This podcast episode delves into the intricacies of warrant trading, exploring how retail traders can access structured products issued by banks, and highlights the unique dynamics of this one-sided market where traders operate against bank interests. Moritz explains his journey from trend following to warrant arbitrage, identifying inefficiencies such as tight spreads and slow volatility updates that he expertly capitalizes on using a systematic trading approach. The discussion reveals the high-stakes game between traders and banks, detailing how the latter employs countermeasures to close profit gaps, ultimately reflecting the complex interplay of strategy, timing, and market responsiveness.
