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Inspired by another post on Bakshi et al. (1997), the paper talks about the feasibility of option pricing models, particularly the SVSI-J variant.

I would like to ask the Quant community if there are any papers or if you could lend me your opinion on common volatility skew/smile/surface smoothing models. I am looking for something like Bakshi et al. (1997), that focuses on evaluating the feasibility of different volatility smoothing models (instead of option pricing models) and talks about what they are good and bad at vs the practicality of implementation (how easy it is to implement).

Ultimately, I am looking to implement a volatility smoothing model for an equity volatility skew for option-implied volatilities of European index options (mostly short-term maturity, think less than 60 days-to-maturity) with a focus on maximizing the number of option-implied volatilities (as a result of the inter/extrapolation and smoothing for an arbitrage-free skew).

Some things I have looked at thus far: cubic spline for volatility skew inter/extrapolation and SVI variants for volatility smoothing.

Much thanks!

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