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Hull's Options, Futures & Other Derivatives and Natenberg's Option Pricing and Volatility are considered the handbooks on the street.

The only other things I can think of offhand that would fit your description would be flies.

I don't think you have a clear idea of what you want to do in the context of reality. Why, if you're putting on the position now and want that profile, would you long the stock to begin with, and not just do a collar outright. And, if as you say, a collar is not what you are looking for, I'm...

No no no, you're agreeing for the wrong reasons. Delta is roughly the probability of the option ending up in the money, but not exact because, simply put, it's weighted by payoff. The delta of a binary (digi) is exactly the probability of it ending up ITM. Also what are you talking about...

I do not think that was a coherent thought, but anyway just ones who work in the city as an options trader at one of the BBs. So yeah I think my word is good.

It depends on exactly do you mean when you say "6 month historical vol" and what you want to do with it. You want to match the tenors, so you would do 6 months of vol (usually rolling) over the history you want to look at (1Y, 2Y, etc) if you want to compare implied vs historical over a...

Don't listen to him, he has no idea what he's talking about. Of course "real traders" use the greeks. What an ignorant comment.

The real greeks of an option aren't just those from BS, and two of the biggest reasons are the BS (hah) assumption of constant volatility and no volatility smile/skew. These can greatly affect your greeks. For constant volatility, read up on Local Volatility vs Stochastic Volatility (Vol is...

I doubt you took into account the effect of skew and surface when calculating delta. Also, every market maker knows their big positions, but primarily they will be aggregated. Your book might have tens of thousands of trades, you're not going to know or even want to know the risk on every...

You're going to want to look up "Global Macro" hedge funds. That is how they are known in the business.

What are you talking about? For every option that is bought, there must be seller and vice versa... am I missing something here?

Is the trading job prop or market making?

That's a pretty reasonable maturity in the most liquid market in the world. Of course you'll pay more for EM and/or crosses but it's still fairly liquid.

You need to buy EUR/USD and sell USD/CAD, ie pay offer on Euro, bid on dollar-cad so to form cross: EUR/CAD: Bid = (Offer EUR/USD) * (Bid USD/CAD) Offer = (Bid EUR/USD) * (Offer USD/CAD)

They should do a study on how they're going to pay back the British Government.

If you're at a bank as a spot trader, you generally won't trade forwards. Forward traders, however, may trade spot as a hedge.

I actually work in FX Options if anyone has any inquiries.

You can join a prop firm, cta or bank without any trading experience/track record.

Not to say he's not lying, but I think what he meant is that he withdrew profits from the account as salary... seemed to be saying he'd start each year back at 30k. If that's the case... why don't you just not withdraw the profits, or take less of a draw to increase AUM and trading profits...

IV= Implied Volatility So what he is saying is, the market is pricing a big vol, meaning buying options is going to be very expensive. In basic terms, even if you were to get a pretty big jump in underlying, you might have paid so much for the premium (because of large IV) that it isn't even...