The lessons in this section built option pricing from the ground up: the binomial tree, Black-Scholes, implied volatility, the Greeks and how to hedge with them. A market maker quoting options does not have time to run any of that between a broker’s question and the answer. This lesson collects the shortcuts the desk uses instead. None of them replaces the models; every one of them is a compression of a model result into something you can do in your head, and interviewers test exactly these.
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