Treasury Basis Trade Explained: Repo, Leverage, Risk
How the Treasury cash-futures basis trade actually works: repo-financed long bonds, short futures, the convergence math, and why hedge funds risk $1T+ on it.
Market Education
Options Greeks Explained: Delta, Gamma, Theta, Vega, Rho
What the option Greeks actually measure, with a worked Black-Scholes example and a clear table showing how delta, gamma, theta, vega, and rho behave.
What Is WACC? Cost of Capital Formula and Worked Example
WACC blends a company’s cost of equity and after-tax cost of debt by their weights in capital structure. The formula, a worked example, and the traps.
Leveraged Buyouts Explained: Capital Structure and IRR
How LBOs work: capital structure, the IRR math behind private-equity returns, and the deals that defined the playbook from RJR Nabisco to Electronic Arts.
IPO Lock-Up Periods Explained: When Insider Selling Hits
How IPO lock-up periods work, why 180 days is standard, the SEC and FINRA rules behind them, and what tends to happen to the stock when they expire.
13F Filings Explained: How to See What Hedge Funds Own
Big institutional managers must publish their US equity holdings 45 days after each quarter on Form 13F. Here is what is in it, what is not, and how to read it.
NPV vs IRR Explained: When They Disagree and Why
NPV adds dollar value at your cost of capital. IRR is the rate that zeros it out. When they disagree on scale or timing, NPV wins. Here is why.
The Yield Curve Explained: Shape, Inversion, and What It Signals
What the Treasury yield curve is, why its shape matters, how inversions have historically preceded U.S. recessions, and how to read it.
0DTE Options Explained: How Same-Day Expirations Work
0DTE options expire the same day they trade. They are now 62% of all SPX volume. Here’s how same-day options work, what the Greeks do, and the real risks.
Bond Duration and Convexity: How Prices Move with Yields
Duration measures bond price sensitivity to yield changes; convexity corrects the curve. Formulas, a worked example, and a snapshot table.