Invitation: Office Hours: The Black Swan Hedge Series — Session 2 of 3
The BSH Factory: How to Build Crash Insurance That Pays For Itself
Tomorrow 5PM ET — Black Swan Office Hours Session 2 (Paid Members) Preheader: $600,000 from 10 hedge units in August 2015. $233K-$290K in Feb 2018. Universa-style returns in March 2020. Tomorrow we build the retail version live.
🗓 Friday, May 29, 2026 · Session 2 of 3 🕔 5:00 PM Eastern · 4:00 PM Central · 2:00 PM Pacific
🔒 Paid GYP members only.
Session 1 Recap
Last Friday in Session 1, we covered why to hedge — the math (a 50% loss requires a 100% gain to recover), the structural mispricing of tail options (the Tail Premium that institutions like Universa systematically harvest), and exactly what Universa Investments did to generate documented returns of 3,612% on the month in March 2020.
We introduced the convex structure family: long puts, put spreads, and the 1/2 ratio backspread that forms the foundation of any serious tail hedge.
Session 2 is the build-out. Now we go from “I understand why this works” to “I have a self-funding hedge program running in my account.”
What Session 2 Is About
Most retail traders who try to build a hedge program quit within 6-12 months. The drag adds up. The hedges expire worthless month after month. The market keeps grinding higher. The temptation to “save the premium” wins. And then, eventually, the crash hits — and the unhedged trader gets destroyed.
The traders who survive don’t have better timing. They have a better system — one where the hedge program funds itself after the initial seed period.
This is the BSH Factory. Tony has been running this model for years. After 6-12 months of operation, the harvested short-put premium pays for the ongoing BSH purchases — meaning the hedge program costs you nothing net of operations for the life of the account.
That’s what Session 2 builds, live, end to end.
🔒 The Series is For Paid Members Only
The detailed agenda, the StreamYard meeting link, and every Session 2 / Session 3 / white paper resource is reserved for paid GYP subscribers.
If you’re a paid member, scroll down for the meeting link.
If you’re not yet a paid member, become one here. You’ll get full access to:
Tomorrow’s Session 2 + the recording afterward
Session 3 (mid-June) — Mastering the Hedge / Valley of Death
The GYP Tail Risk Hedging White Paper — 13-section deep reference
The full 12-module Options Selling Masterclass
Every daily trade alert and the live members dashboard
👉 Paid Members — Register here to join Tomorrow
