The Quant Course by Euan Sinclair & James Hodges

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You don’t beat options markets with slogans or hot takes. You win by understanding how options gain and lose value—mathematically, mechanically, and behaviorally—and then building a robust process around that understanding. The Quant Course by Euan Sinclair & James Hodges is a 6-week, 12-session intensive that teaches the real edge in options: identifying and exploiting volatility mispricing with clear theory and disciplined application. If you’ve been looking for a course that treats you like a serious practitioner, not a signal follower, this is it.

Overview this course

Across two structured parts, The Quant Course takes you from first principles to advanced application:

• Part One grounds you in the language and logic of options. You’ll build intuition with Black–Scholes and a simple binomial model, learn what the option Greeks actually measure (and where common myths go wrong), distinguish historical from implied volatility, and understand why skew can make a “correct call” lose money. You’ll also cover directional option trading—how to express trend views efficiently with options instead of stock.

• Part Two is about turning theory into a durable workflow. You’ll translate the calculus into decisions: building and testing trading rules, aligning position structure to your thesis, managing risk through the life of a trade, and recognizing when the volatility surface itself is the opportunity. Expect a strong emphasis on model thinking, measurement, and iteration so your process improves with data—not hope.

The format is intensive but humane: sessions are sequenced to layer concepts without cognitive whiplash, and every idea is tied back to a concrete “what would you trade and why?” discussion. You won’t memorize formulas for their own sake; you’ll use them to make sense of price behavior and to design strategies that survive contact with the market.

Why should you choose this course?

Because most options education stops at patterns, platitudes, or partial truths. This program is different on purpose:

1. Taught by practitioners who write and trade. Euan Sinclair and James Hodges bring academic clarity and real-world pragmatism. You’ll learn why the math matters and how far to trust it.

2. Theory in service of edge. From the first week, you’ll see how models map to risk, how Greeks map to P&L, and how volatility mispricing becomes a tangible opportunity set.

3. Greeks without the myths. Delta isn’t just “stock equivalent,” gamma isn’t just “fast delta,” and theta isn’t “the enemy.” You’ll learn what each term measures locally and how those sensitivities evolve as markets and time move.

4. Volatility literacy. Historical vs. implied, term structure, skew—how each one impacts the position you’re holding (or thinking about holding). This is where many otherwise smart traders leave money on the table.

5. Directional views, quant discipline. When trend trading with options makes sense, when it doesn’t, and how to structure directional opinions with defined risk and realistic expectations.

6. A complete decision loop. Hypothesis → instrument choice → sizing → management → exit → review—codified so your next trade benefits from the last one’s lessons.

If you want to graduate from “I think this stock goes up” to “here’s the most efficient, risk-aware way to express this view,” you’re in the right room.

What You’ll Learn

Below is a high-level map of the competencies you’ll build. Use it to see how the pieces interlock into one coherent approach.

Option Pricing, in Plain English (and useful math)

• Black–Scholes as a model of relationships. You’ll use it to understand the directional pull on option prices from time, rate, and volatility—not as a religion, but as a baseline.

• A toy binomial model for intuition. Walk the tree to see how discrete up/down moves aggregate into today’s premium—and why changing volatility expectations changes the whole tree.

• What can move? Recognize the levers that matter for your specific trade and timeframe: underlying price, time decay, forward rate assumptions, and especially volatility.

Greeks, Properly Understood

• Delta & gamma. How position “stockiness” changes with price, why positive gamma wants realized movement, and when gamma risk can overwhelm your thesis.

• Theta. The conditional nature of time decay (theta isn’t a tax; it’s the price of your optionality given current vol and moneyness).

• Vega. Sensitivity to implied vol; cross-currents between vega and gamma; how vol-of-vol shows up in your P&L.

• Rho, vomma, vanna. Secondary and cross-sensitivities you can’t ignore in volatile regimes (yes, skew shifts move you even if price doesn’t).

Historical vs. Implied Volatility

• Estimating historical vol. Windows, weighting schemes, and the traps in regime shifts.

• Implied as consensus expectation. Reading the surface: term structure, skew, and smile—and what those shapes imply about market beliefs and tail demand.

• The spread that matters. Why the HV–IV relationship is the starting point—not the whole argument—for premium buying or selling.

Directional Option Trading

• Expressing trend views. When calls/puts, verticals, or calendars are the right tool; why “cheap” options are often cheap for a reason; choosing moneyness to fit your thesis and timing.

• Risk framing. Clear invalidation levels, time-to-decision vs. time-to-expiry, and how to avoid paying for more optionality than your setup requires.

Implied Volatility Skew & Its Consequences

• Skew as supply/demand. How downside put demand and upside call scarcity distort payoffs.

• “Right call, wrong result.” Mechanics of losing despite directionally correct views (skew shifts, vol crush, carry) and how to prevent it with structure and timing.

The Fundamental Theorem of Option Trading

• Volatility must be mispriced. That’s the edge. The course teaches you to detect mispricing, estimate your advantage, and decide whether it’s worth deploying capital—given your risk budget and slippage realities.

From Theory to Practice (Part Two Emphasis)

• Model → hypothesis → trade. Turn insights from the Greeks and the vol surface into testable rules for entries, sizing, and exits.

• Strategy families, compared. Long vol vs. short vol, calendars/diagonals vs. verticals, directional vs. dispersion; when each has a statistical tailwind.

• Lifecycle management. How sensitivities evolve; when to roll, trim, or convert; why holding to expiry is often a separate bet you didn’t mean to make.

• Measurement and review. Expectancy, drawdown control, and regime tagging (your performance is not one number; it’s a distribution across conditions).

Case-Study Threads You’ll Work Through

• Trend with options: Using delta and theta intelligently to ride a move without overpaying for time or vol.

• Skew-aware structures: Turning a bullish thesis into a spread that benefits from realistic IV behavior instead of fighting it.

• Event risk: Pricing and positioning around earnings, data releases, or macro events; why the vol market often knows more than the price chart suggests.

• When not to trade: Recognizing low-edge conditions and preserving mental and financial capital.

Meta-Skills You’ll Take With You

• Clarity of language. Speak options accurately: it sharpens thinking and prevents costly misunderstandings.

• Risk literacy. Define risk before entry, not after; size to survive, then to thrive.

• Hypothesis discipline. Start with what must be true for your trade to work—and exit when that stops being true.

• Iterative improvement. Build a feedback loop so every session refines your edge.

Important note: This is an education program, not financial advice. You’ll learn frameworks to evaluate and manage risk; how you apply them is up to you.

Who Should Take This Course?

1. Serious retail traders who want to replace rule-of-thumb options trading with principled, testable methods.

2. Directional equity traders seeking to express views with better capital efficiency and defined risk.

3. Quant-curious learners comfortable with basic algebra/calculus and eager to build intuition without getting lost in proofs.

4. Risk managers and portfolio tinkerers who need to understand how options behave inside a broader book.

5. Developers and analysts building tools or models who want a tight connection between code and trading reality.

6. Educators and team leads looking for a rigorous, comprehensible curriculum to level up a desk or study group.

If you crave intellectual honesty, practical structure, and instructors who can explain why the market did that, you’ll fit right in.

Conclusion

Options aren’t a casino—they’re a set of contracts whose value responds predictably to a handful of measurable forces. When you understand those forces and how they interact, you can design trades that fit your thesis, timeframe, and risk budget—and you can spot when volatility is mispriced enough to matter. The Quant Course by Euan Sinclair & James Hodges gives you that understanding and the discipline to use it.

Seats are limited for the next intake—secure yours and begin turning mathematical clarity into trading decisions you trust.