Alcor Finance Blog

Research Jun 15, 2026

On-Chain Options Desk: How It Differs From a Traditional OTC Desk

A high-level comparison of off-chain OTC options desks and on-chain options desks: custody, margin, settlement, transparency, and what still remains on trust.

Alcor · Jun 15, 2026 · 7 min read

Read brief →

№ 23 · 2026

Hedging Uniswap V3 Positions with Options

Using European put options to reduce the price risk of concentrated Uniswap V3 liquidity provider positions.

Alcor · Oct 1, 2025 · 4 min

№ 52 · 2026

Research

Stochastic Volatility: Modeling Ethereum Options

Comparing Heston and SABR approaches to capture volatility smiles and surfaces observed in ETH options data.

Alcor · Sep 15, 2025 · 7 min

№ 04 · 2026

Research

Options and the Black–Scholes Formula (Part 1)

Building intuition for geometric Brownian motion and the log-normal price assumption on the way to deriving Black–Scholes.

Alcor · Jul 5, 2025 · 3 min

The Archive

All Weekly Research Strategy Tutorials Macro

Research

May 1, 2026

Decoupling in Crypto Derivatives: Skew Dynamics and Market Sentiment

Analyzing the divergence between spot and derivatives markets amid recent BTC rallies.

Put Skew Persists Through a 16% Rally: Reading the BTC/ETH Derivatives Divergence — May 01 2026

Spot rallied 16% MTD yet funding rates, 25-delta skew, and IV all tell a bearish derivatives story — here's what it means.

Decomposing a Uniswap V3 Position into Two Options

Breaking down a concentrated liquidity range into a curved call spread plus a short put and valuing both legs with SABR-calibrated options.

Options and the Black–Scholes Formula (Part 2)

Switching to the risk-neutral measure via Girsanov’s theorem and preparing to solve the geometric Brownian motion SDE.

Alcor

4 min read