an intuitive way to visualize the Black-Scholes formula| Moontower Blog
the subprime crisis from both real-world and quant perspectives| Moontower Blog
The arithmetic behind how increased volatility reduces average compounded returns| Moontower Blog
Is it possible that factors overexplain excess performance?| Moontower Blog
Applying the concept of option gamma to understand how levered ETF deltas trigger daily delta rebalances| Moontower Blog
The brutal arithmetic behind shorting| Moontower Blog
See how the path of returns can alter the distribution of p/l independently of expectancy.| Moontower Blog
Vol drag does NOT change the mean or expected return. It affects the return you are most likely to experience.| Moontower Blog
liquid and levered lead while illiquid and indirect lag| Moontower Blog
How vol drag influences vertical spreads| Moontower Blog
Forecasting your actual compounded return| Moontower Blog
gamma p/l is the same as distance covered via acceleration| Moontower Blog
On June 2nd I tweeted: June expiry in USO vol change on the 3% rally... OPEC agreed over the weekend to hike production...but you saw the Ukraine-Russia developments. Competing bullish/bearish effects Vol is lower today if you look at the June surface. moontower.ai Volatility VisualizerBut| Moontower Blog
Non-self-weighting strategy| Moontower Blog
Uselessly long feedback loops mean investing is an act of faith| Moontower Blog
You’ve solved one equation with one unknown a million times. For example: $20 - 2 * $8.99 = X where: X = how much change you are owed after handing over an Andrew Jackson for 2 hot dogs at Wrigley Field. In finance, this uneventful operation is dressed up with| Moontower Blog
practice with volatility time| Moontower Blog
Trading is applying a process to a need or service the market demands| Moontower Blog
What's more likely to have alpha: systematic or discretionary conditional on you being allowed to invest?| Moontower Blog
How realized volatility depends on sampling frequency| Moontower Blog
a wide smattering of finance nerdom| Moontower Blog
The cotton market as a unique example of when derivatives become the underlying| Moontower Blog
The distribution of the stock market is different than the distribution of stocks| Moontower Blog
a subject that encompasses many vol topics| Moontower Blog
This is part 2 of “building an options chain in your head”| Moontower Blog
Why it took so long for me to start learn about investing| Moontower Blog
thoughts for professional option traders on the job market| Moontower Blog
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.| Moontower Blog
See how out-of-the-money options have non-linear responses to changes in implied volatility| Moontower Blog
Delta-neutrality, sticky strike vs sticky delta and more...| Moontower Blog
The .50 delta option is not necessarily at-the-money. See how the .50 delta strike holds information about the underlying distribution.| Moontower Blog