Comment by cbozeman
4 days ago
Options traders are paid well. It's still unproductive.
You're just shifting around a bunch of numbers temporarily to make a bunch of money for someone and lose a bunch for someone else.
Lots of shit we do is well-paid and unproductive.
If, as a species, we eliminated all bullshit jobs, there's a good chance only 20-30% of the species would be working. Here in America, only around 50% of people are actually working. Everyone else is in school, or retired.
Options traders help with the efficient allocation of capital, which is actually very valuable to society.
You are downvoted because what you say is unpopular, but nobody tried to refute what you say.
Despite what some people may think, options are not just for gambling, but some people - like farmers who have to plan for uncertain weather - use them for a real purpose. And of course the use of option in the financial sector for hedging is extremely important too. But it's easier to dismissively say that trading options is a "bullshit job" and go back to one's ivory tower.
They are mercenaries hired to maximize the share of the loot that goes to their employers.