请问Volatility skew和Volatility smile不是一个东西吗？
Jeffinsin concurs and adds that the volatility smile and skew typically have identical shapes whenever the market price of hedging is rising.
C is incorrect. Jeffinsin’s statement is incorrect. Volatility skew tends to steepen whenever the market price of hedging is rising, which causes its shape to be different from the volatility smile.
