Level 4
Institutional
24 lessons, 101 minutes of video. 0 complete.
This level is locked. It opens when you pass the Advanced exam. You can see the lesson list below.
Level exam
Opens when every lesson in this level is marked complete (0 of 24).
Trade scenarios
6 practice situations for this level.
- 1Implied against realized: where does the premium come from?4:34
- 2How does the whole surface move when the market moves?4:06
- 3Trading skew on its own: risk reversals3:54
- 4Forward volatility and event premia between two expiries4:10
- 5Variance and volatility swaps4:24
- 6Gamma scalping: how does a long-gamma book get paid?3:56
- 7Vega bucketing by strike and expiry3:49
- 8Vanna, volga and charm in a real book3:47
- 9How often should you hedge?4:05
- 10Pin risk, assignment and weekend gamma3:51
- 11Dealer gamma: who damps the move and who amplifies it?3:48
- 12What does same-day (0DTE) flow do to the index?3:49
- 13Execution: complex orders, auctions and RFQs4:39
- 14Pricing an event: earnings, FOMC and CPI against base volatility4:02
- 15Dispersion and correlation trading4:02
- 16Cross-asset volatility: relative value between markets4:15
- 17Put-call parity, boxes and financing5:02
- 18Spot-vol grids and stress tests4:39
- 19Tail hedging and a convexity budget4:23
- 20Portfolio margin, Reg-T and SPAN: capital per unit of edge4:21
- 21Desk case: a short-volatility book through a real spike4:22
- 22Desk case: building and running a hedged book3:57
- 23Speed, zomma and color: when gamma itself moves4:48
- 24What does it cost to hold VIX futures?4:42