Recall the levered silver flows post where we see the quick math of levered ETFs. For a fund to maintain its mandated…
What did we notice? a * b = Mean² − MAD² (where MAD = mean absolute deviation) As soon as…
“Vega wounds, gamma kills” is an esoteric expression that’s still common enough that you can google it and return a…
By now y’all know option traders have the ATM straddle approximation burned into their retina: straddle ≈ .8 Sσ √T…
The single biggest adjustment to get my head around when I crossed the chasm from equity options trading to commodity…
As I’ve shared here before, I spun up an investing class for middle and high school kids locally. I am…
I sent this to our moontower.ai list this week: If you run a trading or investment book that uses options…
Oil vols and calls skews were up a lot this week as the expectation of the US striking Iran increases.…
Last week, in embedding spot-vol correlation in option deltas, I showed how vol paths use anticipated changes in implied vol as the…
Before we get to the heart of today’s education, this is a video follow up to yesterday’s HOOD: A Case Study…