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Risk Management
Total risk management is the combination of all the elements of risk management into a consistent strategy...
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Training - Equity Market & Investment
Companies
Options Trading:
This 'real time' options trading class focuses on 'volatility
trading'. The class will deal primarily with functioning as a
market maker/Specialist, but will also cover options as a
means of expressing market opinions.
The class will begin with a 'notional' amount of capital that
the class will trade. One portfolio will be a volatility
trading account, where students act as options market makers.
The other portfolio will make trades of a more speculative
nature, using technical and fundamental analysis to make their
trading decisions.
Course Outline
SESSION 1
Overview of Volatility Trading and Review of Risk Parameters
* Overview of Volatility Trading
* The market participants and how they interact with price
* Review of Risk Parameters
* Delta, Gamma, Theta, Vega and Rho
SESSION 2
Put-Call Parity, Hedging and Overview of Volatility Trading
* Put-Call Parity
* Understanding the relationship between put and call prices
* Hedging
* Maintaining a neutral position: delta, vega, theta and rho
SESSION 3
Volatility Skew and Assigning Value
* Volatility Skew
* Understanding the difference between ATM volatility and OTM
volatility
* Evaluating rich/cheap in skews
* Historical Volatility
* Comparing Historical and Implied Volatility
SESSION 4
Dispersion books
* How a dispersion book operates
* Comparing volatilities around the world
* The types of trades a dispersion book looks for
SESSION 5
Taking on a trade
* Walking through an actual trade
* Looking for real time opportunities
* Hedging the position (for Delta, Vega, Theta and Rho)
SESSION 6
Trading in the real world
* Unwinding the trade and taking profits
* Unwinding the trade and limiting losses
* Expiration day decisions
* Dealing with the fluid nature of options
Course Fees
VAT to be included at the local rate, if applicable. Costs
shown are per delegate inclusive of refreshments, lunches and
seminar materials. Cost of accommodation is not included.
GBP 2800
Certificates of Participation
Certificates of participation are remitted to course
participants upon request. |
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