Research without narrative.

Writing on pricing, derivatives, probability and market dynamics.

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Dec 24, 2025

Options Path-Dependency

Heuristics About Realized Volatility From Delta Hedging

Dec 24, 2025

Options Path-Dependency

Heuristics About Realized Volatility From Delta Hedging

Dec 15, 2025

The Effects of Spot-Vol Correlation

A Gentle Introduction to Local Volatility

Dec 15, 2025

The Effects of Spot-Vol Correlation

A Gentle Introduction to Local Volatility

Nov 14, 2025

Options Implied Distributions are not Real-World Distributions

Risk-Neutral Measures vs Physical Measures

Nov 14, 2025

Options Implied Distributions are not Real-World Distributions

Risk-Neutral Measures vs Physical Measures