About

I created this blog as a place to explore ideas and understand them better by writing about them.

A lot of those ideas will revolve around markets.

I am interested in trading, market microstructure, portfolio construction, strategy development, quantitative finance, pricing, risk management, execution, options, volatility, derivatives, relative value, and the ways different instruments and risks interact, and the systems behind how markets function.

I want to understand not only what happens in markets, but why it happens, how different prices interact, and how ideas can be turned into actual strategies and systems.

This might mean looking at how a market maker manages inventory, how a portfolio should be constructed, how a trading strategy is researched and tested, why execution changes the economics of a trade, how risk should be measured, how options are priced and traded, how volatility behaves and is modeled, how Greeks change a position’s risk, how implied and realized volatility relate, or how derivatives can be used to express, hedge, adn structure views, or how software and data infrastructure shape what is possible in practice.

Some posts will cover things I have already spent time studying. Others will be attempts to work trough questions I do not yet fully understand.

I do not expect everything written here to remain correct forever.

Learning usually involves discovering that your previous understanding was incomplete, so I want this blog to reflect that process rather than hide it.

Writing helps because it forces me to turn intuition into something concrete. If I cannot explain an idea clearly, there is a good chance I do not understand it well enough yet.

Markets will be the main subject, but not the only one. Mathematics, software, technology, economics, and whatever else I find interesting will inevitably appear as well.

This is essentially my public notebook.