{
 "spec": "wiki-changes/1",
 "site": "options.wiki",
 "origin": "https://options.wiki",
 "reviewed": "2026-08-27",
 "generated": "2026-09-03",
 "note": "Dated content-change events, newest first. Poll this instead of re-crawling.",
 "entries": [
  {
   "date": "2026-08-27",
   "type": "expanded",
   "url": "https://options.wiki/",
   "note": "Expanded to 150 defined terms and 51 reference tables across 10 sections. Added a Pricing models section covering the Black-Scholes-Merton inputs and closed forms with continuous dividend yield, Black-76, the Cox-Ross-Rubinstein and trinomial lattices with measured convergence, the step-size bound that keeps the risk-neutral probability admissible, American exercise and the early-exercise boundary read off a lattice, the Bjerksund-Stensland approximation with its measured gap to a converged tree, Monte Carlo with antithetic variates and deterministic stratified sampling and the standard error of each, explicit, implicit and Crank-Nicolson finite differences with the explicit stability boundary demonstrated rather than described, and put-call parity for American options as a two-sided inequality. Added an Exotics section covering barriers with the Reiner-Rubinstein closed forms and in-out parity, digitals and their static replication with a tight vertical, geometric and arithmetic Asians, lookbacks, cliquets, autocallables, compound options, choosers and the quanto adjustment. Added a Market microstructure section covering quoting conventions, the bid-ask spread in volatility terms against price terms, the tick regime, market-maker inventory, open interest against volume, the OCC clearing and margin flow, exercise cut-offs and contrary instructions, the settlement reference against the closing print, and how a spread order is legged. Deepened the Greeks section with the full second- and third-order set in closed form, dual delta and dual gamma, the identity Vega = Gamma*S^2*sigma*T and the hedge singularity it creates, delta-gamma-vega hedging as a linear system, a profit and loss attribution identity worked term by term on one reprice, theta decomposed into its three components, and pin risk quantified. Deepened the Volatility section with Newton on vega and why it fails deep out of the money, the surface and its no-arbitrage constraints, sticky strike against sticky delta against sticky moneyness and the delta each implies, SABR, SVI, Dupire local volatility, variance swaps and the log-contract replication, the CBOE VIX method with its measured discretisation error, volatility cones, term-structure interpolation in variance space and forward variance. Added discrete-dividend against continuous-yield repricing, the borrow rate inside the forward, the box spread as a financing instrument, and the gap between the risk-free rate and an account's funding rate. Added Regulation T formulas by structure, the short-straddle treatment, the portfolio margin stress grid, SPAN conceptually, the capital-efficiency ratio between a defined-risk spread and its naked equivalent, and assignment-cascade arithmetic. Every worked figure in the new material was recomputed in double precision with the normal cumulative distribution evaluated as 0.5*(1+erf(x/sqrt(2))) and cross-checked against the Abramowitz and Stegun 26.2.17 approximation; all closed-form Greeks were verified against central finite differences, barrier prices against in-out parity across 112 strike-and-barrier combinations and against a Crank-Nicolson solve, the Bjerksund-Stensland implementation against a published benchmark, and payoff figures against a brute-force scan at 0.0001 granularity."
  },
  {
   "date": "2026-08-27",
   "type": "expanded",
   "url": "https://options.wiki/",
   "note": "Expanded to 74 defined terms and 28 reference tables across 7 sections. Added complete payoff algebra - maximum profit, maximum loss, breakevens and an explicit payoff expression - for every standard structure including ratio spreads, synthetics, box spreads and the jade lizard; closed-form Greeks with verified worked values, position Greeks aggregation, delta-neutral hedge ratios and gamma scalping arithmetic; a new Volatility section covering time scaling, realised volatility estimators, forward implied volatility, IV rank versus IV percentile and event volatility decomposition; a new Probability and expectancy section covering probability of touch versus in the money versus profit, expected value, Kelly sizing and win-rate algebra; exercise, settlement and dividend early-exercise tests; and Regulation T buying-power arithmetic. Every worked figure recomputed and cross-checked against a brute-force payoff evaluation."
  },
  {
   "date": "2026-08-26",
   "type": "published",
   "url": "https://options.wiki/",
   "note": "Initial publication: 15 terms, 14 tables across 5 sections, plus calculators."
  }
 ]
}