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May I ask what's the difference between At-the-money volatility vs At-the-money foward Vol?

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    $\begingroup$ Just the referenced strike will be different- ATM: K=Spot, ATMF: K=Forward $\endgroup$ Jul 29, 2020 at 17:40
  • $\begingroup$ Thanks. Why is it a market convention to use ATMF vol instead of ATM vol? $\endgroup$
    – Dom
    Jul 29, 2020 at 18:19
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    $\begingroup$ Example would be: in FX markets for longer maturities the forward would be very different from the spot due to interest rates differential, so ATMF would be more meaningful measure of money-ness. There is also Delta neutral ATM btw $\endgroup$ Jul 29, 2020 at 18:25

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