Blogs
Elevated Risk Premiums
May 18, 2026Wars in the Mideast and Ukraine, oil prices up sharply year-to-date, continued tariff and trade uncertainty, a private credit mini-meltdown, rumblings about an AI bubble, and economic uncertainty at record levels—any one of these could lead to the conclusion that ...
Read moreGold: An Inconsistent Hedge
April 20, 2026Since ancient times, gold has been regarded as an enduring store of value. Buoyed by its push toward record highs last January, supporters cast it as an all-purpose hedge — against inflation, geopolitical risk, and broad-based uncertainty, all while touting ...
Read morePricing the Ceasefire – UPDATED
April 14, 2026Garrett DeSimone, PhD Oscar Shih Following the collapse of US-Iran peace talks in Pakistan, the Brent crude RND has shifted meaningfully. The mode migrated from 89 to 92 in moneyness, and the forward itself rose from $94.75 to $99.36 — ...
Read morePricing the Ceasefire: What Brent Crude Options Reveal About Conflict Risk
April 9, 2026By: Garrett DeSimone and Oscar Shih On April 8th, a two-week ceasefire between the US and Iran was announced just 90 minutes before President Trump's deadline for Iran to reopen the Strait of Hormuz. Risk appetite snapped back across asset ...
Read moreCrude Oil Volatility: Not Unprecedented
March 19, 2026Geopolitics are dominating the markets, and crude oil is front and center. The war in Iran, and the related closing of the Straits of Hormuz, have led to the most severe supply constraints since the oil embargoes of the 1970s. ...
Read moreWhen Two SPX Expirations Collide: What Happens Every Third Thursday at 3:45 pm?
March 11, 2026By: Oscar Shih Volatility skew serves as a widely recognized measure of investor perception of downside jump risk. It reflects the market’s directional bias - or the extent to which traders are more concerned about the underlying asset rising or ...
Read moreThe 0-DTE Variance Premium: MAG7 Reward More and Punish Harder
February 23, 2026The SEC's recent approval of Monday and Wednesday expiries for single-stock options marks a significant evolution in the options market. Until now, daily expirations have been the exclusive domain of major index products and ETFs. The extension of 0-DTE trading ...
Read moreAre the Markets More Volatile Now?
February 18, 2026The common perception among most traders and investors is that we live in increasingly uncertain times and that the markets are reacting with increased volatility and heightened event risk. Abnormal price swings due to unexpected news, whether it be economic, ...
Read moreA Silver Bubble?
January 20, 2026It is early 2026, and certain trends from 2025 are carrying over into the new year. most prominently, the seemingly inexorable rally in precious metals continues unabated. Gold used to be the standard bearer of the complex, but now all ...
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