Getting Started
Foundational options structure, terminology, and first steps inside the terminal.
What Moves Markets
An introduction to the underlying forces of supply and demand, order books, and intermediate liquidity desks that dictate asset price movements.
Understanding Liquidity
Deconstruct the structural nature of liquidity, order book depth, spread width, and the roles of institutional liquidity providers.
Price vs. Positioning
Contrast price-based charting methods with options dealer positioning indicators to discover structural friction points and market constraints.
Why Dealer Exposure Matters
Explore the systemic importance of options dealers' hedging requirements and how their exposure dictates spot volatility.
Introduction to Volatility
Learn the core definitions of volatility, implied expectations, realized movement, and volatility as an independent asset class.
Introduction to Options
A fundamental guide to options contracts, call and put definitions, strike configurations, and expiration profiles.
Introduction to Greeks
Deconstruct the four primary option Greeks—Delta, Gamma, Theta, and Vega—and how they measure options sensitivity.
Reading an Option Chain
Learn how to read institutional options grids, locating key metrics like open interest distribution and volume ratios.
First Day Inside Arkenwell
A complete operational walkthrough of the Arkenwell Terminal — from login to live trade-ready positioning. Covers every major workspace, module interaction, keyboard shortcuts, and professional pre-market routines used by serious derivatives traders.
Market Maker Behavior
Deconstruct how options market makers manage inventories, clear spreads, and minimize directional exposure.