Module 5 · Lesson 23 · 8 min

Do not add the underlying APR to the implied yield

What you'll be able to do

  • Explain which cash flow a PT holder owns and which one they sold.
  • Calculate what a PT really pays, and show with numbers why "implied + underlying" overstates it.
  • Spot which APY on a Pendle screen belongs to which position, and where "fixed + underlying" headlines come from.

This course is for members.

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