http://Greeks.Live Chinese Community Daily Brief ===== Release Date: 2025-09-08 Overall Market Sentiment ===== The group remains cautious about Bitcoin's short-term trend, with several traders suggesting that the 110K support level might be breached again. ETH is showing even weaker performance. The market has generally observed CB negative premiums and Ethereum's failure to break the critical 5000 level, leading to a cautious outlook for the future. Hot Topics ===== • Jeff dives deep into stochastic volatility strategies, focusing on risk management methods for second-order Greeks like Vanna and Volga • A detailed introduction to volatility surface modeling techniques, covering the development and application scenarios of mature calibration frameworks such as SABR, Heston, and SVI • Highlighting the critical role of the Vanna Volga method in OTC options and exotic options pricing, as well as the high demands of smile trading on capital size and technical expertise