Robert Cernera

Senior Engineer

About

Rob joined Option Alpha in 2018 after being one of the first beta users of the original Alta5 platform. Prior to Option Alpha, Rob was an Interactive Operator and incident response specialist at the United States Department of Defense. He holds an MS in Cyber Operations & Electronic Warfare from the Air Force Institute of Technology. When he's not bot trading, Rob enjoys hanging out with his wife and son.

Education

References

Experience

Research Insights

Black-Scholes Model: Why Option Alpha Uses Historical Volatility to Calculate EV

This study examines the Black-Scholes-Merton model's flexibility in calculating expected value. We explore how this formula allows us to calculate probabilities and expected values in multiple ways, and we’ll compare the different methods to show why Option Alpha uses historical volatility.

Research Insights

How to Calculate Expected Value: Simple EV, Simple-Partial EV, and Real EV

We share the three EV calculations you can use with the information available in any brokerage platform and compare the methods to determine their accuracy.

Research Insights

Trade Ideas Probability & Performance: Expected Value vs. Realized P/L

We analyzed 130k Trade Ideas positions to visually compare each trade's realized P/L to its Expected Value at trade entry.

Research Insights

0DTE Options: Strategy Insights from the Top Performing Trades

We analyzed 230k 0DTE options trades to determine what successful Option Alpha traders are doing and the key metrics that influenced profitable strategy setups.

Research Insights

0DTE Options Strategies: Insights from 25k Trades

We analyzed over 25,000 0DTE option positions traded in the autotrading platform to assess what worked and how traders set up short-term trading strategies.

Research Insights

Bid-Ask Spread Anomalies: 5 Questions Answered

We answer five key research questions about bid-ask spread volatility and explain how these answers can threaten or inform your trading decisions.

Research Insights

Bid-Ask Spread Expectations

What is the "personality" of your favorite ticker? Do you know what the bid-ask spread of the specific underlyings you trade should resemble? Learn about bid-ask spread expectations here.

Research Insights

Bid-Ask Spread Anomalies: Risk and Opportunity

Learn how bid-ask spread anomalies bring unique risks and opportunities in options trading with this SPY case study.

Research Insights

Bid-Ask Spread Volatility Explained

This case study examines the intraday price volatility of a TLT iron condor to illustrate the forces at play beyond the options Greeks affecting a position's bid-ask spread.

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