Projects
Each project is a body of work — papers, code, data, media, sometimes a finished product.
Calibrating the dynamics an option surface leaves open
European prices identify the risk-neutral marginals but not the transition law connecting them. SANOS-Evolve fixes an arbitrage-free surface, then calibrates a two-timescale martingale kernel to observable smile dynamics — closed-form readouts, tested across nine SPX regimes and ported off index.
Pricing and risk for AI compute as a traded asset
A no-arbitrage framework for valuing compute-capacity contracts — the single-issuer pricing engine, and its portfolio extension with cross-issuer clustering and a good-deal bound.
Blog
Occasional writing.
How the smile moves
European prices fix what the market believes about tomorrow’s range of outcomes — but not how the smile moves when the spot moves. Freeze the arbitrage-free surface, calibrate a two-timescale martingale kernel to the motion alone: nine SPX regimes, closed-form readouts, and the limits the evidence exposes.
Pricing the compute economy
Why a book of AI-compute contracts carries a risk that neither diversification nor a commodity hedge removes — and how to bound it.
About
Kspectra Research Inc. is an independent studio for first-principles research — resolving opaque phenomena into the parts that move them, the way a spectrum resolves light into its lines.
Founded by Shaosai (Arthur) Huang in Toronto.
Founder’s full publication record — Google Scholar →
See the unseen.
© 2026 Kspectra Research Inc. · Toronto