A Volatility Masterclass | Timeless Lessons from 30 Year Options Trader Noel Smith
In this episode of Excess Returns, we’re joined by Noel Smith, co-founder and CIO of Convex Asset Management. Noel shares his unique journey from biochemistry and the military to market making, high-frequency trading, and running a volatility-focused hedge fund. We dig deep into volatility, regime models, income strategies, dispersion, tail hedging, and more, offering a rare look inside the world of professional options and volatility trading.
Topics covered:
Noel’s background: biochemistry, military, market making, HFT, hedge fund launch
How markets have evolved since the 1990s
Why…
The skinny
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