this episode describe several options arbitrage strategies, which exploit temporary mispricings in financial markets to achieve risk-free profits. These strategies include boundary arbitrage, focusing on single option price violations; vertical spread arbitrage, addressing inconsistencies between two options of the same type and expiration; convexity arbitrage, targeting non-convex pricing across three options of the same type and expiration; parity arbitrage, which leverages deviations from the put-call parity relationship using a call, a put, and the underlying asset; and box arbitrage, combining two call spreads and two put spreads to effectively create a risk-free loan. Each strategy details its mechanics, data requirements, opportunity detection logic, and crucial risk considerations for real-world implementation