i think so,a high background in math is necessary to well understand new products and to learn the ocean of existant strategybut sometimes quant position != research and was more fonctionnal for being derivative trader...

Hull is my favorite for the transversal aspect f modelisingfor a more math point of viewi used "Martingale Methods in Financial Modelling" by Musiela & Rutowski

<t>Hello this is my first threadAbout the smile on which i work by the pastIf you want to be short in your understandingWe can say that usually the vol is being determined by a unique parameter: the time (t)But in fact, in the reality of the market, vol is linked by the strike alsoThat’s why v(t,K)A...