Liquidity Provision Risk Premium and the Cost of Leverage

How I look at option valuation and why I have a problem with Black Scholes.

Have you had enough of macro? I certainly have. Let’s do something else for a change. :)

This article is short and sweet, but it is also extremely information dense. I recommend reading it when you have a peaceful moment on your computer (as opposed to reading it on the phone) and it will help to open the underlying Excel model which I have attached for …