Finance, in motion
A growing library of short animated lessons, hand-coded frame by frame in Python. Each video is under five minutes, designed for a single lecture beat. Where a lesson maps to an Atlas concept, you can jump from the video into formulas, worked examples, and a quick check quiz.
What Is an Option? Calls, Puts, and the Premium
An option is the right but not the obligation to buy or sell at a fixed strike. Calls, puts, the premium, and why the buyer loss is capped.
Option Profit Diagrams at Expiry: Calls, Puts, and Breakeven
How long and short calls and puts pay off at expiry. The kink sits at the strike, and the breakeven is one premium away from it.
IRF vs FRA: a five-axis comparison
Interest Rate Futures versus Forward Rate Agreements compared across venue, standardisation, margin, regulation, and liquidity.
Put-Call Parity, the hidden link between every call and put
Why a call plus a bond equals a put plus a share, the parity equation, and the riskless arbitrage when it breaks. European options only.
Call Options, the right to buy and how leverage cuts both ways
A call is the right, not the obligation, to buy at the strike. Payoff, profit, breakeven, and why leverage cuts both ways, with a worked CBA example.
Futures Payoff, a straight line and a perfect zero-sum game
The simplest derivative payoff. Long is the price minus the entry, short is the mirror, no premium, and every dollar one side makes the other loses.
Risk-neutral Probability, the weight that prices options without forecasts
The artificial weight that makes the discounted stock grow at the risk-free rate. Not a forecast, and the reason an option price ignores where the stock is headed.
Interest Rate Swaps, swap the payments, never the principal
Two parties exchange fixed for floating interest on a notional. Only the net moves each period, the notional never does, and the swap starts at zero value.
Black-Scholes-Merton, one formula that priced the option market
A continuously hedged stock-and-bond portfolio replicates an option, so it has one no-arbitrage price, and the expected return of the stock drops out entirely.
Binomial Option Pricing, one-step and two-step trees by hand
Two equations, one process: build the stock price forward, then the option backward. A worked one-step (p = 0.6523, $0.633) and two-step tree ($1.2823).
Inside a Futures Contract, the anatomy of an agreement
How an exchange standardises every term of a futures contract, so the only thing two strangers ever negotiate is the price.
How Futures Margin Accounts Work, the daily survival rules
Initial margin, maintenance margin, and the daily mark-to-market that triggers a margin call. Top up to initial or the broker closes you out.
Straddles, the long and short of betting on volatility
The long straddle (buy a call and a put) bets on a big move either way; the short straddle (sell both) bets the market stays still. Payoffs and break-evens.
Option Combinations, why a straddle is not just any two options
A straddle is a call plus a put at the same strike. A call plus a call is a spread. How option legs stack into different payoff shapes, and why most combinations are not straddles.
Deflation and the trap of falling prices
Why central banks fear falling prices. The deflationary spiral, Fisher debt-deflation, the zero-lower-bound trap, and Japan as the real case.
The Term Structure of Interest Rates, why the yield curve slopes up and what an inversion warns
The yield curve explained: expectations theory, the liquidity premium that tilts it upward, and why an inverted curve warns of rate cuts and a possible recession.
The Efficient Markets Hypothesis, why that bargain on your screen probably is not one
Why prices already reflect public information, why only new and unpredictable news moves them, and why consistently beating the market is so hard.
Rational Expectations, how people really forecast the future
Adaptive expectations look backward at past data; rational expectations use all available information, so forecast errors are random rather than systematic.
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