Quantool · Reading CoursesFictional examples · no live trading
Separate learning path · 16 written lessons

Dealer Logic

Signed inventory, hedge arithmetic, Gamma, Vanna, Charm and the boundary between observed data and inferred positioning.

Choose one concept. The full explanation, worked example, graphs and answered exercises remain together on that lesson page.

DL-01 · CoreWhy dealers hedgeWhy might an option trade create a separate underlying trade?DL-02 · CoreDelta hedging: units firstHow do option sensitivities become futures contracts?DL-03 · CoreGamma determines hedge feedbackWhy does the sign of Gamma reverse the rebalancing direction?DL-04 · CoreGamma regimes are model statesWhat can a positive or negative regime label establish?DL-05 · CoreGamma flip and zero crossingsWhat makes a Gamma-flip level move?DL-06 · CoreStrike concentration and pinningWhy does large open interest not guarantee a pin?DL-07 · CoreCall walls and put wallsWhat does the provider's wall label measure?DL-08 · CoreDealer VannaHow can IV change the hedge without a spot move?DL-09 · CoreDealer CharmWhy can the clock change a neutral book?DL-10 · CoreVolatility changes specific sensitivitiesWhich Greek changes when IV falls?DL-11 · CoreExpiration and concentrated GammaWhy is the near-strike region special near expiry?DL-12 · CoreCompare dealer models with the auctionWhat happens when the model and price disagree?DL-13 · CoreHedging across global sessionsWhy does an overnight move matter to the next option session?DL-14 · CoreSession extremes and option-level mappingAre nearby lines economically comparable?DL-15 · CoreObservation, model and inferenceWhat can dealer analytics actually establish?DL-16 · CoreWrite an auditable dealer noteWhat makes a positioning explanation useful rather than persuasive-sounding?