http://trading-volatility.com/Trading-Volatility.pdf by Colin Bennett Implied vs RealizedVol cone shows how realized is more volatile than implied Vol as a HedgeDecomposing long vol: A poor hedge even beyond it's expected overpricing Term Structure Term structure supply/demandLooking at variance vs implied vol term structureComparing term structuresRelationship of skew and term structure SkewReasons for skewMeasuring skewSkew is steeper in nearer dated4 skew regimes and their deltasSkew trading Pairs tradingWeighting pair trades Dispersion and correlationStructural bid for correlationCorrelation swap trades below implied corr Weighting dispersion