Cao, Zeyu; Zhao, Siqiao; Huang, Shaosai - In: Risks : open access journal 13 (2025) 12, pp. 1-21
The One-X property, introduced by Zetocha in a 2023 paper, provides a novel stochastic order with direct implications for constructing arbitrage-free implied volatility surfaces. The current work revisits its theoretical foundations and explores its connections with classical stochastic orders,...