How Markets Work
The Juicy Stuff Doesn’t Hit The Pit
On adverse selection
How Markets Work
On adverse selection
Risk and Edge
Practicing confidence intervals
How Markets Work
Why it took so long for me to start learn about investing
Options Theory
Greeks are just fancy terms for a familiar idea: how sensitive options are to their inputs
Options and Volatility
Applying the concept of option gamma to understand how levered ETF deltas trigger daily delta rebalances
How Markets Work
A rare excursion into macro
Options Theory
The first option greek people learn after delta is gamma. Recall that delta represents how much an option’s price changes with respect to share price.
How Markets Work
Defending finance careers
Options Theory
A treatise on hedging
Risk and Edge
CAPM can help us compute hedge ratios and estimate "idio" risk
Options Theory
Part 2 of selecting outcomes from the tails of a distribution
Options Theory
Selection from strictly narrowed criteria
How Markets Work
This interview lifts the veil a bit on SIGs trader education program and culture.
Options Theory
Trading any option requires a view on volatility
Risk and Edge
A puzzle that demonstrates why option models assume lognormal distributions
Risk and Edge
On quarantining risk by reducing dependencies