> For the complete documentation index, see [llms.txt](https://docs.jalapeno.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.jalapeno.finance/core-concepts.md).

# Core Concepts

- [Introduction to Volatility Vaults and How They Work](https://docs.jalapeno.finance/core-concepts/introduction-to-volatility-vaults-and-how-they-work.md)
- [Directional Volatility Vaults](https://docs.jalapeno.finance/core-concepts/directional-volatility-vaults.md)
- [Parlay Volatility Vaults](https://docs.jalapeno.finance/core-concepts/directional-volatility-vaults/parlay-volatility-vaults.md)