Academy (2026-06-02): Volatility Surface: Skew and Term Structure

Volatility surface: implied vol as function of strike and maturity. Skew: put vol vs call vol. Term structure: near-dated vs far-dated vol.

· AQT Academy· Sources: CNBC
Academy (2026-06-02): Volatility Surface: Skew and Term Structure - AQT / ALPHA量化

Definition

Volatility surface: implied vol as function of strike and maturity. Skew: put vol vs call vol. Term structure: near-dated vs far-dated vol.

Interpretation

Steep skew signals demand for downside protection. Inverted term structure often precedes volatility spikes. Surface shape informs option overwriting and hedging.

Reference: https://www.cboe.com/

Not investment advice. For informational purposes only. Sources: CNBC.

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