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How this works
Short answers to the questions the desk will raise.
- Is any of this a real market?
- No. ACME is invented. The path is a random walk you step yourself. Prices come from Black-Scholes with a vol you can see. There is no live feed and no broker on the other side.
- Why European and cash-settled?
- So the lesson stays about the promise, not about early exercise or share delivery. Plenty of listed equity options are American and physically settled. The payoff shape is the same idea.
- Where does the book live?
- In this browser. Export writes a versioned JSON envelope. Import reads that envelope back. A server restart does not wipe it. A new laptop does, unless you exported.
- What can I trade?
- ACME stock, listed calls and puts on a five-strike grid, and four named recipes. No spreads you have to assemble by hand, though you can book the legs yourself.
- Is this advice?
- No. It is a teaching desk. A winning paper trade here is a sentence you understood, not a signal.