Quant Endowment
Black Scholes
Enquire
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Butterflies
Small edge.
Large wing.
A systematic options book. Defined risk. The profit becomes the floor under someone else.
Long Butterfly
Defined Risk
01
01 / Thesis
We price
the tails.
Volatility is mispriced at the edges. We are paid to hold the shape the market will not.
02
02 / Structure
Butterfly.
Two wings. A known maximum loss, set before the trade.
Convexity.
Small premium. Large payoff where others panic.
Carry.
Paid to wait in the space between the wings.
Systematic.
Rules, not opinions. The book rebalances itself.
03
03 / Purpose
Edge becomes
floor.
The fund exists to give the edge away. Quant profit endows poverty reduction research.
We give the
edge away.
Quietly. Permanently.
04
04 / Discipline
Defined.
Maximum loss known before entry. Always.
Hedged.
Every wing offset. No naked risk.
Patient.
The edge is small and certain. We let it compound.
05 / Enquire
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