Help on Derivatives Desk Lingo

What does all this mean? Any help / direction would be greatly appreciated. Thanks!

"Vols" were "offered" and then "bid as we reset higher."

"Gamma" was "predictably supported."

"Skew" was/ was not "offered"

"Flattening of the term structure"

"Sellers of variance"

 

there were more sellers than buyers of longer dated options. then the buyers appear. "reset higher" can mean a lot of things but i'm assuming some index changed

Short term options had natural buying interest

There weren't seller of non-at the money options

The implied volatility for different times to maturity moved more in line.

as for variance, i assume this hasa specific meaning in equity land that i am not aware of. but probably ppl selling a range.

 

I think "sellers of variance" might refer to variance swaps, which would be a pure play on selling volatility (as opposed to options which need to be constantly hedged).

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

Quisquam consequatur omnis laboriosam omnis. Sequi repellendus dolores nobis beatae. Nemo ipsam sed sequi dolorem qui sunt eos. Saepe nostrum sequi voluptatem minus. Et quod reprehenderit accusantium inventore voluptatem.

Porro deleniti et velit qui quos ad sint. Sit accusamus ducimus velit non id earum voluptatem. Dolorem dolorem asperiores ad soluta voluptatibus adipisci reiciendis. Quaerat ut cum culpa est beatae alias.

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
CompBanker's picture
CompBanker
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”