Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
10,263 documents
This introductory guide explains call and put options, the distinction between in-, at-, and out-of-the-money contracts, and key features of China’s 50ETF options, including contract size, exercise style, settlement, and price limits. It emphasizes that…
This weekly market recap reviews Bitcoin and Ether derivatives conditions, including realized volatility, implied-volatility term structure, skew, option flows, and dealer gamma. It describes weak spot prices alongside subdued realized volatility, while…
This market recap describes how a sharp crypto decline affected BTC and ETH options. It reports rising realized volatility, a larger response in short-dated implied volatility than in longer maturities, and an inverted term structure after spot fell. The…
This Q2 2023 report teaser examines Bitcoin and Ethereum options activity, volatility behavior, and the DVOL index. It describes a rules-based method for estimating trade aggressor direction using weighted heuristics, then discusses differences in spot and…
This Chinese-language article surveys quantitative finance work through six role types: desk quant, model validation, research, quant development, statistical arbitrage, and capital modeling. It describes how these roles differ in their proximity to trading,…
The document explains how Hyperliquid derives robust reference prices for perpetual futures to reduce exposure to market manipulation. Its oracle price is a weighted median of centralized-exchange prices and is used to calculate funding rates; because…
This market note reviews Bitcoin and Ether options around a period of banking stress and major US economic releases. It describes Bitcoin’s term structure moving into backwardation, with near-dated implied volatility elevated relative to longer maturities,…
This market commentary examines crypto options positioning in December 2023 as traders anticipated a US spot Bitcoin ETF decision. It discusses a sharp Bitcoin pullback and a rise in realized volatility, alongside a decline in short-dated implied volatility…
This tutorial develops bivariate copulas as a way to describe dependence separately from the marginal distributions of two variables. It defines tail dependence and the Fréchet–Hoeffding bounds, then explains how an empirical copula can be estimated from…
This market commentary links changing Federal Reserve rate-cut expectations with risk-asset performance, then examines relative strength and options conditions in Bitcoin and Ether. It discusses how realized volatility and the ETH/BTC ratio may reflect…
This market commentary interprets crypto option-implied distributions and volatility around the 2024 US election. It uses calibrated BTC options distributions to compare the market-implied chance of prices above $72,000 at the November 8 and December 27…
This mid-week recap summarizes derivatives conditions in Bitcoin and Ether as of April 21, 2023. It reports stable Bitcoin 10-day realized volatility in the low 30s while attention shifted toward Ether, and describes term structures for both assets as moving…
This example shows how to run an options backtest from a catalog containing option instruments, quote ticks, and Greeks. It subscribes to periodic option-chain snapshots for a chosen series and selects a contract either at a specified strike or near a target…
The document reviews crypto market conditions ahead of the Bitcoin halving and discusses how macroeconomic pressure may affect sentiment and options pricing. It points to higher Treasury yields and a stronger dollar as headwinds while noting that implied…
The webinar summary addresses how to estimate option values in newer crypto markets where liquid options data may be sparse or absent. It describes Amberdata’s approach as using liquid equity options as a reference for generating implied volatility surfaces,…
This conference recap describes themes reported at Consensus Hong Kong 2025, including greater institutional participation in digital assets, regulatory developments, and interest in combining blockchain with artificial intelligence. It says Hong Kong's…
This podcast recap discusses Bitcoin’s volatility and derivatives market conditions around a sharp price decline and subsequent stabilization. It introduces implied volatility and volatility compression, and describes a reported contrast between elevated…
The document explains crypto futures as contracts tied to an underlying asset, contrasting them with spot trading. It describes how traders may take long or short positions based on an expected price rise or fall, and illustrates a short trade in Bitcoin:…
The article defines volatility as the dispersion of continuously compounded returns and explains why higher volatility, all else equal, raises option value. It distinguishes historical volatility, estimated future volatility, traders’ expected volatility,…
This documentation explains that Hyperliquid index perpetual contracts use a calculated index as the underlying reference instead of a spot asset price. Validators periodically publish index values to the chain, and the median of their reports substitutes…
This reference explains how to model an exchange-defined crypto futures spread as one tradable instrument. It lists required metadata such as the underlying asset, quote and settlement currencies, venue symbol, strategy type, activation and expiration times,…
This market commentary reviews Bitcoin and Ethereum options conditions, covering realized and implied volatility, carry, skew term structures, and relative value. It reports that realized volatility rose, implied volatility did not keep pace in Bitcoin as…
This market commentary connects Federal Reserve easing, Bitcoin price prospects, spot ETF adoption, and options volatility. It contrasts a possible short-term volatility surge with a longer-term decline as institutional ownership grows. For a bullish…
This market commentary links a decline in US yields and expectations of a possible soft landing with gains in Bitcoin, Ether, and gold. It reviews the coming employment and central bank events, then interprets crypto options activity: traders appeared…