Understanding VIX, Implied Volatility, Skew, Term Structure, Volatility Risk Premium, and Trading Strategies
« VOLATILITY TRADING FROM ZERO » est un livre de Faramarz Kowsari dans le domaine trading et marchés financiers. Cette page de découverte en français organise les métadonnées publiques du livre afin de rendre ses thèmes, son public, sa langue réelle de publication et ses accès officiels plus faciles à trouver.
La fiche publique met en avant le trading, la structure de marché, la liquidité, le risque ou des concepts connexes.
Langue de publication: anglais. Cette page est une orientation en français. Le livre lui-même est publié en anglais ; le titre, l'aperçu et les options d'achat sur Google Books correspondent à cette édition.
« VOLATILITY TRADING FROM ZERO » est un livre de Faramarz Kowsari dans le domaine trading et marchés financiers. Cette page de découverte en français organise les métadonnées publiques du livre afin de rendre ses thèmes, son public, sa langue réelle de publication et ses accès officiels plus faciles à trouver.
La fiche publique met en avant le trading, la structure de marché, la liquidité, le risque ou des concepts connexes.
Thèmes mis en avant
Volatility versus market directionReturns, dispersion and time scalingRealized volatility measurementOption premium and the GreeksVIX calculation and interpretationVIX1D, VIX9D and VIX3MImplied volatility modelsExpected moves and probability errorsIV Rank and IV PercentileEvent volatility and IV crushVolatility skewPut skew and crash protectionSmile, butterflies and tail pricingVolatility surface
Description publique originale du livre
anglais
A trader can forecast a large market move and still lose money on a purchased option. A trader can correctly expect a rise in the VIX and still misunderstand the instrument held. VOLATILITY TRADING FROM ZERO begins with this uncomfortable but essential distinction: volatility is about the magnitude and distribution of returns, not simply whether prices rise or fall. The opening chapters build the mathematics of realized volatility, return measurement and time scaling, then connect option premium to implied volatility and the Greeks. This foundation explains why market direction, option price, the passage of time and changes in volatility expectations can disagree with one another. The objective is to understand what a position actually owns before predicting what an index might do.
Across 44 chapters, the book opens up the VIX family with care. It explains what the VIX measures, the logic of its calculation, why arbitrary 'high' or 'low' VIX thresholds can mislead, and how VIX1D, VIX9D and VIX3M refer to different horizons. Implied volatility is developed as a model-based price convention rather than a literal forecast or guaranteed probability. The reader then encounters expected moves, IV Rank and Percentile, scheduled catalysts, post-event volatility crush, and the way surprises affect position P&L. The treatment of skew and volatility surfaces goes beyond noticing a smile: different strikes can imply different volatility, and the relative pricing of wings, crash protection and tails changes what a proposed strategy costs.
The next layer separates two curves that are often confused: the term structure of option-implied volatility and the futures curve of the VIX. Their shapes carry different meanings and cannot be traded as if they were interchangeable. Chapters…
À qui s'adresse le livre ?
Le public visé est fondé sur la description publique du livre. Pour les lecteurs francophones, il faut noter que l'édition disponible est publiée en anglais.
For curious beginners who understand basic market terminology, options students, index traders, futures traders, systematic researchers and experienced directional traders who want to understand why volatility exposure behaves differently from owning the underlying asset. The sequence is useful for readers progressing from basic returns and option pricing toward VIX products, volatility structures, portfolio hedging and defensible research. Some chapters require comfort with options, probabilities and derivatives mechanics; the early chapters establish the necessary language. All strategies involve risk and are discussed for education, not as individualized investment advice.
Objectifs d'apprentissage publiés
anglais
Separate a directional market forecast from a forecast about the size and distribution of returns.
Measure realized volatility and explain how time horizon and annualization affect comparisons.
Understand why option prices can lose value despite an accurate move forecast, using implied volatility, theta, delta, gamma and vega.
Interpret the VIX family as horizon-specific measures rather than market-direction forecasts or universal buy/sell thresholds.
Compare IV Rank, IV Percentile, expected moves and scheduled-event pricing without treating model conventions as guarantees.
Read volatility skew, put wings, tail pricing and the surface as relative prices of different strike-and-expiry risks.
Distinguish an options volatility term structure from the VIX futures curve, including basis and settlement effects.
Explain volatility risk premium, short-volatility carry, left-tail risk and the conditions under which carry breaks down.