Volatility Hedge Fund Manager Unpacks Derivatives Misconceptions | Benn Eifert

In this episode, Benn Eifert joins the show to discuss derivative & volatility strategies, the biggest derivatives misconceptions, and flaws with Stephen Miran’s tariff arguments. We also delve into volatility risk under the Trump administration, how to think about VIX percentage moves, and much more. Enjoy! __ Follow Benn Eifert: https://x.com/bennpeifert Follow Felix: https://x.com/fejau_inc Follow Forward Guidance: https://twitter.com/ForwardGuidance Follow Blockworks: https://twitter.com/Blockworks_ Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance Forward Guidance Telegram: https://t.me/+nSVVTQITWSdiYTIx — Forward Guidance Audience Survey: https://forward-guidance.beehiiv.com/forms/109bcbf7-0948-43b8-be8d-5390a5198125 — Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE FG10 FOR 10% OFF general admission! https://blockworks.co/event/digital-asset-summit-2025-new-york __ SKALE is the next evolution in Layer 1 blockchains with a gas-free invisible user experience, instant finality, high speed, and robust security. SKALE is built different as it allows for limitless scalability and has already saved its 46 Million users over $9 Billion in gas fees. SKALE is high-performance and cost-effective, making it ideal for compute-intensive applications like AI, gaming, and consumer-facing dApps. Learn more at skale.space and stay up to date with the gas-free invisible blockchain on X at @skalenetwork — Timestamps: (00:00) Introduction (01:32) Understanding Volatility-Focused Hedge Funds (04:12) Tools and Strategies in Volatility Trading (11:21) The Rise of Derivative-Based ETFs (19:03) Skale Ad (19:27) The Rise of Derivative-Based ETFs (Con't) (27:15) Risks and Misconceptions in Retail Options Trading (32:06) Skale Ad (32:36) Risks and Misconceptions in Retail Options Trading (Con’t) (37:09) Options Trading (41:07) Implied Probabilities and Market Misconceptions (44:17) The Reality of Options Pricing Models (47:06) Impact of Derivatives on the Market (57:47) Navigating Volatility in the Trump Era (01:01:01) Debating the Merits of Tariffs

__ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.