Ephemeris
April 13th Ephemeris
Ride the pony; don't get kicked.
Arcana Options Team
Ephemeris
March 19th Ephemeris
Dragons, labyrinths, and jitters
Dark Humor
The hidden, sacred power of the "volatility smile."
Options Are Younger, More Popular, and More Speculative Than Ever Before
A digest of 2025 reports
You All Meet at an Inn
The options market does not require a trader to become someone else. It does require him to know who he already is.
Who Options Are (Not) For
The same characteristics that make options powerful also make them unforgiving.
Why Most Market Commentary Isn't Enough
Most market commentary fails before it begins. Not because it is unintelligent. Not because the writers are unserious. Because it usually tries to answer the wrong question. It asks whether the market is bullish or bearish. Whether the Fed is dovish or hawkish. Whether the move is real or overdone.