What if the biggest market moves aren't driven by fundamentals—but by flows you can't see?

In this episode, Brent Kochuba of SpotGamma joins us to explain the hidden mechanics of the options market that are quietly reshaping stock prices. We explore how dealer hedging, gamma squeezes, and volatility dynamics like Vanna and Charm are influencing everything from individual stocks to the S&P 500. Whether you're an active trader or a long-term investor, understanding these forces is crucial to interpreting today’s markets.

We discuss:

• Why dealer flows are moving billions in stocks each day

• What Gamma, Vanna, and Charm really mean—and why they matter

• How implied volatility creates powerful reflexive market moves

• Why options expiration dates often mark key turning points

• What long-term investors should know about short-term flows

• Real-world examples: GameStop, Tesla, Nvidia, COVID, and more

Even if you never trade an option, this conversation will change how you think about market behavior.

In this episode of Teach Me Like I'm 5, options expert Kris Abdelmessih breaks down one of the most foundational—and misunderstood—concepts in options trading: put-call parity. Using Lego analogies, homemade spreadsheets, and Fast & Furious references, Kris shows how options are like building blocks you can combine to create any payoff you want—including replicating a stock itself.

Whether you're a beginner trying to understand options basics or a seasoned investor looking for deeper insights into synthetic positions and implied interest rates, this episode is packed with practical lessons presented in the most approachable way possible.

What We Cover:

Why calls and puts are “the same” through the lens of put-call parity

How to visualize and replicate stock payoffs using only options

The concept of synthetic positions: synthetic stock, calls, and puts

How put-call parity collapses complex strategies into basic building blocks

The real mechanics behind covered calls—and what they really are

How professional traders use options pricing to infer interest rates and stock borrowing conditions

A deep dive into "box spreads" and how they replicate zero-coupon bonds

In this episode of our new show Teach Me Like I'm 5, we’re joined by Mat Cashman, Principal of Investor Education at the OCC, to break down a powerful yet often overlooked concept in options trading: the Rule of 16. Whether you're new to volatility or a market veteran, this conversation takes you from the sandbox to the risk desk, explaining how this simple rule transforms annualized volatility into daily insight—and how professionals use it to assess market surprises, portfolio risk, and trading decisions.

What We Cover:

What the Rule of 16 is and why it mattersTranslating annualized volatility into daily expectations

Why understanding standard deviation helps traders interpret large price moves

How experienced traders use the Rule of 16 to adjust to fast-changing volatility

Real-world examples including recent five-standard-deviation events

The psychological and behavioral impact of “surprising” moves on market participantsHow to build a daily baseline for expected price movement

Using the Rule of 16 to contextualize options positions and risk management