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Why the market won't crash before the July 4th fireworks. Timely and actionable options market observations.

In part two of this two-part episode of The Derivative, Noel Smith discusses Convex's main options strategies in detail.

We discuss the Sears option pits, dinners at Gibson's, a yacht on Lake Michigan, funding Getco, and creating a 50+ trader prop firm.

On Real Vision's Real Visionaries, Noel Smith unpacks the four strategies that he and his team consistently employ today.

What does the market reaction to the events of the last 48 hours tell us about the risks facing investors in the near and intermediate term?

Used by the largest hedge funds, this strategy could be a victim of its own success due to its popularity and systemic risk to correlation.