Noel Smith, Founder and CIO of Convex Asset Management, is a seasoned proprietary trader who has shifted gears to hedge fund management. He unveils the lucrative secrets of prop trading, emphasizing why it often yields higher returns. The challenges of raising capital surprise him, as do the essential roles of relationships and likability in achieving success. Smith also delves into volatility trading strategies, the predictive power of options, and the unique hurdles faced in biotech stock trading, all while highlighting the importance of adaptability in today’s market.

Noel Smith, an experienced options trader from Convex Asset Management, shares valuable insights into the world of options trading. He discusses the pivotal role of gamma in shaping trading strategies and his daily routine. Their conversation dives into the evolution of trading from physical floors to tech-driven algorithms and how this has changed profitability perceptions. Noel also explores the thriving post-Covid options market, emphasizing the importance of understanding market dynamics and the crucial balance between data and intuition for retail traders.

Noel Smith, CIO at Convex Asset Management and an expert in options strategies, shares his insights on navigating market volatility. He advocates for ‘renting the market’ rather than ‘owning’ it, emphasizing risk management and the importance of volatility catalysts. Highlighting his success with Palantir, he discusses short options strategies in VIX futures and market dispersion. Listeners can learn about balancing index volatility and individual stock positions to capitalize on emerging trading opportunities.

Noel Smith, a volatility veteran with expertise in VIX spikes and market crashes, shares his insights on navigating today's turbulent markets. He discusses the intricacies of market volatility and the implications of high VIX readings. Noel emphasizes the importance of risk management and offers strategies for trading in such conditions. He highlights the benefits of dispersion trading and contrasts the trading dynamics for retail investors versus market makers. The conversation underscores adapting strategies in response to central bank actions and ever-changing market behavior.

Mark Sebastian, an options trader and volatility expert, joins Russell Rhoads, a professor specializing in derivatives, and Noel Smith, CIO at Convex Asset Management. They explore the latest trends in the US and European volatility markets, including exciting trading activities around VIX and SPX options. The trio debates the best hedging strategies, analyzes the impact of geopolitical tensions on market volatility, and predicts future movements in VIX and VSTOXX, all while sharing personal insights and market sentiment.