Everything the editions assume you know.
101 published pages · page index read 19 Sep 2026 from the site’s own REST API
Eighty-nine free lessons across eight modules, from how an order book moves a price to how a market regime is inferred. No account, no email wall, and every published page is linked below.
Lessons
89
55 on the numbered path, 34 published outside it
Modules
8
each with its own index page
Reference and tools
4
a glossary, two calculators, a starter kit
Published pages
101
every one of them linked on this page
Start here
If the editions read like another language, work through the four steps below in order — it takes about an hour and puts a lesson, an edition and the live index side by side. After that, dip into whichever module the day’s report sends you to.
Four steps, about an hour
In this order, once
- Start here — what this publication is, in five minutes
- Open the Terminal — today’s reading, the index and the regime
- Read today’s SomerQuant Daily — with the Terminal open beside it
- Begin Module 01 — and come back whenever a term needs unpacking
How this index is built
Read from the site, not hand-maintained
The eight modules and their numbered lessons come from the module index pages themselves, in the order those pages list them. Lessons marked with an em dash are published but carry no curriculum number; they are filed under the module their subject belongs to so that they can be reached, and that filing is editorial rather than part of the numbered path.
The curriculum
89 lessons across 8 modules, in the order they were written, with every published page listed.
Module 01 — Foundations of Market Structure
How exchanges, market makers and order books actually move a price, and how to read a chart, a volume profile and a level without guessing. Start here if the editions read like another language.
10 lessons
- 1.1Understanding Market Structure~12 min
- 1.2The Language of Candlesticks
- 1.3Volume Analysis and Market Breadth~14 min
- 1.4Support Resistance and Chart Patterns~14 min
- 1.5Trend Identification & Moving Averages
- 1.6Sector Rotation and the Economic Cycle
- 1.7Pre-Market Routine and Watchlist Building~14 min
- 1.8Technical Analysis Foundations~15 min
- —How to Read a Stock Chart for Beginners
- —Order Types & Execution Quality~15 min
Module 02 — Options Mechanics
What a contract is, how it is priced, what each Greek measures and what happens at expiration. This is the vocabulary every options-flow report in the archive is written in.
15 lessons
- 2.1What Is Options Trading? A Complete Beginner’s Guide
- 2.2Options Basics — Understanding the Greeks
- 2.3Options Pricing & the Black-Scholes Framework
- 2.4The Greeks Deep Dive — Delta, Gamma, Theta, Vega
- 2.5Implied Volatility — What It Is and Why It Moves
- 2.6Options Strategies — Spreads, Condors, Butterflies
- 2.7Early Assignment, Pin Risk & Expiration Mechanics
- 2.8Margin & Buying Power for Options Traders
- —What Is a Put Option? Explained Simply
- —Options Strategies for Day Traders
- —Strike Selection — OTM ITM and ATM Decoded
- —The Greeks Masterclass: Delta, Gamma, Theta, Vega, and Beyond
- —LEAPS and Long-Duration Options Strategy
- —0DTE Options: Strategy, Risk, and Execution Framework~14 min
- —Options Market Microstructure
Module 03 — Volatility & IV Analysis
Implied volatility as a surface rather than a single number: term structure, skew, and what it means when realised and implied come apart. The half of the tape that is not direction.
8 lessons
- 3.1Volatility Surface & Term Structure
- 3.2Realized vs Implied Volatility: Reading the Divergence~12 min
- 3.3VIX Term Structure: Reading the Front Month vs Back Month~12 min
- 3.4Volatility Skew and the Options Smile~12 min
- 3.5When Volatility and Equity Regimes Disagree~12 min
- —Implied Volatility Surface and the Skew
- —Volatility Regimes and the VIX Complex
- —Earnings Volatility: Straddles, Strangles, and Event Pricing
Module 04 — Flow Reading & Dark Pools
Where the prints come from, what a block and a sweep each mean, why dark prints arrive late, and how to size them in dollars rather than shares. The longest module, and the one the Daily leans on most.
10 lessons
- 4.1Reading Options Flow: Sweeps, Blocks, and Unusual Activity
- 4.2Dark Pool Activity and Institutional Flow Interpretation
- 4.3Reading Dark Pool Flow and Dealer Gamma Exposure (GEX)
- 4.4Options Flow vs Equity Flow Divergence
- 4.5Weekly vs Monthly Options Flow Patterns
- 4.6Reg ATS and Why Dark Pool Prints Lag~11 min
- 4.7Reading Block Notional: Why Dollars Beat Shares~10 min
- 4.8When Dark Pool and Options Flow Agree: The Two-Layer Signal~12 min
- 4.9NBBO and the Fragmentation of US Equity Markets~12 min
- 4.10Flow Confirmation Frameworks
Module 05 — Regime Detection
What a market regime is, how a posterior is read, what a transition looks like before it completes, and why the same observation means different things in different regimes.
10 lessons
- 5.1Market Regimes and Adaptive Strategy Selection
- 5.2Posterior Interpretation & Calibration~13 min
- 5.3Regime Transitions & Leading Indicators~14 min
- 5.4Multi-Asset Regime Models~14 min
- 5.5Regime-Conditional Position Sizing~13 min
- —The Federal Reserve and Interest Rate Mechanics
- —Reading the Bond Market Like a Macro Trader
- —Currency Markets and Their Equity Implications
- —Commodities as Leading Indicators
- —Intermarket Analysis: Reading Cross-Asset Signals for Edge~14 min
Module 06 — Statistical Inference
Standard deviations, rolling baselines, Bayesian updating and confidence intervals — the arithmetic under every number the index publishes, with its limits stated rather than hidden.
9 lessons
- 6.1Sigma Deviation as Normalized Signal~13 min
- 6.2Rolling Baselines & the Lookback Tradeoff~13 min
- 6.3Bayesian Updating in Trading Decisions
- 6.4Hypothesis Testing for Trading Strategies
- 6.5Confidence Intervals & Options Pricing
- —Backtesting Fundamentals: Avoiding the Overfitting Trap
- —Probability Theory for Options Pricing
- —Correlation, Dispersion, and Portfolio Construction
- —Statistical Edge: Building and Validating Trading Systems
Module 07 — Trading Psychology & Risk Discipline
Risk of ruin, position sizing, the arithmetic of a drawdown, and the behaviour that undoes all three. The module about the reader rather than the market.
18 lessons
- 7.1Risk of Ruin & Bankroll Management
- 7.2Position Sizing — Kelly, Fractional, Fixed-Risk
- 7.3Drawdown Mathematics — Why -50% Needs +100%
- 7.4The Psychology of Cutting Losses
- 7.5Building Discipline — Pre-Trade Rules & Post-Trade Reviews
- 7.6Tilt Recovery: Trading Through Emotional Damage~15 min
- 7.7Personal Trading Journeys: Lessons From the Tape~14 min
- 7.8Building a Trade Review Notebook~15 min
- —Risk Management — Your Trading Armor
- —Position Sizing — The Art of Survival in Markets
- —Trading Psychology — Mastering Your Mind Under Duress
- —Market Psychology — The Invisible Hand
- —Cognitive Biases That Destroy Trading Accounts
- —Prospect Theory and Loss Aversion in Trading
- —Stress Physiology: The Neuroscience of Trading Under Pressure
- —The Cardinal Rules of Day Trading
- —Top 10 Dos and Donts for Day Traders
- —Expected Value and the Kelly Criterion
Module 08 — Framework Integration
How the other seven fit together: building a thesis, choosing by regime, reading a SomerQuant Weekly closely, and writing the whole thing down.
9 lessons
- 8.1Building a Trading Thesis — From Signal to Position
- 8.2Regime-Conditional Strategy Selection
- 8.3Multi-Timeframe Confluence — Aligning Daily/Weekly/Monthly
- 8.4Building a Trading Plan~14 min
- 8.5Reading the SomerQuant Weekly – How to Use It~14 min
- 8.6MPI + HMM Regime-Conditional Composites~13 min
- —The Trading Journal: A Complete System for Deliberate Improvement
- —Building Anti-Fragile Trading Systems
- —Tax Implications of Active Trading
Glossary and tools
Four pages that are not lessons: the trading glossary, two calculators and the starter kit. They belong to no module and are listed here so that nothing published under the Academy is unreachable.
4 pages
Read one against the live tape
A lesson lands differently with the day’s reading open beside it.
Education, not advice. The Academy explains how the tape is read, how options are priced and how the regime classifier is built. It is teaching material. Nothing in it is a recommendation to buy or sell any security, nothing in it is personalised to you, and no lesson describes what anyone should do with an account.
Options carry risk and are not suitable for every investor. Read the Characteristics and Risks of Standardized Options before acting on anything you read anywhere.
Lessons are written and revised on their own schedule. Where a lesson publishes a reading time or a last-updated date, that figure is the lesson’s own; this page copies it and never computes one.
SomerQuant is a publication of AZTMM HLDGS LLC. © 2026 AZTMM HLDGS LLC. All rights reserved.