Netting risk, “The Hopeless”, John Arnold and more

a wide smattering of finance nerdom

The variable that balances the buy/rent equation

You’ve solved one equation with one unknown a million times. For example: $20 - 2 * $8.99 = X where: X = how much change you are owed after handing over an Andrew Jackson for 2 hot dogs at Wrigley Field. In finance, this uneventful operation is dressed up with the

two vol trader interview questions

practice with volatility time

how I sold cotton at an all-time high

The cotton market as a unique example of when derivatives become the underlying

Our big TSLA covered call study

Selling covered calls in TSLA for the past 6 years

Options as LEGOs

How to explain options and put-call parity to absolute beginners

shortcuts to get implied vol from a straddle

more option math tricks

what the vol spread hides

how charts oversimplify

the 2 vectors of volatility scaling

the foundation of portfolio construction

another example of vol goggles

Delta bid or vol bid?

shorter VRP lookbacks

VRP failure mode: a stale denominator

etf fair value

etf NAV and BTC