{"product_id":"tail-risk-hedging-master-option-trader-series-portfolio-protection-without-killing-returns-9798196156335","title":"Tail Risk Hedging (Master Option Trader Series): Portfolio Protection Without Killing Returns","description":"\u003cp\u003e • Author(s): Tony Pelz\u003cbr\u003e • Publisher: Independently Published\u003cbr\u003e • Publisher Imprint: Independently Published\u003cbr\u003e • BISAC: Investments \u0026amp; Securities - Options\u003c\/p\u003e\u003cp\u003eTail risk is the event that lives outside the model. Not the two-sigma drawdown that options pricing already discounts, the six-sigma dislocation that arrives with no warning, prices nothing like it should, and clears out traders who had everything right except one thing: they were not positioned for the world to briefly stop working. Every sophisticated options trader eventually discovers that knowing the Greeks and running a correct portfolio framework is not the same as surviving a regime break. This book teaches you how to do both. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eYou will learn: \u003cul\u003e\n\u003cli\u003eHow to define and measure tail risk in an options book: the precise difference between normal volatility risk and true discontinuous event risk, and why your existing stress tests are probably not finding it\u003c\/li\u003e\n\u003cli\u003eHow to build systematic Put protection without bleeding premium into a hedge that never pays: spread structures, roll schedules, and the cost-management disciplines that make a long-term hedging programme survivable\u003c\/li\u003e\n\u003cli\u003eHow VIX Call overlays and variance swaps function as tail hedges, when each is appropriate, and what they actually cost you across the long stretches when nothing breaks\u003c\/li\u003e\n\u003cli\u003eHow to construct convex payoff profiles that pay exponentially in a crisis without requiring you to predict timing, magnitude, or catalyst\u003c\/li\u003e\n\u003cli\u003eHow to identify positions in your book that appear uncorrelated and become violently correlated the moment VIX spikes and how to hedge the correlation itself before it becomes a problem\u003c\/li\u003e\n\u003cli\u003eHow to size and maintain tail hedges across three distinct market regimes: low-volatility grind, moderate stress, and full dislocation including when to add, when to roll, and when to take the hedge off entirely\u003c\/li\u003e\n\u003cli\u003eHow to run two complete tail-event scenarios, a slow-burn institutional deleveraging and a single-session crash, from initial trigger through active portfolio management and post-event reconstruction\u003c\/li\u003e\n\u003c\/ul\u003e\u003cbr\u003e This is not a book about being afraid of markets. It is a book about what happens to traders who are not afraid enough, and what the ones who survive the breaks did differently.\u003cbr\u003e","brand":"Independently Published","offers":[{"title":"Paperback","offer_id":47892894515351,"sku":"9798196156335","price":1657.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9798196156335.webp?v=1781189771","url":"https:\/\/atlanticbooks.com\/products\/tail-risk-hedging-master-option-trader-series-portfolio-protection-without-killing-returns-9798196156335","provider":"Atlantic Books","version":"1.0","type":"link"}