Options and Volatility

• Using Log Returns And Volatility To Normalize Strike Distances

• Understanding Implied Forwards

• If You Make Money Every Day, You’re Not Maximizing

• Real Talk On Options Trading

• How Options Confuse Directional Traders

• Structuring Directional Option Trades

• Straddles, Volatility, and Win Rates

• Binary Straddle Example Based On The 2016 Election

• Dispersion Trading For The Uninitiated

• A Quick Thought On Hedging Tail Options

• Notes on Trading Volatility: Correlation, Term Structure, and Skew

• Vol Premium [Partial] Justification

• Get A New X-Axis

• A Cleaner Dashboard: Z-Scores Instead Of Price Changes

• Selling Calls: It Might Be Passive, But It Ain’t Income

• What Part Of Selling Calls Is “Income”?

• Celibacy Vs Condoms: The Answer To Whether You Should Trade Options

• A Socratic Dissection Of An Options Trade

• On Delta Hedging

• Well What Did You “Expect”?

• Practice Pricing Options By Hand

• The Snake Eyes Option

• Insights From The Warrant Puzzle via Financial Hacking

• Financial Hacking: ETF vs Negative Oil Futures

• Battle Scars As A Call Option — The UNG Experience

• You Think You’re Trading Vol….But Are You Even?

• Understanding Variance Time

• What We Can Learn From Vertical Spreads

• Covered Calls Are Still Just A Vol Trade

• Short Where She Lands, Long Where She Ain’t

• Understanding Risk Neutral Probability

• The Intuition Behind The Black Scholes Equation

• The MAD Straddle

• A Visual Appreciation For Black-Scholes Delta

• A Visual Primer For Understanding Options

• If you annualize volatility with 252 days can you use that number in a 365-day option model?

• How The Volatility Risk Premium Normalized Into The BTC Halving

• Using Options Better

• “Renting A Straddle”

• Weighting An Options Pair Trade

• a birdie asked how to model a 1-day option

• What Equity Option Traders Can Learn From Commodity Options

• Riffing on Paywalls, Trading & Options

• Narrating An Option Trade

• Breakpoints

• Ratio’d

• Option Analytics For All

• building an option chain in your head (part 1)

• a deeper understanding of vertical spreads (part 2)

• Simulating Dynamically Hedged Option Positions

• Connecting Vol Surfaces To Option P/L

• understanding the realized vol portion of option p/l

• Dynamic Hedging & Option P/L Decomposition

• GLD vol post-mortem

• how arbitrage pricing creates opportunities for directional investors

• a winner that’s really a loser

• a riddle related to American-style options

• derivative “income” bumhunting

• A few derivative “income” ETF comparisons

• crossing the commodity chasm

• JEPI and the…Atlanta Falcons

• moontower.ai testimonial and some of my thoughts

• Volatility term structure from multiple angles (part 1)

• my aversion to trading implied skew

• Options Riddle

• Volatility term structure from multiple angles (part 2)

• The Moontower Foreword to Retail Options Trading

• stepping through an oil put option trade

• the option market’s point spread

• why selling an option because the “stock will never get there” is amateur vol thinking

• translating to “option surface” language

• the option market’s point spread (part 2)

• insights from a moontower.ai user

• Option Spellbooks

• random oil option features

• Path, VIX, & Hit Rates vs Expectancy