Reference
Quick reference for options and volatility concepts. Look something up fast.
New to options?
Start with Options Explainers (0→1) for the basics, then Reading Volatility (1→2) for advanced concepts.
Basics
- Exercise Styles: American vs European - When you can exercise
- Settlement Types: Cash vs Physical - How contracts settle
- Moneyness: ITM, ATM, OTM - Is your option in the money?
- Premium - The price you pay or receive
- Option Valuation - Intrinsic vs extrinsic value
Pricing
- Implied Volatility - The market's expected move
- Black-Scholes Model - The standard pricing formula
- SVI Parameterization - How vol surfaces are modeled
Volatility
- Vol Surface - The 3D map of implied volatility
- Skew - IV across strikes at fixed expiry
- Term Structure - IV across expiries at fixed strike
- Vol Regimes - Low, normal, high, and crisis volatility
Greeks
- Overview - What the Greeks measure
First-Order Greeks
- Delta - Price sensitivity to underlying
- Gamma - Rate of delta change
- Theta - Time decay
- Vega - Volatility sensitivity