Implied Volatility

Volatility Skew Explained: What the Options Market Is Really Pricing

A practical guide to implied volatility skew, volatility smiles, risk reversals and why out-of-the-money puts often trade at different implied volatility than calls.

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IV Crush Explained: Why Options Lose After Earnings

Why implied volatility collapses after earnings, how the expected move is priced and why a correct directional call can still lose money.

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