by s7ven
The Curve
A reference for how markets actually work underneath the chart. Order flow, futures, options and options flow, explained down to the definition and the history. No strategies. No signals. No one telling you what to buy.
The Tape
Order flow
The bid, the ask, and everything that happens between them.
The Contract
Futures
Standardised agreements to exchange something later, and the machinery that makes them work.
The Right
Options
A right without an obligation, and the problem of pricing that asymmetry.
The Hedge
Options flow
What dealers are obliged to do after they take the other side.
The Feed
Data and measurement
Where the numbers come from, and why yours differ from someone else’s.
Every entry gives the definition first, then the thing people usually get wrong about it. Where a concept deserves more than a paragraph, there is a longer essay. Nothing anywhere tells you when to trade.