About
What this is
A daily practice tool for an Asian exotic-options desk. It tests the two things that get rusty fastest and are hardest to fake: mental arithmetic under mild time pressure, and recall of the market conventions and structures the desk trades.
How the daily set is built
- 20 questions, mixed across five categories rather than blocked, because that is what a trading day looks like.
- Generated from today's date. The whole set is a pure function of the date, so every visitor sees the same questions today. Nothing is fetched, so it cannot go stale mid-day.
- Weighted toward exotics. The quota is Math 8, Markets 5, Asia Derivatives 7.
- Every answer comes with the method. Feedback gives the correct value, the reasoning, a rule of thumb to memorise, and the source. A right answer reached the wrong way is still worth correcting.
Time modes
| Mode | Budget | Purpose |
|---|---|---|
| Learn | untimed | Untimed. Read the explanation and the anchor without pressure. |
| Drill | 30s / question | 30 seconds a question. Comfortable, but not idle. |
| Desk | 10s / question | 10 seconds a question. What the floor actually feels like. |
Generators in the pool
47 active, across 3 groups. Sub-group only applies inside Asia Derivatives, where listed contracts, OTC exotics and the vol surface are kept apart.
| Generator | Group | Sub-group | Tier | Tests |
|---|---|---|---|---|
| gamma-pnl | Math | greeks | 1 | Gamma PnL from a gamma quoted per 1 percentage point and a percentage move. |
| delta-pnl | Math | greeks | 1 | Delta PnL, to keep the unit convention of a Greek quoted "per 1pp" sharp. |
| expected-move | Math | greeks | 2 | One-day and one-week expected move from annualised vol (vol/16 and vol/7). |
| delta-gamma-pnl | Math | greeks | 3 | Total PnL split into the linear delta term and the quadratic gamma term. |
| pnl-attribution | Math | greeks | 4 | Full overnight attribution across delta, gamma, vega and theta. |
| put-call-parity | Math | put-call-parity | 1 | Find the missing leg of put-call parity, correct to the penny. |
| put-call-parity-structure | Math | put-call-parity | 2 | Pick the correct rearrangement of parity for a given missing leg. |
| bp-to-money | Math | basis-points | 1 | Basis points of notional to money, across the regional currencies. |
| money-to-bp | Math | basis-points | 2 | Money back to basis points of notional. |
| index-bps-to-money | Math | basis-points | 3 | A basis-point move in an index level, converted to money through the point value. |
| fx-conversion | Math | fx | 1 | Convert an amount between currencies at a supplied rate. |
| fx-triangulation | Math | fx | 3 | Derive a cross rate from two USD legs. |
| fx-pip-value | Math | fx | 2 | Value of one pip on a given notional, in the quote currency. |
| forward-rate | Math | forwards | 3 | Derive an FX forward rate from spot and an interest-rate differential. |
| forward-premium | Math | forwards | 2 | Which leg of an FX pair trades at a forward premium or discount. |
| forward-roll-cost | Math | forwards | 4 | Cost in money of rolling a hedge forward by one tenor. |
| vega-pnl | Math | vol | 1 | Vega PnL from vega quoted per vol point. |
| price-move-to-vol | Math | vol | 2 | Express a percentage price move in vol points. |
| delta-strike | Math | vol | 3 | Approximate the strike for a given delta. |
| breakeven-vol | Math | vol | 4 | Annualised breakeven vol from gamma and theta. |
| forward-vol | Asia Derivatives | exotic | 3 | Forward vol between two tenors from spot vols. |
| vol-basis-pnl | Asia Derivatives | exotic | 4 | Cost of a cross-market vol basis, such as A50 versus CSI 300. |
| ticker-name | Markets | tickers | 1 | Ticker to company name. |
| ticker-sector | Markets | tickers | 1 | Ticker to sector. |
| ticker-cap-band | Markets | tickers | 2 | Ticker to market-cap band. |
| ticker-index-membership | Markets | tickers | 2 | Whether a name is in the STI. |
| ticker-liquidity | Markets | tickers | 3 | Ticker to average daily turnover band. |
| ticker-hedgeability | Markets | tickers | 4 | What listed hedge exists for a single-name position. |
| session-open-at-time | Markets | microstructure | 1 | Is a market open at a given SGT time? |
| stamp-duty | Markets | microstructure | 2 | The stamp-duty position per market. |
| clearing-house | Markets | microstructure | 2 | Which body clears each market. |
| sgx-closing-routine | Markets | microstructure | 3 | Sequence the phases of the SGX closing routine. |
| calendar-event | Markets | market-knowledge | 1 | Which holiday periods close which Asian markets. |
| access-channel | Markets | market-knowledge | 2 | Stock Connect, QFII and the H/A share relationship. |
| central-bank | Markets | market-knowledge | 2 | How the regional central banks differ. |
| index-construction | Markets | market-knowledge | 2 | Index construction and membership. |
| contract-point-value | Asia Derivatives | listed | 1 | Point value of an index futures contract, in money. |
| contract-notional | Asia Derivatives | listed | 2 | Notional of one index futures contract at a given level. |
| contract-expiry | Asia Derivatives | listed | 2 | Expiry convention per index futures contract. |
| contract-cross-listed | Asia Derivatives | listed | 3 | Which venues list the major Asian index contracts. |
| exotic-identify | Asia Derivatives | exotic | 2 | Identify the exotic structure from its payoff mechanics. |
| exotic-greeks | Asia Derivatives | exotic | 3 | The correlation, vol and gamma position implied by a structure. |
| exotic-stickiness | Asia Derivatives | exotic | 4 | How a spot move changes ATM vol under each stickiness convention. |
| exotic-hedgeability | Asia Derivatives | exotic | 3 | Which risks can be hedged on-exchange in Asia, and which cannot. |
| exotic-convention | Asia Derivatives | exotic | 3 | Averaging, fixing and delta conventions as sources of risk. |
| exotic-where-sold | Asia Derivatives | exotic | 2 | Which structured products dominate each Asian market. |
| vol-surface-recall | Asia Derivatives | vol-surface | 3 | The shape of the Asian vol surface, skew, term structure and cross-market basis. |
Disabled generators
fx-recall-level — Disabled: the FX level in the data snapshot is illustrative, not verified. Recall questions would be unfair. Set verified to true in src/data/fx.json once the levels have been checked against a source.
What is deliberately missing
- No leaderboard, no accounts, no server. The site is static. The competitive element is against your own personal best. Scores are not transmitted anywhere, which also means they cannot be compared between users.
- No streaks. Excluded by decision. Progress is measured by per-category accuracy and personal bests instead, which say something about skill rather than about habit.
- No live market data. Levels are frozen in the repository. Conversion and triangulation questions supply the rate in the question, so they never depend on a stale number. The one drill that would ask you to recall a level is disabled until the data has been verified.
- No pricing library. The drills test conventions, directions and rules of thumb, not Greeks computed from a model.
Your data
Progress is stored in this browser's local storage. It does not follow you to another device and clearing site data will clear it. Use the panel below to keep a backup.
Known gaps
- The ticker drill covers SGX names only. Hong Kong, Japan and Australia need their own verified datasets before those rows can be added.
- The ASX market page carries an unverified daylight-saving caveat, so ASX session-time questions are not asked.
- FX levels are illustrative rather than verified.