter much of the Jan STT at a higher UEL on the one down day we had. So the higher UEL is helping financing some of the BShs but not completely and I wait for ANY return of vol to get them paid off. When will this period end? This is the last time I work BSHs like this. I will enter a BSH factory and do opportunistic STTs, Sails and T5s. I just suck at financing these things.

My year is pretty crappy, I’m positive but it must be around 10% or so max thus far. I guess I can’t complain but I feel like I am just waiting for some sort of vol to happen so I can get out of my Dec STTs and start entering all the new setups I have (which all require some volatility to enter). The whole year went to shit re returns from the original Rhinos I had on in Jan-Mar and my poor payoff of BSH financing (RC’s didn’t work well enough and my over-patience for high vol entries of NPs didn’t go as planned). All of the poor performance is to do with my poor financing and using archaic strategies that we no longer use (it was all we had at the time). I attribute this year as a final year to my on-going learning and setup of the dream trading portfolio 🙂 If I can’t break 50% next year, I will question everything. I know that sounds crazy.

I did put on a small Rhino the other day but the up move has it in negative currently. I am still trying to get out of my T5 which I am seeing some value come back in.

As I mentioned, I am convinced that a BSH factory is a great core trade and pairing it with some opportunistic STTs, some Sail trades (High Vol entries and trend following entries with bias) will be the move going forward. I’ve been backtesting it like mad and I am getting crazy returns on any date I enter for the BSH factory, within 6 months or so. It’s a great income trade, but I can only use a fraction of the account on it re initial risks at the beginning. We have exposure for like 10-20 days. I will likely try to tool old structures I have on to compensate this risk so I can put on more and more.

I am back in Cayman now, boredom is starting to set in more regularly but I am getting a lot more work done 🙂