Okay, welcome to the December 12th planning board meeting. There are five of the seven members here, one of them our chair not being here, so I'm subbing in this chair tonight. We're starting a little bit late. It is 7.09. The first thing on our agenda is minutes, which we have no minutes time, sorry about.  So, okay, so I'm going to read the preamble and then we'll start from there. So in accordance with the provisions of section 5 and 11 of chapter 40A, these public hearings have been duly advertised and notice has been posted and mailed to the Massachusetts Department of Housing and Agreement Development, the Pioneer Valley Planning Commission and Budding Towns. These hearings are held for the purpose of providing an opportunity for interested citizens to be heard regarding the proposed amendments to the Amar Zoning Bylaw. These amendments will be on the agenda for the Town Council at an upcoming meeting. So, 7.10 zoning bylaw changes mandated by the Amar's Home Rule Charter. To see if the town will vote to amend the zoning bylaw by repealing the zoning bylaw in its entirety and adopting a new zoning bylaw, including amendments recommended by the Bylaw Review Committee to bring the zoning bylaw into conformance with the Amar's Home Rule Charter as adopted March 27th, 2018. So, first we're going to have our director, Christine Bestrup, speak, and then we have a couple of other all staff people who are here to speak. So, after the charter was adopted in March, a committee was established, the Bylaw Review Committee, to review the zoning bylaw and the general bylaw of the town of Amar's to bring them into conformance with the charter. And the Bylaw Review Committee consisted of three members, and Mr. Kravitz, who's the economic development director, was their staff person. The three members were Bob Michi, who used to be our town council and has also worked for the state and the capacity of an attorney and he has been generous enough to donate his time to us for this project. There was also a Mr. Hargreaves and a Mr. Kyriek on the committee. And they spent months meeting regularly, looking at both the zoning bylaw and the general bylaw, and they have made recommendations which they would like to present to you. And the idea here is that you would make a recommendation to the town council as to whether you think this is worthy of adoption. And so you may ask Mr. Kravitz for this Bylaw Review Committee to give you a further explanation. Mr. Ritchie is the chair of the committee, so I'll defer to him. Yeah, taking the task that we assumed, most of our time was devoted to the general bylaws, which required a considerable amount of attention to effect a report with recommendations to the council that rocked those bylaws into conforming with the child. The zoning bylaws were much well organized, established, body of law, with a coherent, alphanumeric system of order. And substantively, probably needed to have few changes, mainly to identify the obvious replacements of select board with the town council and town faces and manager and others. And perhaps one or two places where it could be either or maybe something else indeed. So we may have a report with explanations of how we came to the conclusion of the relatively few zoning bylaw adjustments that would be required for the document that you, I think, had in front of you, if adopted to serve as the zoning bylaws of the town, adopted holding the title as the most of action of our council. And we thought that was the best way to interpret the charge to us under the charter. And it reflects a lot of work done by town staff with respect to the adjustments of renumbering some sections that needed to be attended to. So this was an opportunity to fix a few ministerial adjustments with the design of the bylaw that was currently expressed. And so basically that was it. Most of our work, as I said, devoted to the general modelist. So the process that we're engaged in, as you indicated at the beginning, is to satisfy the statutory standard of chapter 40 of Jesus' zoning act. Chapter 40 of section five says that this body has to have a hearing on it advertised for a couple of weeks. And at that point, the condition upon which the council is authorized to legislate will be satisfied. You don't have to like it or not. I think you just have to report to the council that you had this meeting, the public had an opportunity to come and look at it. And then the council is jurisdictionally equipped to have. Can I say one more thing, which is that the plan where did receive a transmittal memo from Doug Slaughter, the chair of the select board, transmitting this document to the planning board for its purpose of holding the public hearing. And just to address the issue of the order of change during the transition, we had one executive body sending it over to the select board sent it over and now you look for it after the legislative body. That matter is simply subsumed into the way the child was written. The attorney general has consistently interpreted these two events, the planning board hearing and the transmittal to it by the select board of the town or anyone else under the name child. As irrelevant, as long as the two things were done, it really didn't matter the order in which they were done. If there was any concern about the way it was transmitted to the planning board, those concerns to the board. Would the board like to have Mr. Ritchie, Mr. Grads walk through these changes one by one? I don't think it's necessary. I have to review the changes that are also minimally sensitive to me. The only issue is maybe the dioramic section, which is complicated and it would be useful to know what is going on here that may not be DI. I agree with that. If you could step through that one. The only other one that had any substituted changes was the CBA, that where you changed the membership writing. That was part of the charter. You know, you can't have a part of that. This was trouble. I just wanted them to say it because everything else is pretty much what you said, a cotton paste of new wording for old wording. So like one sentence, just explain why that, in how that one's covered. And then the marijuana, which is quite large and it wasn't right up at least. The individual components of the provision ceiling with marijuana may be confusing, but they were confusing in their current residence. The goal was to take them and just move them without making any substituted changes to them. Yeah, and I can take that a step further. I believe what happened when these were passed is they were all passed and the subsequent definitions were not renumbered. So there was going to need to be a renumbering. Also, keeping all the marijuana definitions together seemed like a sensible thing to do. And doing so and just renumbering it would then put the definitions not all in alphabetical order. So this was a solution that didn't change any of the definitions. It's literally just putting a header, 12.31 marijuana uses and then moving all of the definitions related to marijuana uses under that header so that they're, both 12.31 is alphabetically correct and within 12.31 it remains alphabetical. And I believe the planning board would have, if not for the charter transition and the other changes the planning board probably would have had a public hearing and asked the clerk to make non-substitutive changes I think which would have been allowed. We thought rather than having two public hearings and noticing them both, we could just simply do it together. So if I'm looking at the full bylaw, so and then he gave us a memo. So we see the new inserted text from marijuana and then if we went to like page 114, even though it doesn't look exactly the same, it's just been shuffled is what you're saying. There was another marijuana related thing I think in the dementia table. Yeah, section 33 on the second page of the memo and again it was just, I think one of the sub items had been deleted and so we just changed the numbers from four to three and from five to four. And that was the only change there to clarify. Does the planner, does anyone else have questions? Anyone else? All right, so at this point we can open it up to the public. If there's any public here, please state your name and your street address and you can ask any questions, are there any questions? No, okay. So, what are we thinking? Thank you for all the work that we've done. Oh yes. I just wanted to work a little bit. May have been in the other general bylaw but I think this is, this seems non-controversial to me and I would move that we recommend, as planning word recommend to the town council to adopt these changes to go as our bylaw. Thank you. Okay. And please have a drink. Thank you. Thank you. Thank you. So, with that, is there any more discussion? Okay, so we can have a vote on favor to unanimous. Thank you, again. Thank you. Thank you. Very detail-oriented. So, we can move on with our agenda. We move on to old business and A, I believe Chris was telling me that we don't have any signer of decisions. Unfortunately, we didn't get the decisions we're doing today, but we'll have you with us tomorrow. The special permit decision needs to be final by Friday. So, I would ask planning board members to come here to sign the decision, or I could drive it to your house to get your signature. The reason it needs to be signed, it needs to be final to the town court by Friday because it expires on the 16th. That's just the special permit. The site planning review can be taken very early to future date. That's not so time-sensitive. So, what is our review plan for next week? I would prepare tomorrow and drive it to your house. I don't know. No, we can come on the sign. How do you do? Sometimes, between tomorrow and Friday, say, what if we say two o'clock tomorrow and it has to be the clerk's office by 4.30 on Friday, so we, but I wouldn't want you to, wait until then. Like, how about two o'clock on Friday? You want me to do that? What, all the same time? I think you want me to do it. Let's do one o'clock on Friday. One o'clock on Friday. So, after two o'clock tomorrow. So, can we all sign it by one o'clock on Friday? Is that the question? By one. Yeah, I'll probably count Friday morning. I will, too. Okay. And I can drive it to wherever you want. I can't do it. I can't bring my door. I'm sorry. I'm sorry. It'd be ready by one. I would better be by two o'clock tomorrow. Come on. Okay.  Great. It's more like that. I'm going to do it Friday morning. I'm going to do it Friday morning also. I'm going to schedule. Are you going to tell the other two members today? Yes. We need one more member to sign it. Mr. Burton doesn't need to sign it. What? He doesn't vote in favor of it. Yeah, you were against. You were voted opposed to it. So that's true. Your presence. So you don't have to be bothered to sign it. Only just voted in favor. So the four of you plus, Mr. Stetson and... Ms. Chow. Ms. Chow. Yes. And I'm very sorry about that. It's just been very busy. We've had people sick and changing jobs. No worries. No worries. Thank you for all the stuff that you did. That's right. No problem. We should stop it. All right. Great. Any other topics? Not anticipated? Business. No. I'm just going to bring up that Chris did send us an e-mail regarding the E&F for the Applied Golf of Photovortag Power System project. We should have all gotten that. And nothing else is preceded with that. No meeting scheduled. You know, we sent this letter to the state and then they're going to issue a certificate on E&F and buy it on an application form. It will tell the applicant if there's any questions that need to be answered. It's possible that they may require an environmental impact statement, but I don't know whether they will or not. The Applied Golf is right now upstairs in the Conservation Commission meeting and the people who are interested in it should go upstairs after this meeting if they have to say. It will probably take more than one evening to come up and then it will probably come to me as soon as we work appeals later in January. Probably January 31st. Okay, so now we move on to new business topics not recently anticipated for eight hours. The only thing I have is scheduling our next meeting. I assume we don't want a meeting on the 19th next week unless we need one. We don't need time to meet on the 19th. So the next one would be January 2nd. I'm sorry. We're not to do the January 7th. Yeah, so make it the 9th. We're giving the 16th. 16th is the most. So the 16th is the next schedule of meeting. That's the meeting that we requested that the solar people can make a presentation on the 16th or the 16th. So January. So the next meeting will not be until the 16th. Okay, unless we head from there. Yes, okay. So that's good. Then there will possibly be a meeting on the 30th if there's a lot of business. Okay, so we move on to are there any form A and R's? Okay, any upcoming ZBA applications?  I haven't told you about any upcoming SPP, SPR. There's one ZBA that I have. There's one ZBA that I have. The Medical Marijuana Facility on Medostream. They are coming in with an application for special permit for recreational marijuana sales. So that will probably be heard on January 31st as well. Thanks. That's RISE, isn't it? RISE. Okay, so back to the SPP, SPR. So now we move on to item eight, which is plan book, committee, and liaison reports, which Chris has told me earlier that obviously the council hasn't moved on any of the new appointments and such. So we have what it is, but I'll run through the list. Pioneer Valley Planning Commission. We don't have any tomorrow. So we don't have anyone for the Community Preservation Act right now. We don't know if they have that. I don't know if they're meeting. Mr. Group is nominated, but yeah, they haven't. You don't need to get an introduction to that. Okay. Agricultural Commission, that's vacant. Design of View Board. We have had no meetings since our last planning board meeting. Okay. Greg's not here. He didn't report on the Amherst, but the Housing Trust, I do know this. Is there a meeting coming up? Yes. I came up last week, actually. I think it was the 6th. We have to do the other meeting. Okay. Zone and subcommittee. We don't even have anyone here to report on that. UTAC, there's nothing to report on. Either of those. The working working group is a meeting next Wednesday. But I don't have to report. So the next is report on the chair. I have nothing besides I hope you all have great happy holidays for your families and friends and anything from report to stats. Same from staff. Happy holidays. Great, happy holidays for you. All right. And John, my internment. We're good. Wow. This might have been a record. I think so. Thank you. Thank you. We're all good.


Sharp's Trafalgar, by Bernard Cornwell. Read by Paul McGahn. A hundred and fifteen rupees, Ensign Richard Sharp said, counting the money onto the table. Nanna Rowe hissed in disapproval. A hundred and thirty-eight rupees, Said.  It were fourteen pounds, seven shillings in Thrippme's Apney. Nanna Rowe saw a young officer, a mere ensign of no importance, but this lowly Englishman had a very hard face, a scar on his right cheek, and showed no apprehension of the two bodyguards who protected Nanna Rowe and his warehouse. A hundred and fifteen, as you say, the merchant conceded. I get older, Sahib, and I find I cannot count. You can count all right, Sharp said, but you reckon I can't. But you'll be very happy with your purchases, Nanna Rowe said, for Sharp had just become the possessor of a hanging bed, a teak-travelling chest, a lantern and a box of candles, a hog's head of arach, a wooden bucket, a box of soap, another of tobacco, and a brass and elmwood filtering machine, which he'd been assured would render water from the filthiest barrels stored in the bottommost part of a ship's hold into the sweetest liquid. Sharp had bought the goods, because passengers on the great merchantmen at the East India Company were expected to supply their own furniture. You will leave the goods here, Nanna told Sharp, and on the day of your embarkation my cousin will deliver them to your ship, and when you are happily arrived in London you can sell the items for much profit. Which might or might not have been true. But that same night, Nanna Rowe's go-down was burned to the ground, and all Sharp's goods were consumed along with Nanna Rowe. The go-down, not three hundred yards from Nanna Rowe's, did a fine trade, as passengers replaced their goods at prices that were almost double those that Nanna Rowe had charged. Richard Sharp did not buy anything from the second warehouse. He'd been in Bombay for five months, and had explored the city, finding companionship in the alleyways, and it was one of those acquaintances who, in return for a golden guinea, gave Sharp information worth a hundred and fifteen rupees. Which was why, at nightfall, Sharp was in another alley in the city, wearing a cloak thickly impregnated with filth. He joined a score of beggars, some horribly maimed, who, along with almost a hundred petitioners gathered in the courtyard of a house, and awaited the pleasure of the owner, a wealthy merchant called Panjit. After he'd eaten his evening meal, Panjit, resplendent in yellow silk, appeared on the veranda together with a second man, this one dressed in red silk. Nanna Rowe was quite untouched by fire, and as Sharp's guinea had discovered, was also first cousin of Panjit, the merchant who owned the second warehouse. Tonight they were choosing which men would be given the lucrative job of rowing the passengers and their belongings out to the great ships. The chosen men would pay for the privilege, thus enriching Panjit and Nanna Rowe even more, and the two cousins planned to propitiate the gods by distributing some petty coins to the beggars. A servant, who'd been guarding the outer gate, pushed to the crowd and spoke in Panjit ear. For an instant the merchant looked alarmed, but then he whispered to Nanna Rowe who just shrugged. Panjit shouted at the bodyguards, who energetically drove the petitioners back to form an open passage between the gate and the steps, and Nanna Rowe stepped into the black shadow at the back of the porch. There was a commotion. Then the outer gate was pushed fully open and Sharp stared in astonishment. A group of British sailors stood there, led by a naval captain, resplendent in cocked hat, silver-buckled shoes, and slim sword. He took off his hat, revealing thick blonde hair, smiled and bowed. Do I have the honor of coming to the house of Panjit Lashhti? This is the house Panjit said in English. The naval captain put on his cocked hat. I have come, he announced in a friendly voice, for Nanna Rowe and my money. My name is Captain Joel Chase of his Botanic Majesty's Navy, and I would be obliged if Nanna Rowe would come with me. His body was burned, Panjit declared, and his ashes have gone to the river. He's no more dead than you are, I, Chase said, then waved his men forward.  Their leader was a huge man whose bare forearms were thick with tattoos, while beside him was a negro every bit as tall. You will leave my house now, go, or I will summon authority, Panjit insisted. Chase turned to the tattooed man. Sample complete. Ready to continue?


Good morning. I'm speaking on soccer. My favorite sport is soccer. Soccer is played 11 players. Soccer is my favorite game. Soccer is played with football. I love soccer because it is fast game. To win, we need goals. Goals kicked into goal post. My most favorite players, Didier Dragba, Ivory Coast, Cristiano Ronaldo, Argentina. No, Portugal I think. Wayne Rooney is also my favorite from England.


I'm late let's go so that's me. I'm working at Canonical packaging LibreOffice for Ubuntu and also I am in the board of directors for the Document Foundation and well let's go back to 2010 because that was when the whole thing started with a new build system new back then and I wanted to just just have a look at what we thought we would do back then and how how we thought we could improve stuff back then and what we actually achieved from that so yeah that was one of the original slides from the open office conference in 2010 except that it didn't have this branding but and well that was the goal back then and for the most part I think we we achieved that but it might not look like that if you're building LibreOffice now but you have to think about how how open office was building at that time and there were many many things that were broken there there were manual dependencies there were incomplete dependencies that were incompatible builds which means that you could build one part and you had to know which part would change if you change that and if you didn't horrible things would happen and all kinds of other issues so those were the goals we had back then actually I thought by now we would all use 32 core machines and that didn't happen by now we just use all very nifty laptops but the other things still are true and are things that we very much profit from now and if you if you use LibreOffice now and think well LibreOffice is still slow that was the comparison from just building a few modules that was back then and it's pretty much the same like that now except that we almost take as much for standard standard run of these modules because we run all the tests by default all the time or lots of them and so we got a lot faster and then we added a lot of tests that you can't disable so we are back as slow as we were before unless you know how to trick around that but I'm not gonna tell you so one other goal of this was to not repeat yourself one other goal of this was to not repeat yourself because repeating yourself is stupid and especially if you're in the build system you have multiple things that tell you how to build something that can again be inconsistencies and stuff that can create issues for comparison this is how it is in LibreOffice right now you register and if you want to have a new library there you put it somewhere which says in the registry repository mk which essentially says where it should end up in the final build and well then you say how to build it like I want to build these C++ files in the old open office world well it was a bit different so that was one of the issues we had with the old stuff the other thing was TimTofTDI so there's more than one way to do it and well that's always a bad thing because you have to know all of them to to read actually what others are doing and again by by now if you want to for example export a symbol in LibreOffice you do something simple like this you add something DLL public to the declaration and then the symbol is exported in open office yeah you could have multiple ways to do that and everyone what would cause interesting different slightly different effects so again it was troublesome whoops same slide so this this was the initial implementation of the back then new build system we had all these targets in one huge dependency tree and that meant that we were aware of all the stuff that was happening in all the build we didn't have like these horizon effects where you would do an incompatible build which meant you build something and said I'm pretty sure this is binary compatible with the rest and trust me and it actually knew if it was binary compatible or not and most of the stuff so the core stuff of this is still like that today a few things changed like the backwards compatibility is gone we we don't need like to deliver and copy stuff five times around we needed to do that in the old open office build system to be compatible with the old build system so thanks to all these guys who helped contributing to this the important quote here is I say we take over nuke the entire site from orbit it's the only way to be sure that was the the last comment when we killed the last part of the old build system so that needed to be in the commit message there so with this we had the comp the whole build system on essentially on one build system and not like we had before two or rather three like the old one the new one and the one that mixed everything between those which was some ugly pearl hickory and then I got bored and I wondered if I could do more than the stuff that I originally planned for the new build system and one of the things was well actually syntax highlighting and using IDEs is pretty good thing but it's it's hard to like manually tell your IDE where all the the include paths are and things like that on the other hand well we can't just say use visual studio and then we build everything with the which is studio because that's kind of hard of lin on Linux and on other platforms so using just an IDE as the main build system doesn't work but what we could do is have a haven't the normal cross platform build that we have before and export solutions to different IDEs so they could be using this to give you a syntax highlighting debugging and stuff like that so the first idea it was K develop because well seem to be easy to me and again as I said that was not not something that was initially planned it was like an afterthought so what it did was you did a make NP which prints out out all the build information and then it passed that and tried to build the IDE solution from that turns out that something as simple as make NP isn't really stable over different versions of make so the parser for this turned to be it always added more stuff and I looked at this and this is not good we are we're taking more time to pass actually the info then then is actually in there and the result was always flaky because people were using different versions of make and it was kind of tricky to to use this in a reliable way and the goal of this was to have people who were new to development to get it on an IDE and well if the first thing they do is is failing and they need a full build to get there that's the kind of sex so I now reorganized that and did all the the tricky stuff in the build system itself and then it just dumps that in Jason so that a simple Python script can read that and translate that to whatever IDE you want to have so this is the solution right now and I think it it mostly is reliable and we can look here right there was a question from where's young is young here nope young asked me well I looked at the files and and the compiler switches whoops the wrong slide that actually are given to to compile a C++ file on windows and almost all the stuff all the method all the data about what definitions and flags and stuff are to be used for this target or in the JSON file with a few exceptions and this is what he was asking about and that's these few a few things still missing that is like generally config specific stuff like which flags to use for exceptions and stuff like that which is not target specific so when he wrote this email should they have been in the JSON I said well no because they are configuration specific and they are the same for for the whole build but maybe we should I should just drop in JSON file next to it which which contains all this info so that you can actually from the JSON file find out all the flex that were used to build this on your specific platform so which ID ease do we have well K develop that was me in the beginning then Hansard did Visual Studio and young and others did additions to that Xcode was I think initially done by Tor and then a lot of work by young so we have like the major platform and major ID ease for each platform being able to to work on LibreOffice code in the native natively feeling environment and we have Vim and you completely by Moggy for the old Unix guys who wouldn't use anything new and well we have Qt creator and actually one of the Qt creator guys came up to me he can't attend this talk but he said well I really want to help out so we we should we should get in contact with them and get your creator to be nicely integrated with that so the past was what what I aim to do with the original new build system eight years ago and this ID ease stuff is just like a nice additional feature and there were like the ideas to maybe after eight years we should again use a new build system just cause and well I felt like the old Unix guy that said no not with me but there's this thing if you work too long on something that maybe maybe you are not entirely well neutral in on this so when I when I said well you should never look at this and I looked the next thing I did was look actually how much of this build system was actually done by me and hey good news although I brought the original stuff there are other guys who do own a lot more lines of it by now than me so it's it's not mine anymore great David Michael congratulations you own this thing now so again and also the distribution of country so this is the lines of code and who last touched them and it's pretty even distributed and there are a lot of people touching lots of areas there so looking forward in to using something completely different these were the original problems we tried to solve with with eight years ago when we did this some of the stuff creep back in I think cargo code programming is already in the make files is again on the rise because well it's been eight years and stuff collected in there but in general the other stuff is mostly reached and I would add one more thing the two that I that I spoke about do not repeat yourself and don't do Tim tov TDI and that's one of the main arguments against something like let's let's use visual studio directly then like export that to somewhere else there's more than one way to do it so again I'm kind of reluctant to use something like visual studio solutions directly and then have to maintain different build systems on all platforms because that will always break and there's more than one truth to the build so someone does something on windows and then he changed the solution files but not the stuff for the other platforms and stuff like that so that that unless you find a way to synchronize all this is really tricky the other challenges so I think we we should stay with with something that is one single build system whatever that is and well the the other stuff like having auto-generated intermediates who here uses automake and auto conf and loves it you're loving it okay we gotta talk the other stuff is well custom targets like again this is having more custom stuff in in the build targets which is not like the usual cross-platform stuff and the degrees of freedom in oh great later uh-huh right so we have way too much degrees of freedom in the configuration especially on windows where there should be pretty much only one mostly and so we that's a goal again to to get away from the build system and that means for example well the the candidates for this are obviously CMake or maybe use use scheme in in make as a migration path but the the advantage there is not to rewrite everything from scratch again but to softly migrate to it but the the most interesting issue probably is the build execution because ninja is a lot faster than what we have now because make is just awfully slow parsing all the dependency files that we have which are just huge yeah yeah yeah I'm mostly agree but I'm I mean I want to fight against my inner inner feeling that everything is fine so yeah but if I if I look at all these if I look at all these things probably ninja is the first most useful things of trying to attack within these rather than the other yes so the externals are actually yeah yeah interesting all right yeah anyone else but Norbert having questions yes well this it it there is somewhere deep inside is something that is generally usable but you you will have trouble finding it if you're not knowing about LibreOffice because there are these things like these multiple layers of where to put libraries and stuff that we are actually not using that much anymore but they are still in there I think Miklosh once did an experiment to just get the build system out of LibreOffice and then try to to get rid of all the LibreOffice specific stuff so it was just one huge build system that built hello world but yeah also there are lots of optimizations that you you probably only need if you're as big as LibreOffice like pre-compiled headers and windows having all this parallelization and right so stuff like that and having for example GCC creates the dependency files those are huge they're too huge to be just well normally you would just use all of them pass all of them and be fine well that that doesn't work for LibreOffice so we are taking all these dependency files and pre-passing them and kicking out all the stuff that is actually superficial and stuff like that so if your project doesn't need 20 minutes on a 32 core machine right so you absolutely invited to look into the stuff and it's luckily not only me who knows about how this stuff works which is good and well few three two two to take a look at it looking forward for contributions yeah so again in the comparison to the old build system the most important thing was not even the speed that was also important but more important was getting rid of all the craft that was in the old stuff that collected over 20 years yeah right the partial build meaning that you touched one file and says it would do an incremental building actually would work because that didn't work in the old open-office build system you would touch one file and everything would be broken most most of the time okay I think I'm over time already yes thank you


After growing up in Greece, Vicky Caramida came to Purdue for its top-rated engineering programs. She used her environmental engineering degree to launch a very successful consulting firm in Indianapolis. I'm Vicky Caramida and I'm the founder and CEO of Caramida Inc. I'm also the Chief Technical Officer of the company. Caramida is an international engineering and consulting firm. We focus on environmental, health and safety, remediation and sustainability services. We are over 100 people and we have offices from New York to California. I'm originally from Greece and somehow persuaded my parents to send me to study engineering in the US. I did my research and Purdue was ranked number one in environmental engineering. I had no idea where it was or what it was other than it was very good. I met the love of my life and I married him. He's from Indiana. He's a Hoosier so he became a Hoosier by choice. Because of the professors that I had at Purdue and especially my major professor, I chose to go into consulting. My major professor, Professor James Hetzel, was really doing a lot of consulting at the time and he would really teach us how to be good consultants but most importantly how to be advisors and really problem solvers for our clients. I find myself having a unique benefit out of the critical way of thinking that we were taught to develop. Based on those two things, I made the giant leap to start my own company which was very unusual at the time. In the late 80s, there were very few consulting companies. I think Purdue gave us the confidence that we could do anything we wanted. The biggest footprint really is the legacy of my company and the legacy of the various professionals that I have mentored all my professional life and I continue to mentor. I think that legacy is going to live a long time. That was Vicki Caramita. Look for more stories at purdue.edu.com.


فسألوا أهل الذكري إن كنتم لا تعلمون الحمد لله رب العالمين والعاقبة للمتقين ولا عدوان إلا على الظالمين وأصلي وأسلم على منبعث رحمة للعالمين سيدنا والنبينا محمد وعلى آله وصحبه ومن تبقهم بإحسان إلى يوم الدين أما بعد أخبرت بشكل بغيار إذا خطبة سورة أخبرت بشكل بغيار من العربية ما هو حماية حماية هذا؟ فعلا أساء الله هو كما تفهم first of all the people of knowledge أهل العلم رحمة هم الله جميعا مي الله بيطلق مع كلهم they have differed regarding the rolling من خطبه في لانوج أخر than the Arabic language they differ and they stand or the stance regarding this matter is of three views the first view which is أرأي العول they condition that the Arabic the خطبه to be in the Arabic language and that it's a condition it has to be and this is the view of إمامه مالك رحمه الله وإمامه الشافعي رحمه الله and they use the حديث الصحيح البخاري on the authority of مالك ابن الحويرث رضي الله تعالى عنه that the messenger صلى الله عليه وسلم has said صلو كما رأيت موني أصلي pray the way you see me pray so they said that the messenger صلى الله عليه وسلم and when he used to do the خطبه he used to do it in the Arabic language and so we have to follow him عليه الصلاة والسلام and that the أذكار is توقيفية that the أذكار the remembrance of Allah is a matter you need an evidence in order to do it it's like reciting the Qur'an they also used an evidence by saying that and the Qur'an ولا يترجمو ولا يترجمو the Qur'an is not recited nor is it translated ترجمة الحرفية word for word translation cannot be done so they said the same way as the خطبه خطبه takes that rolling that is the first view and it's the view of إمامه مالك and إمامه شافعي the second view is that خطبه تصحب كل لغة that the خطبه can be done in any language and this is the مدهب of أبو حنيفه رحمه الله and he used the evidence they based the view on this الله سبحانه وتعالى سبيت وما أرسلنا من رسوله we have not sent a messenger إلا بلسان قومه except in the language of the people of the people he came to why ليوبين لهم so he can clarify the matter to them so ليوبين لهم means what يعني لغتهم he was sent to them in the language and we all know a balagh conveying a message to a people or educating a people cannot be done إلا بلغة المخاطبين except in the language of the ones who have been addressed so that is the second view the third view is they said the matter needs to be broken down it's not a yes like that and it's not a no just like that they are down and their conditions have to be put to it so what was their condition there are two views regarding the second the second they took two stars some of them the third sorry the third view they took two stars regarding what type of what type of conditioning is put to it they said that we look at the the person who is doing the that's the first view in the second view they said we look at the the person who is doing the if he knows the Arabic language he has to do the he has to do it in the Arabic language if he doesn't if he doesn't know the Arabic language then they say that it's allowed for him to do it in a language other than the what other than the Arabic language that's the first view and that's the view of the second within the third view is the ones that are observed the people the scenario that is looked at or the observation goes not towards the خطيب the خطيب the ones that is doing the is not looked at who is looked at the مستمعون the listeners we look at whether they understand the Arabic language or not and the evidence that they used is the آية which the حنف is used which is وَمَا أَرْسَلَّا مِنْ رَسُولِنْ إِلَّا بِلِسَانِ قَوْمِهِ it goes to the قوم the people ليُمَيِّنَ لَهُمْ to clarify and it seems that it seems like والله علم الله knows best that this view is the strongest the last mentioned one which is that the listeners are observed the people who come to the congregation we look at if the people who are coming to the sermon are people who know the Arabic language then it's done in the Arabic language if the people do not know the Arabic language they do not know the Arabic language what do we do we do it in the language in which they know so pay attention here it's a matter I need to put in perspective for you all which is what if the people know the Arabic language the خودبة is done in the Arabic language the matter is saved what about if within the listeners there are people who know Arabic and they are the largest number and there are people who don't know the Arabic language who are in the crowd what does the ruling become then now we say if the majority are the ones who understand the Arabic language then the خودبة should be done in the Arabic language the question is what about the ones who don't know understand the Arabic language what is for them what rulings do they take the ruling that they take إن شاء الله is the خودبة is translated for them and it can happen in three ways the way that the خودبة is translated for the people who don't understand the Arabic language which is what the خودة ترجمة the translation of the خودبة is done in Arabic language the translation of the خودبة is done after the خودبة and the صلاة after the صلاة is prayed then the ترجمة the explanation is put to them فهذا جائز that is permissible but there is no problem with that the second way is what and some of the scholars they said it they said لهم الخودبة في أوراق it's put to them inside a paper they give it a paper in the خودبة and they read it while تخطيب is doing it خودبة they read and that's also not a problem the third one is what الخودبة تسجل that the خودبة is recorded okay and whilst تخطيب is doing the خودبة a تسجيل a recording is put in their language in which they can understand and is put into their ears and they listen to it whilst تخطيب is talking this is also permissible some people may wonder and say how is that possible that whilst خودبة is going on some may say it is not right it is not right for these people to be doing these actions the حنابلة and the شافعية they mention that a person who cannot hear the خودبة of the إيمام who is doing the خودبة because he is awesome he is deaf or he is far from the إيمام and the إيمام does not have a microphone because at that time they did not have it so the people cannot hear the خودبة properly the حنابلة and the شافعية state it is permissible for that person who is deaf who can't hear and that person who is far from the إيمام who also can't hear the إيمام to do ذكر and send salutation on the message or read Quran or read a book of fiq or a knowledge based book because he is unable to hear the خطيب talking the same can be used for a person who is a foreigner who doesn't understand the Arabic language and if the خطيب was to talk to him he is like a deaf person who doesn't understand what the خطيب wants from him in that case it is permissible for him to busy himself by reading the explained version of the خودبة or the خودبة recorded and whilst the خطيب is talking is being translated spontaneously or for it to be done after the صلاة is prayed and the evidence that they use for this issue is that the messenger and the حديث and the حديث إيمام محمد narrated in his to say it is permissible to do this is that the messenger said إذا سمعتم إذا سمعت إيمامك if you hear if you hear your إيمام يتكلم talking فأنصت حتى يفرق be quiet until he leaves the خودبة the prophet conditioned where if you hear the خطيب the imam talking if you can't hear the imam فهذا قيد وهذا لا يسمعوا الكلام this one can't hear the speech of the خطيب or he can't but he doesn't understand what the خطيب is talking to him as a conclusion I want to mention as well that the actions that are done whilst the خودبة are going that are taking place the خودبة is going on are two times the actions that can occur from a person whilst the خطيب is doing a خودبة is two times the first one is the action which is based with مصلاحة good isn't it the one that we just mentioned now which is a مصلاحة for him to understand the خودبة that is going on وهذا جائز لا بأسبي the second one is ولي غيري مصلاحة an action there's no مصلاحة in it ولي غيري حاجة and there's no need for it فإن هذا لا يجوز with this one that is not permissible but the first one is an action which there's a مصلاحة there's a حاجة in it there's no problem for the person to do those actions whilst the خودبة is going on we conclude there insha'Allah سبحانك اللهم بحمدك أشهد أن لا إله إلا الله أستغفركاته


First off, I'd like to say thanks for having me here today and again, apologies for the technical difficulties here, but we'll get through it. So I'm going to go here today and talk about my big option strategies, which comes down to the butterfly and the long condors. So sound is low. Okay, I'm trying to talk as loud as I can. I'll try to keep it as loud as I can here. Okay, so we're going to talk about butterflies and long condors. And now can you hear me better now? Very faint. Now, can you hear me better now? Mic test, mic test, mic test. Oh, okay, good. So I put you on a speakerphone so it seems to be working. All right, so let's get going. So, you know, the following webinar presentation here is just pretty educational, any stocks, options, futures, ETFs mentioned does not constitute advice and not considerate as a recommendation. So when I was, you know, looking at different option trading strategies and strategies in general, to me, what really comes up is, and really turned my trade around, is knowing how to use and take advantage of time decay and volatility collapse. And so there are a number of different option strategies that really take advantage of these two main pricing components. Now, you know, so when I was thinking about the go-to type strategies, more than anything else, I was always come back to the butterfly, the long condor option spread. So they have a huge advantage over other strategies because of their unique trading time frames and their unique structure of this particular, these two types of strategies.  So that's the other thing that I really like about these option strategies that the capital at risk is very, very low. Now, when you look at using butterflies and long condors, they're very, very dynamic and can be traded for a variety of different reasons with different goals in mind. So in other words, you can learn how to trade butterflies and long condors, and you're going to be covered for both your offense and defense. So goals and protection. So when I say that defense is almost as important as offense and trading, you know, to protect and manage your risk. Now, these types of strategies, they can work no matter what. They can work in an upmarket, down sideways market. They can really help provide you income from stocks that are going nowhere. They will help eliminate the stress of having to be perfect on a stock's direction or overall market movement. Helps to eliminate time decay expense that we all are going to experience when we're long options, that decaying long options. Also, it really helps to take the unsettling guesswork out of your trading. And these types of strategies can be structured for very low cost, okay? So putting up low capital at risk, and you'll see that in a little bit, I'll show you, they can be structured for a 10 or one higher reward to risk type of positive ratios. So they're a really ideal strategy for a lot of different kind of market conditions. Now, the butterflies and the long condors, they're very flexible as well. As you'll see ahead, I want to show you some examples. And once you learn the fundamental setups, you're going to be then able to adapt these option strategies for both your goals and your market insights. So you can structure these as kind of just a Delta neutral type trade strategy where you don't really need the market to go anywhere. But to me, the real beauty is that they can also be used for directional trading. And really, you know, trading does come down to primarily direction. So what these strategies can do, they can offer you either bullish or bearish type exposure to the market, you know, when you feel pretty good about a certain market direction. But if you're wrong, this type of butterfly and long condors, they can really help you to manage your trading risk, but at the same time retaining large potential returns. And that's always a win-win solution, you know, for your trading. Now, let's be real though, you know, when you're using these types of strategies, they're going to be offering you not unlimited profit potential, but they're usually going to cost you a lot less than if you're just buying outright options such as calls or puts. And they're going to give you a really amazing risk reward trade setup. So this means that the butterflies and long condors can significantly increase the probability of your winning trades while also at the same time reducing your risk. And that's what it's really all about. So with my trading, my setups that I offer clients and members, I'm always looking to reduce risk and keep risk as low as possible. And these two strategies are ideal for that. Now, the other great thing about these two strategies are that when you mess up and you're going to mess up in trading, unfortunately, they can be used as a fast, low-cost way to cover your, you know what, when your position moves against you. So by constructing either a butterfly or a long condor around a strike that is under pressure from another core trade that you might have on such as if you have a credit spread or debit spread and it's starting to go against you, this becomes a great way to immediately neutralize and control your risk, which then allows you a lot of times for me anyway to control and better control and reduce my trading stress. Now, here's the ideal situation. It's the best strategy I've found for hedging. So when you keep the original, your original position open by just implementing either a butterfly or long condor hedge against that position. So what this strategy does, it takes advantage of that pricing component of options, time decay. So while you're waiting out maybe the market to stabilize and go back in the same direction as your original trade, that time decay component is working in your favor. And a lot of times, you know, all you need is a little bit more time for your trade to stabilize and then move back and then you just take off your hedge, stick with your original trade. And the beauty of it is that the time decay component, a lot of times will actually, you know, give you additional profit, which you can then use to adjust down your original trade costs. And it works quite well.  You can see my pointer.  So you might be long a call here, and then you're short a call right there. All right. So in this particular slide example, your risk is $300 right here. So, you know, still a pretty nice fine risk trade, but you never want to lose your max at risk. So one way to hedge this quickly is to do this. You just sell a credit spread against it, sharing the same shortstrike as your call, in that example, call debit spread. And in this example, you can see you're bringing in $200 credit.  And you've reduced your risk from the $300 on the call original debit spread to $100, but you still had this, what we call this profits on this tent. And if at expiration, you were to close up the top of the tent, your, your potential profit on your maximum at risk is fantastic. So it gives you a really good zone of profit and it is a great way to neutralize and minimize risk quickly, which is what I like about it. Now the long condor is very similar to the butterfly. The difference is here is that you're going to not have the same short strike where my, my pointer is right here as which would be with the butterfly, but you're going to spread it out. So you're going to move your short strikes out one or two or three strikes. And then you've got this wider zone or wider window for potential profit, but it's the same concept. So you'd be long here, for example, a call debit spread, and then short against it a bear call credit spread, or it could be a using put. So you could be long a put debit spread and then short a bull put credit spread. So this is a great way to get real low risk trade setups, but also a great way to hedge. So the core concept, what makes these type strategies work is, again, it comes down to the option pricing components, which the main one comes down to time decay, all right, or data. So by understanding the concept of time and data and pricing and the effects that they have on the price of an option, it really lets you understand how to use these types of options strategies to your benefit. So let's take a look at these core concepts. Now, when we look at options, data is what tells us how much an option price will go down over time. And that's the rate of time decay of your stock or your securities option.  So it's a decaying asset, and it goes to zero, you know, at expiration. Now, when we look at using this to our favor, it's under, it's good to understand the characteristics of the option data. So you're going to either have a positive characteristic or negative. So when you look at long stock options, such as if you're long a call or if you're long a put, they're going to have a negative data value. And that's going to indicate that they're going to actually lose value each and every day as expiration draws near.  So that's a negative data characteristic. On the other side of that, those, if you're short those options, such as short a call, short a put, then those are going to have positive data decay. And that's going to actually help your position each and every day, even if the market goes sideways. And so that's what we were taking advantage of, you know, by using a condor or a butterfly. So here are the two constructions of these. So here's the on the left is your butterfly. And then on the right is the call. This could be a condor using calls or puts. But it's a great way to get a low risk trade. You can establish this as a spread to start out with or you can leg into this creating a the structure for hedging then to reduce risk. So for example, here, the famous company XYZ is trading at $45 and you're looking at this to move directionally to the downside. So we're targeting say $43 in this example. So here's what you would do is if you wanted to construct a butterfly for very low risk trade for a downside target to $43. So in this example, you'd buy one contract of the April 42 call and that costs you $2.38. So that'd be $238 for one contract. And then you're going to sell to open one contract of the $43 call, get $1.67. And then you're going to sell another $43 call, bring in another $1.67 and then buy the $44 call above it for $106. So you're totally capped, your trade, your risk is capped. And you've just constructed a butterfly. So the body is right here where you're short those two strikes on the $43. So that's called the body of the butterfly.  So those are your wings. That's how it gets us name. So if you look at this construction here, the net debit would be your $42 call at $2.38. And then the $44 call at $1.06. All right. So then less your two calls that you sold at $43, the $43 calls and you received a $1.67 times 100. So at risk right on this option example is $10. So that's your maximum exposure on the trade up or down. Now your profit will be taking that middle strike, the $43 call in this example, less your lower strike $42. So it's a dollar-wide spread. So you can see here $43 minus $42 equals $10. And minus your cost of your spread right here, $0.10 times equals $90 times 100 to convert it to an option spread. So your potential theoretical profit on this example is $90 and your risk is only $10. So huge potential there on the trade, very low risk. And if this was to pin exactly at $43 at expiration, you would keep that $90 and that would be a 90, 900% return. So 901 positive risk ratio. And that's the beauty of it. You can do these wide, you can narrow, you know, do narrow spreads and really control your risk, but to give yourself some potential for some huge return on very low capital, but at risk. So let's take a look at the various different types of butterflies. And then I'll go through some examples to show you how they work. Now, in my opinion, also one major goal for every trader is that you want to select trades that are based on what's going to provide you the most positive and consistent returns with low defined risk and not always the greatest return. And one of the best ways to achieve this is by being aware of the different option strategies that are out there and available to you, then understanding how they work and then selecting the one that's going to be best suited for, you know, your trading, you know, profile in the market you're trading in. So let's take a look at a few of the different types of butterflies. Now, this is kind of what I call the family of the butterfly, the butterfly family. You've got a number of different variations to the butterfly spread. So you've got a long, you can use long calls or butterfly spread. You can do what we call broken wing or skip strike butterfly using calls and puts. You can do what I call the ninja butterfly, which is an unbalanced ratio butterfly. You can do really wide wing butterflies, iron butterflies. And the big thing that I love about butterflies is hedging. Okay. And we'll go through how that works. And then also that long condor is very similar to the butterfly, just separates your short strikes. So these are really great strategies to incorporate for low risk trade setups with high return, but also the biggest advantage that they offer is defending your trades. So let's take a look at a few examples here. You'll see how they work, can really benefit your trading. Now, here's just your balanced butterfly here. And we're going to look at a balanced butterfly spread on SPY, the ETF. And these are great for ETFs. They're great for index funds or anything. So here in this example, it's a directional trade setup. And we're looking at SPY here to, it was trading at 267, right about in here where my pointer is. And we were looking for a move up to this Fibonacci level here, the 618 retracement level right there, about 273. So we were worried at that point in time that the market could, you know, it looked like potentially to move up, but it could just kind of roll back over. So we wanted a real low risk trade, again, targeting this area here, that 618 retracement at 273, 274. So here was a butterfly spread that was set up to take advantage of the potential for a bigger reward, but on low risk. So in this trade example, SPY was trading at 273, and excuse me, 267, and we were trading 273. So this was buying the 272 call, right where my pointer is, selling the 273 call. So if you look at that, that'd be a call debit spread, and then selling the 273 call again, and buying the 274. So there's your bear call credit spread. So now you've got a butterfly. Your wings are at 272 and 274, and the body's 273. So here's the construction was done for here, $10 for 10 cents. You look down here. So your debit is your at risk, 10 cents. It's a dollar-wide spread. You can see 272, 273, 74. So the spread between each strike is a dollar. So that would be $100 less your cost of your spread. So your max theoretical profit then would be $90, or that would be a 900% return on your at risk. Now this spread actually went out at expiration with a profit of 70 per spread, which is a fantastic return on your capital of $10. So that's a 700% return. So here's what the, this is what the risk profile of it, and you see inside that tent, you can see where the arrow is. This is where it was trading going into the close right there at 273. So almost nailed it perfectly on direction. Now, based on that, the cost was 10 cents down here. You can see my arrow, and it went out going out at 80 cents debit. So that went from a 10 cent debit to 80. So there's your profit of 70, and that your risk is just $10. So, you know, four contracts was over $280 on that very, very low risk trade setup. Now, here's another butterfly, but this is going to make it, we can control the amount of potential profit by the width of the spread. So this is what, but I call it kind of a wide wing butterfly. And again, this is on SPY, the ETF. So in this one, again, it's a target trade. We were looking for, you know, we were looking for it to move up to 275, right in here where my pointer is right there. And that was a major moving average area. And so we were looking to do this with the butterfly as well into that, that's a 200 day moving average. So the kind of the trade setup was that, okay, we're going to target that to go out at expiration. That's a great target, because that's such a huge resistance area. So for this spread, we did a butterfly, and this one is $5 wise, you can see 270, 275, 280. So here's your body too short at the 270, then you're on the 270 and 80. All right, so this was done for a risk maximum debit cost of $1, $6 or $106. All right, so you can see down here $106 from my pointer is and $5 wide spread. So the difference would be, you know, your max spread width is 500 minus your at risk. So theoretically, if this went out exactly at 275 at expiration, you make $394. And that would be a 371% return or 3.7 to one possible risk ratio. Now, you know, I'm never looking to make make that perfect, you know, maximum going out, but if just think about it, if you can make 30, 40, 50% of that, you're still doing really great. And so this went out, you know, going into expiration with a $209 per spread profit, and that was 197% return on your capital risk of 106. So let's take a look at the risk profile. We can see it right here. So it's going out right there, right there at 276.60. And so at that, so that's not perfectly in the middle of it, 10, but it's still, you can see how wide that butterfly is. So it gives you a really good profit zone. So the going out there was it went from $1.6 debit to $315. So there's your $209 per spread. That's the wide wing butterfly. But again, your risk is very, very low on these. So they're a great risk-reward type of setup. Now the next one that I'll show you is a really cool butterfly. And this is what we call the unbalanced or ratio butterfly. And again, this will be on the examples on QQQ, the ETF. And what the unbalanced butterfly is, it's just a variation of a rep or balanced butterfly. But what it does is it adds an additional short vertical credit spread to shape the direction of the trade. So what you end up with is two in the money credit spreads protected by a slightly narrower, closer to the money debit spread. So it creates a really low defined risk directional strategy with a very, very great positive risk reward ratio and also takes advantage of time decay and also volatility collapse. So this is an example here on QQQ. Now we're looking for a push up. So we're adding that additional credit spread. So we're going to use puts. So if you, how do you go long options, you can either buy calls or sell puts. So by adding an additional bull put credit spread, this shapes this directionally to the upside. So in this example, QQQ was trading at right here about $160 right in here where my pointer is. And again, we were looking for target up here to this Fibonacci level right here about $166.65, $165. And there's also a lot of unusual option to activity here, which gave it a good target to trade to. So instead of doing a balanced butterfly, we did this ratio butterfly because if you did a balanced butterfly here and it went straight up, you could still lose. But the ratio butterfly you would actually make money. So I'll show you how this works. So here's an upside ratio put butterfly. So we're using puts for that upside direction. QQQ was trading at $160. We were targeting $165. So the construction would be then buying a $166 put on the $165. So that's a long demonstrate. So that's kind of the bearish component. And then the other part is selling two $165 puts and buy one two $164. So here's your bull put credit spread. So bullish. So I'm just breaking this down so you can see the construction. But when you do this together, you can do this as one spread. This creates a ratio butterfly. So you can see here's one by two. So you've got more contracts of the short bull put credit spread. So that shapes your direction up. So when you put that together, it creates a really unique strategy, the ratio butterfly. And you can really control your risk but have multiple points for profit. So here again, it was trade at $160. We were looking for that target to $165. So constructed down here, you can see my pointer. We did the $166 put, bought that, sold the $165 and then sold two more, $165, $164 bull put credit spread. So you can see the ratio here, one by three by two. So if you did contracts, you'd be 10 long, 30 short, 20 long. So this was done for a 50 cent credit. So you're bringing $57 credit and if this was to blast right through $166, you still keep the credit of $57. Now your risk is the difference. It's a dollar-wide spread. So a very, very controlled risk. Your maximum then lost would be $43. If it went out exactly at $165, you'd make $157. So it's got great profit potential and the risk is super low. So this particular spread went out making $136 per spread going into expiration and that on your risk of $43 is a 316% return. Now if it blew straight above $166, you'd still keep your credit of $57 and that still would be at over 100% return. So in certain markets, these are a great strategy and so here's what it looks like when you look at the risk profile. So it's going out almost right there at our target and so that went from a 57 cent credit down below where my pointer is to 79 cent debit. So it totally flipped and so there's your $136 per spread and on your risk of $43, that's a 316% return. So it takes advantage of time decay, that volatility collapse and high return on capital and that little bitty black area is what's left of time decay and volatility going into expiration. So that's the key to this spread is that those both go to zero and that's what we're taking advantage of. Now here's an example, one example of a long condor and this is a great way to also do really low risk trades or to hedge. So I'm going to show you one that was converted to a condor. So this was originally set up as a debit spread so short trade again using the S&P SPY and then it was converted to a long put condor and converted into a free trade. So this is the other cool thing about this strategy. So when we start out with trade one here is a short trade SPY was trading right here at about $275 and we were looking for a downside move and we were targeting the $618 for trades and again I like to use Fibonacci for targets and so we're targeting $270 so the trade setup was to do a put debit spread targeting $270 but with the potential to go through it and maybe we could convert this to I always like to think a couple steps ahead. So we're thinking okay if it drops down here maybe we could convert it to a butterfly or a condor and then if it pops back up just be a great way to play it. So here's what happened trade one was just buying a 273 put selling the 270 all right so put debit spread three dollar wide $65 was the cost of very low risk trade to begin with and so the max potential profit three dollar wide spread less 65 would be $235 per spread that's a great return there alone of over 300 percent. Now it dropped down on the 29th and so it took some profit and took it off at 98 cents a partial profit so that's a return of 150 percent when it was trading at 271 but instead of taking the whole trade off converted part of it to a put condor so here's how that worked so when it dropped down to that 271 270 area sold 268 put bought the 265 so bull put credit spread so right here 268 265 and brought in $65 credit all right so total credit received 65 and then that totally offset the 65 at risk from the debit spread and now you've got this trade three you've converted and made what we call a a put condor so here you're long the 273 put short to 270 and then when it dropped down sold the 268 put bought the 265 so now look at that wide profit zone okay huge window but the risk on this trade now it's gone to zero because you covered that debit cost originally so now you've got pretty much a free trade and this went out trading right here at 271 33 and at that point in time into expiration that was under $64 per spread on zero risk so if it'd gone out between the short strikes right in here the max profit would have been 300 but it's a great strategy and you still so many different things with it so you know that's what you ended up with a zero risk for potential profit of up to $300 so trade one on this you know the debit put debit spread made 98 but by converting the other part that that increased your profit to 164 and zero risk so so many different things you can do once you understand the fundamentals of these vertical option spreads so if you'd like to learn more I've got a really great offer here for everybody today and this is a condor butterfly condor course that I did not too long ago and so it's all recorded it's a five hour plus workshop everything's broken down in 30 minute modules and it's for everybody here today it's just $97 if you use this link here powercycle trading dot com four slash bf c o n one and let me see if I can get that link in there I've had so many problems here but let me go through I'll show you everything you'll get also it's a great bonuses here so let me see the link if I can get that in there for you should be in there yeah so here it's already there if you look on your offer link if you just click on that you can sign up for it's a and it's a $97 and you're going to get all these different bonuses that you'll see here okay so you're going to get the live course this is on my website for $297 we'll do a follow-up Q&A too in about a week or two so you'll get an email link for that you'll get my option trading tutorial that's another nice bonus that you'll get with this you'll get my option strategy manifesto and my power tool guide on on the Greek so you're going to get all this really great valuable stuff for just $97 today and so use that link that I think you're seeing on the offer component here for the webinar jam or you can just type in powercycletrading.com forward slash b f c o n one all small cap now this course covers everything you'll need to know about butterflies so it starts out just doing a really good review of the Greeks that are needed how theta decay impacts the butterfly how volatility impacts the butterfly and long condor and you know the effects of those those have on pricing so if you're even a beginner trader I always like to start out any of these courses with a good kind of overview summary of the Greeks and option pricing so it starts out with that in part one and then part two goes through all these different butterflies every one of them in detail how they're used when to use them and why so you'll learn you know the core basics that most people don't understand about butterflies and long condors and also have the strangle in this in this particular course which is another pretty unique strategy so you're going to learn the butterfly and long condor spread foundation which is you know around vertical option spreads and then how why and when to use a long call or put butterfly that broken wing butterfly ratio butterfly a broken wing ratio butterfly wide wing butterfly iron butterfly long condor so you'll go through in this course and learn all these different butterflies the whole family and so they're in great details of five plus hour course and then you'll learn what are the optimal times to put them on so you you know you put these on you know 10 days out 15 etc and then how you can set these up to make you know 10 to 1 or higher return on your capital as low as maybe $10 you know you saw that one example and then how do you profit from that volatility collapse and theta decay using these two strategies the best way to utilize long condor which is this is probably one of my favorite strategies in general because there's so many things you can do just from an outright low risk trade to hedging and then also have a chapter in this course on option strangle strategy so that's a really selective type of strategy for kind of the non directional trade when you think something major is going to happen which will explode the market up or down so it's a really great way to take advantage of a certain event that might happen and so this part part of the course goes in how wide when to use this triangle and then part three is another really great thing with the butterfly strategy is this can give you 12 different times a year you can use it monthly for monthly option expiration so on a monthly option expiration you've got a huge amount of institutional buying and selling and so the markets are trying to pin at a certain strike price at expiration and this is a great strategy to take advantage of what we call pinning and so you can do these types of setups for very low risk but they give you a very very big return if you get the pin right so we'll go through in the course and I'll show you how to target you know these strikes for option expiration then using the butterfly or long condor to trade against those potential strikes for expiration and so a lot of times what we'll do is we'll use unusual option activity in Fibonacci so it will go through how that's done in this course as well and then you'll get a step-by-step checklist of when to put it on the butterfly condor take off execution rich management and the biggest part the biggest takeaway is to learn how to use these for hedging so how to use the butterfly and the long condor to hedge any of your core positions and then how to also defend any vertical spread so you could have a vertical credit spread that needs defense or vertical debit spread and so this shows you how to mix and match these vertical spreads to defend the trade and reduce risk and then you'll get a resource library here with you know what happens if you get exercise etc and you'll get also a nice library of these types of trades so it's a very extensive course and it'll it'll really give you a new element to your trading and the biggest takeaway will be for for hedging is the best way that you'll find to hedge your positions going against you so you know little feedback said larry you've been awesome with great content valuable information precisely to the point great teacher and better best butterfly course too so appreciate that and so bonus one you'll get a live follow-up q&a which will also be recorded this will be probably about two weeks you'll get a link for that you'll get my option trading tutorial so 60 page option guide with videos on the greeks you'll get my 15 option strategy guide so some really great option strategies risk profile all laid out for you what they are you print this out put on your desktop and then bonus for my greeks so you'll get this as a desktop you can print it out so what is delta theta gamma you know so you'll have that you can refer back to it if you're like stuck on oh i forgot what that is you know so it'll be a nice print out for you and then one last bonus surprise if you've never been a member to our trading club of our trading club you'll get a 30 day free trial and then if you continue on it's 97 dollars a month after that so a lot of great stuff here for everybody that tend to appreciate everybody taking some time to be here today and with our trading club we have a trading room open each and every day first hour of the day i'm in last hour we do a do daily market video updates every night on what the markets are doing what trade setups we're looking at we've got a member's trading video archive of all these weekly q&a every week and these are all recorded educational involved and then anything on our site as if you're a member you get 60% off on everything on our site all our trading software and all of our courses so a super great offer here hopefully everybody will take advantage of it and learn how to use these specific strategies for profits but also the biggest takeaway you'll find is how to use them for your hedging and you'll you'll be really really happy for that and so that's pretty much it and again sorry for the the problems here earlier but hopefully everybody was able to kind of fall along here and get the general overview of these two strategies and how beneficial they can really be Larry so um let me just take over from here and uh once again apologize for that bit late delay for Larry and uh once again you got his little promo there for 97 dollars I told you everybody here uh at Cybertrain University when we're doing hosting these events we got some great presenters they got some great deals you guys always want to learn about butterflies I mean listen Larry's the guy that that basically teaches better than anyone else so go on take advantage of it what do you have to lose 97 dollars I mean look at all those bonuses that he's throwing in there with between five hours of recordings the options trading tutorial the green power tool guide all that good stuff from 788 only down 97 so go out and just try it out you got the link up there so I'm going to give you guys about five minutes and then I'm going to come on and take over from there I'm going to talk about the smart money exposed why you need level three to beat the best traders on Wall Street so um so just stick around don't go anywhere in the meantime give you some time to register for it uh for Larry's promotion and uh we'll be back in less than two minutes don't go anywhere thanks Larry for coming here and uh see you next time


Polymorphism is one of the other pillars of object-oriented programming. Poly means many forms. Morph is change. So you can change into many forms. So there are two types of polymorphism in object-oriented programming. One type is what we call this method overload. This is by having this kind of property. You have the same function name and different signature. Signature means like the parameters. So in Python, it does not have this feature by default. If you want to create yourself, you can. It's a little bit difficult to do it, but it can be done. It's not as efficient. And the reason why is because, you know, it's a loosely tab language. It's a dynamic tab language. You cannot have a unique signature. But you need signature. That means something like this. So if I have a function called, say, hi. This one here has no parameter. I have another function called say hi. Same name, different signature. See, I had three functions in here. So same name, different signatures. This will work in Java and C-sharp and so forth. Python and JavaScript, no. Because, you know, the number of parameters, they have to be of different type. So it is like an integer. And if I have here like a B, and B could be a string. Well, it doesn't matter because, you know, in Python, it can be an integer or any type, same thing would be. So therefore, they are not unique, right? Unique, maybe unique data type. If you put this way, then yeah, it's really unique because I have one argument versus two. Well, we just, I just showed you that there is an argument called, sorry. And we'll take any size of arguments. As you can see how they can be a problem, right? So it doesn't work. So just so you can see, same function, different arguments, then that is called a method overload. You're overloading that method. And how do you know which one to use is dependent on when you call it? Like, say hi. If I don't pass anything to that function, then I'm calling this one here. If I pass only one argument, it's going to call this. If I pass, you know, two and then so on, right? That's the idea behind overloading a method. And usually over the methods here, these methods or functions must be inside the same class. So all of these, for example, if you're all inside the same class here, then, you know, they will be considered as. Might be overload, but of course, it doesn't work in Python this way. So I'm just showing you what it will look like, but it doesn't work. Okay. I mean, it will still work. I'm not saying that it would error out. The only thing is that if you do this way, Python will only call the last one. If you have 10 of them, even though they are, you know, code differently, Python only calls the last one you find. Okay, so you would know all these here. So that is method overload. We're not going to do any method overloading in Python, not efficient in here. So put here is like none by default. Okay. So I thought it doesn't have the other type which will use is called method override. Okay, this one here. Same at the name. Same signature. And here, same method must exist. And both parents and child classes. Okay, so you can see that overload here. You can also see must be in same class only. Okay, that is usually the way how method overload works. They must be the same class here overriding. One must be in the parent. One must be in the child class. Like I showed you earlier about this function here and the object class. So this is a function called under under rep and under string. These are method methods that I'm overriding because I can change the way that the pen, you know, uses its own implementation. So I'm overriding the parents function. That's what it means. Here. And we will do that. And this example. So here's the path class is super class. I'm going to define a function. Let's call it talk, I guess. Okay. I'll put here just some Jewish. If the animal is not a dog work that you will talk something like that. So in this case, if I try to access both of these cat and dog. They don't have the function called talk, but the parent has it. So therefore they can access this function here. I'm going to run it now. Okay, if I try to go and dog. Talk. You see that your points that cat that talk. It doesn't send the same thing right. But dog we know that dog bark and the cat nails. Right. So that is a perfect example of a method override. I can override the function here inside the dog class. And here I will copy the exact same one, and it has to be exactly same one. Okay, same name, a different implementation. Right. That's a dog. And the same for the cat I copy this and put inside the cat class down here. And this would be like me on. Okay. Let's say this run. Right. So I do dog talk. It uses its internal function and not depends function talk. It's the same thing with cat. Okay, if I have a pet down here. Let's copy one, put pet. So we know that dog and cat talks. If you had that talk. We'll do that.