Concept Notes· Quant
Volatility & the Vol Surface
Volatility is the one input to Black-Scholes you can't observe directly, which is exactly why it's where the trading happens. Realised vol is measured from returns; implied vol is backed out of option prices. The way implied vol varies across strike and maturity the surface is the market's view on tail risk and uncertainty over time.
Included with the Quant pack
The full concept notes is part of the Quant Research & Quant Trading pack a one-time purchase unlocks every concept, coding guide, interview playbook and take-home in this track.
already purchased? sign in →© 2026 DeskPrep. All rights reserved. Licensed for personal interview-preparation use only. Not for redistribution, resale, publication or sharing. Terms & licence.