TGViewer
Dissident Thoughts Dissident Thoughts @dissidentthoughts · 718 subscribers
Post #132 237
For anyone familiar with options, this is quite intuitive: whether you are a payer or a receiver, you always buy the swaption.

The fixed-rate payer buys the option, and the fixed-rate receiver buys it too.

The receiver does not "sell" the swap—they are simply buying an option that gives them the right to receive the fixed rate. In both cases, you are the long option holder (the buyer paying the premium).
  • ❤ 1
More from @dissidentthoughts
  1. Sep 20, 2026photo post
  2. Sep 20, 2026photo post
  3. Sep 20, 2026Personally, I dislike holding a spread as wide as the 42/50 proposed by ZH. Given the bina…
  4. Sep 19, 2026What move the vol ? A swaption's implied volatility is the price of expected rate dispersi…
  5. Sep 19, 2026For a given expiry and tenor, implied volatility varies across strikes. Two core metrics s…
  6. Sep 19, 2026photo post
Threads Profile ViewerView any public Threads profile without an account.Open ThreadLook →Writing with AI? Make it sound human.Metric37 rewrites AI drafts so they read naturally. Free AI detector, 1,500 words free.Try Metric37 →