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Episode 5: Reading the FX Volatility Surface
Why implied volatility is not one number. Explore smiles, skews, term structure and the way strike and expiry combine to create the FX volatility surface used for pricing and risk.This episode is part of FX Options Daily, a 30-day themed season of The Trading Floor covering pricing, hedging, exotics, risk and institutional FX options practice.Full treatment: Chapter 5 of FX Options.Educational content only. Nothing in this episode constitutes investment advice.
The skinny
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