Papers, wiki, Option Blackboard, encyclopedia, and cards.
A growing number of contributions in the literature have identified a puzzle in the European carbon allowance (EUA) market. Specifically, a persistent cost-of-carry spread (C-spread) over the risk-free rate has been observed. We are the first to explain the anomalous C-spread with the credit spread of the corporates involved in the emission trading scheme. We obtain statistical evidence that the C-spread is cointegra…
An order-book market whose liquidity provision is anchored to a fundamental value carries a restoring force: the price mean-reverts to value and the book refills after a shock. We show this restoring force is a robust intrinsic stabiliser and identify it causally-dialling the anchor down removes the mean-reversion, and a leverage-driven fire-sale then self-sustains. Separately, we ask whether a stressed market transm…
This paper introduces a new algorithmic execution model that integrates interbank limit and market orders with internal liquidity generated through market making. Based on the Cartea et al.\cite{cartea2015algorithmic} framework, we incorporate market impact in interbank orders while excluding it for internal market-making transactions. Our model aims to optimize the balance between interbank and internal liquidity, r…
This paper compares a series of contemporary portfolio construction approaches by employing ten U.S. stocks (TSLA, WMT, BAC, GS, LLY, MRK, GOOG, META, AAPL and XOM) in a time frame from September 2023 to December 2025. The paper explores both basic mean-variance optimization, constrained optimization, Fama French five factor regression modeling, Monte Carlo simulation, and the Black-Litterman model to determine how c…
Recent multimodal large language models have achieved strong performance in unified text and image understanding and generation, yet extending such native capability to 3D remains challenging due to limited data. Compared to abundant 2D imagery, high-quality 3D assets are scarce, making 3D synthesis under-constrained. Existing methods often rely on indirect pipelines that edit in 2D and lift results into 3D via optim…
As TLS 1.3 encryption limits traditional Deep Packet Inspection (DPI), the security community has pivoted to Euclidean Transformer-based classifiers (e.g., ET-BERT) for encrypted traffic analysis. However, these models remain vulnerable to byte-level adversarial morphing -- recent pre-padding attacks reduced ET-BERT accuracy to 25.68%, while VLESS Reality bypasses certificate-based detection entirely. We introduce AE…
We present a large-scale experimental study of quantum-computing-based molecular simulation carried out on IQM's Sirius 24-qubit superconducting processor, utilizing up to 16 operational qubits. The work employs Sample-based Quantum Diagonalization (SQD) together with the Local Unitary Cluster Jastrow (LUCJ) ansatz to estimate ground-state energies for a set of benchmark molecules, including H$_2$, LiH, BeH$_2$, H$_2…
Primary dealer holdings track how much inventory dealers are carrying, offering insight into balance-sheet absorption, market-making capacity, and Treasury market strain.
Carry and Roll Down — Expected return from holding higher-yielding tenor as it rolls down a positively sloped curve.
TBA Roll Specialness — Delivery-option value in TBA markets signaling collateral scarcity or abundance.
Theta Decay — Time decay of option premium, the carry engine for systematic short-vol strategies.
VIX Futures Term Structure — Curve shape driving roll yield for vol ETNs and systematic short-vol carry.
Volatility Carry Trade — Selling implied vol or rolling VIX futures in contango — crowded but regime-sensitive.
Carry Trade FX — Funding low-yield currencies to invest in high-yielders — pro-cyclical and crash-prone.
FX Forward Points (FX).
Commodity Carry — Return from rolling futures along the curve — core systematic commodity strategy.
Implied Realized Spread — Gap between implied and realized vol that defines carry for short-vol books.
Volatility Risk Premium — Average excess of implied over subsequent realized volatility.
Monte Carlo Option Pricing — Simulation pricing for path-dependent and multi-asset claims.
Uncovered Interest Parity — Hypothesis that high-yield currencies depreciate as carry accrues.
Basis Trade Crypto (Crypto).
Monte Carlo VaR (Systems).
Carbon Price EUA (Commodities).
Ricardian Equivalence (Economy).
Cumulative Abnormal Return (Quant).
Carbon Border Adjustment (Macro Policy).
Crypto Basis Trade (Crypto).
Crypto Realized Vol Regime — Shifts in realized volatility that redefine sizing and carry.
On the Run Specialness — Scarcity of the current coupon in repo creating special rates.
Fails to Deliver — Settlement fails as a signal of scarcity or operational stress.
Gold Lease Rate — Cost of borrowing gold reflecting scarcity and hedging demand.
CCAR Stress Test (Banking).
EM Carry Trade Unwind (Emerging Markets).
Ricardian Equivalence Debate (Economy).
FX Carry Trade Classic (FX).
Feedback Loop carry — Operating constraint and control-surface concept for Quant OS desks.
Constraint Map carry — Operating constraint and control-surface concept for Quant OS desks.
Factor Exposure carry — Quantitative signal, risk, or portfolio-construction building block.
Alpha Decay carry — Quantitative signal, risk, or portfolio-construction building block.
Signal IC carry — Quantitative signal, risk, or portfolio-construction building block.
Covariance Shrinkage carry — Quantitative signal, risk, or portfolio-construction building block.
Carry Signal EURUSD (FX).
Carry Signal USDJPY (FX).
Strategy bridge from Blackboard scanner cards into Options Lab templates without implying live broker execution.
Educational IV × Greeks × surface sandbox already mounted on the Blackboard — synthetic regimes for pedagogy beside the live scanner.
ADR Parity healthcare (Equity).
Adverse Selection carry Regime (Microstructure).
Agent Loop Budget carry Regime (AI Systems).
Alpha Decay carry — Quantitative signal, risk, or portfolio-construction building block.
Amihud Illiquidity carry — Market or funding liquidity stress and intermediation concept.
Analyst Upgrade Cycle healthcare (Equity).
Arrival Price Slippage carry Regime (Microstructure).
Auction Imbalance carry Regime (Microstructure).
Backtest Bias carry (Quant).
Basis Cash Carry BNB (Crypto).
Basis Cash Carry BTC (Crypto).
Basis Cash Carry CEX (Crypto).
Basis Cash Carry DeFi (Crypto).
Basis Cash Carry DEX (Crypto).
Basis Cash Carry ETH (Crypto).
Basis Cash Carry options (Crypto).
Basis Cash Carry perp (Crypto).
Basis Cash Carry SOL (Crypto).
Basis Cash Carry spot (Crypto).
Basis Cash Carry XRP (Crypto).
Borrow Cost healthcare (Equity).
Bridge Exploit Risk carry Regime (Crypto).
Buyback Yield healthcare — Equity factor, event, or flow concept for cash equity desks.
Capacity Curve carry (Quant).
A card for handling fast markets, wide spreads, liquidity air pockets, and broken execution assumptions.
A reusable card for converting research papers into buildable strategy or monitoring objects.
A card for tracking cross-currency basis, repo dislocations, and balance-sheet stress as early warning signals.
A serial decision card combining direction filter and time-window filter before execution.