Skew
Posts about implied volatility skew, the vol smile, normalizing skew data, and what skew shape signals about positioning.
Get these in your inbox every market day.
The "right" way to read skew
Someone in the community asked me if there's a rule of thumb for normalizing skew data.
The "fear gauge" is wrong
CNBC has called VIX the "fear gauge" for 30 years. That's just wrong.
Crashes don't start from the top
"Buy protection when markets are euphoric and everyone's greedy." Every beginner trading book says that.
Not all put buying means the same thing
"Record put demand, must be close to a bottom." I keep seeing this take. And historically, heavy put buying does line up with bottoms.
Skew is storing energy
Everyone wants to sell premium right now. I get it — vol is elevated, theta looks fat.
The rally no one trusts
NVDA is rallying. The options market disagrees. Skew is telling you something...
SPX fixed strike vol: are you noticing?
When price whips around and fixed-strike skew stays bid, the market isn’t debating direction. It’s repricing downside distribution...