Options and Volatility
Finding Vol Convexity
See how out-of-the-money options have non-linear responses to changes in implied volatility
Options Theory
Risk and Edge
Where Does Convexity Come From?
Convexity is a fancy word for "my position size is not constant"
Options Theory
Why Options Trades Focus on Vega
The most important greek for long-dated options
Options Theory
Lessons from the .50 Delta option
The .50 delta option is not necessarily at-the-money. See how the .50 delta strike holds information about the underlying distribution.
How Markets Work
Do Professional Investors Understand Fees?
Non-obvious relationships between volatility and management fees