Desk · options
Options Desk — Trade options only when the math actually works.
The EMI options desk turns equity convictions into structured spreads — credit calls, debit puts, verticals — and only when the reward-to-risk clears 2.0× and the direction agrees with the underlying flow. Sub-floor geometry is rejected at the policy gate, not after the fill.
- ≥ 2.0× RR floor
- Multi-leg combo execution
- IV rank aware
- Direction-classified flow alignment
Why options at all
Options are leverage, not lottery tickets.
EMI uses options to express conviction with defined risk, not to buy weeklies on hype. When IV rank is rich, she sells premium. When IV is cheap and the structure is clean, she buys debit spreads. When the math doesn't work, she trades the underlying instead.
- Credit call/put spreads when IV rank is high and the directional thesis is bounded.
- Debit verticals when IV is cheap and the underlying setup has multi-pillar convergence.
- Flow-conflict block. If classified options flow conflicts with the package direction, "flow confirms" language is sanitized and the conviction gate revokes any prior boost.
- True multi-leg execution. IBKR combo orders, not legging in one strike at a time.
The 2.0× rule
Why a higher RR floor than the rest of the desk.
Options carry asymmetric decay risk. EMI's options floor is 2.0×, higher than the 1.5× futures/forex floor — because theta and IV crush eat smaller edges alive. If the structured trade can't clear 2.0×, the policy gate routes the idea to the underlying or the watchlist.