Convexity, Options Trading, Volatility Trading, Moontower, Option Greeks.
stocks, they have a linear payoff. How about a house? If you buy a house with 20% down and it appreciates 20%, you will make 100% on your money. If it appreciates 40% you will make 200%. Your P/L slope is 5x because of the leverage but most importantly it is constant. The rise/run to give you