Trade options the way
an institutional desk does.
Greeks, vol skew, term structure, GEX, 25-delta risk reversal, iron condors, butterflies. 60+ hours of applied method, not recycled YouTube content. Live calls and Q&A included.
The reality
Why most options traders lose money
Most retail options traders confuse selling an option with collecting premium. They sell theta without understanding the gamma convexity sitting underneath, ignore vol skew, treat vega as a secondary variable, and then discover that a 2% move in the underlying can erase six months of "steady income" in one session. That's not bad luck — it's a methodology gap.
The root cause is the available content. YouTube channels on options walk through expiration payoff diagrams, vaguely mention "high IV = sell options", recommend iron condors as "passive income" without ever addressing gap risk, and never touch charm, vanna or vomma. They teach what you learn in your first week on a desk — not what you actually apply day-to-day.
This course flips that. A professional options trader thinks in terms of volatility surfaces, dealer positioning, gamma flows and cross-asset exposure — not "magic strategies". The result is repeatable decisions, controlled sizing, and an edge that doesn't depend on guessing market direction.
The curriculum
8 modules, step by step
60+ hours of structured video. Each module is built to be applicable the following week — not to stay theoretical.
The Greeks — desk edition
Delta, gamma, theta, vega — and also charm, vanna and vomma. How these Greeks move together as time, spot and implied vol shift. Why a delta-neutral book can bleed $200k in one day if you ignore charm. Reading Greeks as real risk exposures, not textbook definitions.
Vol skew and term structure
Shape of the vol skew (smile, smirk, sticky-strike vs sticky-delta). Term structure: contango vs backwardation of implied vol. How to read a surface, spot distortions, and know when the market is overpaying or underpaying premium. Daily-use reading tools.
25-delta risk reversal and cross-asset reads
The 25-delta risk reversal as a stress and directionality gauge. Cross-asset reading: equity vs FX vs commodities. Why a shifting 25-delta RR in EURUSD often leads the spot. Practical cases of divergence and confirmation.
GEX and dealer positioning
GEX (Gamma Exposure): calculation, interpretation, flip levels. How dealer gamma positioning constrains or amplifies intraday moves. Reading pin zones, accelerator levels, and identifying sessions where gamma mechanics dominate macro.
Directional strategies
Vertical spreads (call spread, put spread), butterflies, ratio spreads, broken-wing butterflies. Strike selection based on skew. When to prefer a butterfly over a vertical, when a ratio spread is more efficient. The trap of uncovered ratio spreads on the short tail.
Neutral strategies
Straddle, strangle, iron condor, calendar spread, diagonal. Vega vs theta vs gamma: which structure fits which vol regime. Calendar spread when the term structure is in backwardation. Iron condor only when GEX is positive and flow pins.
Sizing, risk management, theta budget
Sizing by notional vega, not by contract count. Weekly theta budget: how much you can lose on an adverse move before you cut. Dynamic stops driven by implied vol, not price. The 25%-of-theta-collected rule before any adjustment.
Real cases — post-mortems
August 2024 VIX crush: why systematic sellers blew up. April 2025 EURUSD: 25-delta RR and anticipating the move. October 2024 GBP gilts: term structure and cross-asset spillover. Each case breaks down the setup, the trap, and the pre-event read.
The difference
What you won't find anywhere else
Most options courses orbit around three topics: expiration payoff diagrams, IV percentile, and iron condors as "passive income". Everything else — the actual mechanics of second-order Greeks, the skew/term/gamma interaction, dealer flow reads, the risk reversal as a positioning gauge — is missing. Not because it's too complex, but because the instructors never practiced it.
This course is built by a trader who spent 17 years on a derivatives desk applying these concepts daily. The videos are structured like a desk onboarding: you first learn to read a book, then to manipulate it, then to anticipate. The weekly live calls walk through ongoing setups, not theoretical replays.
Concretely, you walk away with a framework to identify vol regimes, pick the right structure, size by vega, manage theta and close cleanly. No "magic strategy" — an operational framework you apply every week.
The format
60+ hours video · live calls · Q&A · Discord
60+ hours video
8 modules in a structured progression. Unlimited access, permanent replays, watch at your own pace. Quizzes and case studies per module.
Weekly live calls
One live session per week: market review, ongoing setups, reading the current vol skew and GEX. Replays available.
Unlimited Q&A
Ask about your trades, your books, your doubts. Detailed answers within 48h. No dumb questions, no filter.
Discord community
169 pro and semi-pro members. Channels by theme (options, futures, FX), setup shares, daily debriefs. No YouTube-tier noise.
The audience
Who this course is for
This course is built for traders who want to move from an intuitive approach to a structured method. The ideal profile: a semi-pro retail trader with one to three years of active practice, basic options knowledge (you know what a delta is), a clear frustration with mainstream courses, and the drive to think like an institutional trader.
It also fits vol PMs, derivatives analysts and industry professionals who want to sharpen their cross-asset reads or consolidate their understanding of GEX and risk reversals. Several current members are sell-side analysts or portfolio managers who use the live calls as a complement to their day job.
It is not suited to complete beginners who have never placed a trade, nor to anyone looking for a plug-and-play "buy/sell" signal. If you want a magic, effortless course, look elsewhere. If you want to learn to think like a pro, you're in the right place.
Verified Whop reviews
What options traders say
« The charm and vanna module finally explained why my delta-neutral books were bleeding into Friday close. Three sessions in, I rewrote my whole hedging process. »
— Retail options trader, 7 months in the program
« First course where vomma and term structure are explained in a useful way. The GEX module alone is worth the membership. »
— Vol PM, 11 months in the program
« I'd taken two other options courses before. None of them said an iron condor without reading GEX is basically selling naked tail. »
— Semi-pro trader, 5 months in the program
Ready to trade options like a pro?
Full access to the CrossVol Academy options course via Whop: 60+ hours of modules, weekly live calls, Q&A, Discord. No commitment, cancel anytime.
Join CrossVol Academy →From €82/month · 5.0/5 on 169 reviews