Diagonals
Butterflies Calendars Desk Notes Diagonals Synthetics
-
Early Assignment and Dividends: When Your Short Call Gets Exercised
Early assignment follows a simple test: a holder exercises when an option’s remaining time value is worth less than the dividend or interest they gain. A rules-first guide to dividend risk on short calls, deep in-the-money puts, what assignment does to diagonals and spreads, and how to manage it, with simple illustrative numbers.
-
S&P Record, 3-Year at a 2006 High: Desk Notes for 10-Year Auction and Minutes Day
The S&P 500 closed at a record 7,818.93, the MOVE fell to 105.2 and the VIX to 15.01, while Treasury paid the most for 3-year money since 2006. Desk notes on today’s 10-year reopening and Fed minutes, and what they mean for calendars, diagonals, butterflies, and parity.
-
10-Year at a 2002 High, VIX Still 15: Auction-Week Desk Notes
The 10-year closed at its highest since 2002 and the MOVE jumped to 113.6 while the VIX sat near 15.5. Desk notes on ISM prices paid, this week’s auctions and minutes, and what they mean for calendars, diagonals, butterflies, and parity.
-
MOVE Above 100, Equity Vol Still Cheap: Late-September Desk Notes
Bond vol broke 100 and the ten-year cleared 5% while the VIX sat near its median. A late-September desk note on how that MOVE–VIX split maps to diagonals, put-call parity, and relative-value work—plus verified further reading.
-
Calm Index, Noisy Names: Late-September Desk Notes on Diagonals and Synthetics
Index implied vol looks quiet while single-name vol and rate vol do not. A short desk note on how that split maps to diagonal income, put-call parity, and relative-value thinking—plus verified further reading.
