Mizan Nurani

Derivatives, equity, FX, fixed income and alternatives analyst

Gamma of the SPY 45-day 780 call, by spot and time to expiry.

Selected work

One project for each field I am applying to, each with a Python research package behind it and real market data: option chains for the pricer, daily stock prices for the backtest, SEC filings for the valuation. The pricer and the valuation run live in your browser.

Derivatives

Options pricing engine

Black-Scholes, a binomial tree and Monte Carlo that agree within their error bars, Greeks computed four ways, and arbitrage-free SVI volatility surfaces fitted to SPY and QQQ option chains.

Open the pricer

SPY 45-day 780 call

One contract, 100 shares

Strike: $780.00
Implied vol (surface): 12.61%
Premium, per share: $15.07
Premium, per contract: $1,507
American price, per share: $15.07
Delta: 53.9% / 54 shares
Vega, per vol point: $108.54
Theta, per day: −$19.87

Spot $778.57 at the October 9, 2026 close, forward $782.62. Vol from the fitted SVI surface, rate 4.18% from SPX put-call parity. Vega and theta per contract.

Asset management

Pairs trading backtest

Distance and cointegration pairs on large US stocks, with multiple-testing control, realistic trading costs and an out-of-sample test sealed until the rules were frozen, then run once. Neither strategy covers its costs.

Open the backtest

The distance strategy, frozen rules

Net Sharpe, sealed test: −0.28; Design period: −0.10
Edge per trade: +12.0 bp; Before 15.7 bp of costs
Stopped out: 161; Against 96 that converged

Distance, the main strategy
Cointegration, the variant

Cumulative net P&L on capital, booked as each trade closed, from January 1, 2022 to October 23, 2026: the sealed holdout, run once. Source: pairs-trading, Mizan Nurani.

Equity research

Per-share value by method. Source: SEC filings, company guidance, Yahoo Finance; author’s calculations.

Marriott valuation

A fee-driven DCF anchored to Marriott’s 2026 guidance, with scenarios, a reverse DCF and peer multiples. Every input traces back to a filing.

Share price: $359; Oct 2 close
DCF value: $230; −36% vs price
Price implies: 14%; fee growth a year to 2030

Open the valuation

Experience

Sep 2025 to Aug 2026

Mauritius

Absa Mauritius

Global Markets and CIB Rotational Program

One-year graduate program in Absa’s Corporate and Investment Banking division, contributing to capital markets and FX derivatives work.

FX derivatives
Capital markets
Sustainable finance

Beacon Media

May 2023 to Jul 2023

Summer Analyst, Dubai

Financial analysis and Excel modeling.

JW Marriott

Aug 2022

Summer Intern, Mauritius

Financial analysis.

Savoy Dubai Hotels

Jul 2020

Intern, Dubai

Sales.

IBM

Nov 2019

Job Shadow, Dubai

About

I studied business at Babson College with a focus on finance, then spent a year in Absa’s Global Markets and Corporate and Investment Banking graduate program in Mauritius, working across FX derivatives, capital markets and sustainable finance.

Before that I interned in financial analysis at Beacon Media in Dubai and at JW Marriott in Mauritius, which is why the equity research project on this site values Marriott.

The projects here are how I study: each starts from a question a trading desk, a portfolio manager or an investment committee would ask, uses real data, and shows its working.

Education: Babson College; Bachelor’s degree, Business Administration and Management (finance); Wellesley, Massachusetts
Certifications: Bloomberg Market Concepts, Bloomberg; Mergers & Acquisitions Finance; Finance Accelerator
Toolkit: Excel modelingBloomberg TerminalPython (NumPy, pandas)PowerPoint

Contact

Open to analyst roles in derivatives, asset management and equity research.

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