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.
12,303 documents
This market review examines the sharp May 2021 crypto selloff, describing how a crowded advance, negative headlines, and broader risk aversion preceded a correction. It combines price moves with on-chain indicators and derivatives data to distinguish selling…
The update reports February 2023 crypto hedge fund index returns against Bitcoin, ether, and a broad crypto index, with category results showing substantial year-to-date differences. It characterizes February trading as low-volatility and directionless, and…
The article examines maximal extractable value (MEV) as a source of demand for blockchain transaction space. It distinguishes transactions driven by users’ need to access applications from MEV transactions generated by opportunities within the system.…
The report explains how to follow Ethereum’s Shanghai and Capella upgrades, which enable validators to withdraw staking rewards and principal. It describes the Beacon Chain’s predictable slot and epoch schedule, and recommends monitoring client readiness,…
Galaxy Research presents 26 forecasts for crypto markets in 2026 and reviews the conditions shaping them. The visible predictions cover Bitcoin’s uncertain near-term path and longer-term outlook, Solana’s onchain economy, Layer-1 value capture, corporate…
This annual mining report reviews the industry’s 2023 recovery and outlook for the 2024 Bitcoin halving. It links miner revenue to Bitcoin’s price, transaction fees, and network difficulty through hashprice, the expected daily value of a unit of hashing…
This report frames memes as cultural ideas whose means of expression and distribution have changed with communication technology. It argues that blockchains extend this history by offering globally accessible, persistent ledgers and peer-to-peer token…
The document outlines a market-structure proposal for managing financial exposure to computing capacity. It argues that GPU-hours are difficult to price consistently because capacity differs by chip architecture, workload, location, and contract terms.…
The article maps AI inference services onto trading-market roles. Users buy tokens, inference providers quote prices while committing GPU capacity, and aggregators route demand and charge fees. It argues that growing use of open models and software-driven…
The report analyzes an August 2023 Bitcoin selloff through futures positioning, trading activity, price levels, and on-chain holder data. It describes a rapid decline that liquidated about $2.75 billion in futures open interest, with low exchange volumes…
This article introduces five technical indicators for assessing price trends, momentum, and volatility: moving averages, the Average Directional Index, Moving Average Convergence Divergence, the Relative Strength Index, and Bollinger Bands. It distinguishes…
The article introduces delta as option price sensitivity and gamma as the rate at which delta changes with the underlying price. It describes gamma scalping as repeatedly adjusting an options portfolio to manage its Greek exposures while seeking to benefit…
This overview introduces multi-leg options strategies, including straddles, strangles, iron condors, and iron butterflies. It explains Delta, Gamma, Theta, Vega, and Rho as measures of how option values and portfolio exposures respond to changes in the…
The document introduces volatility as a measure of return dispersion and distinguishes historical volatility, calculated from past prices, from implied volatility inferred from option prices. Its historical-volatility example uses logarithmic returns and a…
This interview describes David U. Ordiz’s progression from discretionary Bund futures trading to systematic research and portfolio management. His approach focuses on intraday algorithms seeking short-term trend or counter-trend moves across index futures,…
The article introduces the Kalman filter as a recursive method for estimating a changing, partly unobserved state by combining model predictions with noisy measurements and their uncertainty. It explains concepts including normal distributions, variance,…
This overview explains high-frequency trading as automated order placement that depends on rapid market data, fast decision systems, and low-latency execution. It describes co-location, tick-by-tick feeds, and market making, where firms quote both sides and…
A retail trader describes moving from options volatility trading toward a broader systematic approach after the 2018 bear market exposed limits in relying on one strategy. He is refining his earlier short volatility system and exploring a floor-and-ceiling…
The article explains proprietary trading as a firm’s use of its own capital, then surveys strategies including merger arbitrage, index arbitrage, global macro trading, and volatility arbitrage. Its index example illustrates buying an ETF while shorting its…
This introductory guide explains descriptive statistics and probability concepts using daily Apple stock data. It defines mean, mode, and median, then introduces range and standard deviation as ways to describe price levels and dispersion. It distinguishes…
This interview profile describes a trader and strategy researcher’s plan to help establish a high-frequency trading desk within a broader systematic trading fund. The intended focus is short holding periods in Asian and European markets, drawing on machine…
The project backtests a mechanical strategy of selling an at-the-money SPY straddle each week, using options with roughly 45–60 days to expiry and holding each position until expiration. It describes sourcing option prices, matching entry dates with expiries…
This roundup introduces a range of options topics through summaries of ten articles and several additional strategy guides. It describes options as tools for transferring risk and outlines strategies such as butterflies, spreads, straddles, and calendar…
The document discusses SEBI’s approval for Indian exchanges to set equity derivatives trading hours between 9 a.m. and 11:55 p.m., subject to suitable risk systems and infrastructure. Approval alone does not ensure the exchanges will extend their sessions.…