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Which of the following statements is NOT true about the volatility smiley , choose the correct answer: Curvature is measured using a butterfly Determine if

Which of the following statements is NOT true about the volatility smiley, choose the correct answer:

Curvature is measured using a butterfly Determine if the market gives more probability to a rise or fall of the underlying Allows to obtain the implicit volatility in the price of the options It is quoted based on the gamma of an option.

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