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Trading Volatility As An Asset Class

10 Aug 2011

Article by: Emanuel Derman
Published by: Columbia University
Date: 10 Jun 2003

“Volatility is a useful trading hedge against all kinds of disasters. How can you trade it? Calls and puts don’t quite do it. Though calls and puts are sensitive to volatility, they are not sensitive only to volatility. How can you do better?”

Full article (PDF): Link

 
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