Arbitrage-free volatility surfaces

VF007 · Volatility forecasting and options · Lesson 7 of 8. Twelve interactive steps, each with its own guided explanation.

SVI, SSVI, SABR, Heston and local vol fitted to real SPX quotes, then a neural surface with and without no-arbitrage guardrails.

Every step uses real market data. This is education about models and their assumptions, not financial advice.

Real SPX implied volatilities across strikes for a 24-day maturity, against the single flat Black–Scholes volatility.

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