Beginning with the current macro and volatility backdrop, the discussion will examine three distinct market environments: low-volatility, normal, and stressed markets. For each, IMC will present a practical options strategy, explaining why it is suited to that environment and the key risks and trade-offs involved.

The session concludes with a deep dive into stressed markets, where elevated skew and convexity create both challenges and opportunities for asset managers. Using EUR/USD as an example, attendees will see how investors can capitalize on a repriced volatility surface without taking on excessive premium or convexity risk.