Parallax Volatility Advisers, L.P. is a distinguished financial investment firm headquartered in San Francisco, California. Established in 1996, the company has carved a niche in the complex domain of volatility trading, managing investments tied to the fluctuations of financial markets. The firm primarily serves institutional clients, including hedge funds, pension funds, and other major financial institutions, offering sophisticated strategies designed to achieve returns with low correlation to broader asset classes. The core of Parallax's investment philosophy is a quantitative approach that leverages advanced mathematical models and proprietary algorithms. This methodology enables the firm to identify and capitalize on opportunities within the volatility space, actively trading derivatives and related financial instruments.
The firm's expertise is rooted in a disciplined investment process and a profound understanding of market dynamics, which has been cultivated over more than two decades of operation. Parallax Volatility Advisers manages a portfolio of funds, including the Parallax Master Fund, Parallax Fund, L.P., and Parallax Offshore Investors Fund Ltd., collectively known as the 'Parallax Core' funds. These funds employ a global relative value volatility trading strategy, targeting attractive risk-adjusted exposures through a variety of instruments like US and non-US options contracts. The firm is managed by its managing principals and owners, William Bartlett, who serves as the Chief Executive Officer, S. Daniel Hutchison, the principal portfolio manager, and Jill Armstrong, the Chief Operating Officer. Together, they guide the firm's strategic direction, with a focus on delivering superior investment returns while implementing robust risk management protocols.