How Markets Work
When Car Leases Offer Options For Less Than Zero
Back out the option premium from a car lease
Kris Abdelmessih
Options and Volatility
A birdie asked how to model a 1-day option
Thoughts about pricing 0DTEs that respect how volatility unfolds
Options and Volatility
Using Options Better
A smattering of practical option tips
How Markets Work
Mermaids, Fireflies, and the Bid-Ask Spread
On ETF and option market-making
How Markets Work
Life Settlement Arbitrage
A guest post showing how “markets find a way”
Risk and Edge
Know Nothing Sizing
Vol is more stable than returns
How Markets Work
Growth rate = 70% * (doublings/years)
If you can count doublings then you can easily dazzle your friends with how fast you estimate a growth rate for any number of years.
Options Theory
Socratic Puzzles To Build Your Financial Intuition
Puzzles to build fundamental trading logic
How Markets Work
What Drives The Stock Market
Fundamentals [still] matter
How Markets Work
Index Investing: The Nature of the Proposition
What we can learn from historical performance
How Markets Work
Inflation Replicator
Notes on my personal investing and hedging inflation
Options and Volatility
If you annualize volatility with 252 days can you use that number in a 365-day option model?
Why all implied volatilities are "wrong"
Risk and Edge
Trade or Tighten’
A common trading game for trainees
Options Theory
A Visual Primer For Understanding Options
A visual mapping of the greeks
How Markets Work
Career Advice For Quants
Link to a collection of career resources
Risk and Edge
Kelly Math Weirdness
The danger of Kelly criterion when the bet is skewed