Categories:
Markets, Trading & Derivatives
£1605 per delegate. This may be less for special offers on specific course dates and in-company training courses
Duration: 2 days
Trainer: E023CI
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Commodity Options
This is a two-day course for which no existing knowledge of Options is required. The course moves from options basics to advanced concepts such as delta hedging and the Greeks. Real-world examples and real-world trading tools (e.g. option pricing model) are used throughout the course.
This is a two-day course for which no existing knowledge of Options is required. The course moves from options basics to advanced concepts such as delta hedging and the Greeks. Real-world examples and real-world trading tools (e.g. option pricing model) are used throughout the course.
Who Should Attend
- Personnel from the commodity market, trading companies and other individuals who wish to gain an understanding of commodity options and their uses
- Risk management and financial departments of commodity producer and commodity trading companies
- Commodity supply and distribution companies
- Major commodity consuming businesses
- Trading companies, banks, brokers, government, regulators and associated organisations
Course Content
Day 1
- Option basics; calls and puts
- Everyday examples of calls and puts
- Definitions of calls and puts
- Option contract specifications
- Particular features of commodity options
- Exercise and assignment
- European/American-style options
- Options evolution
- Using options; hedging and speculation
- Hedging with futures vs hedging with options (outright and collar/fence)
- Speculating with options; exact tailoring
- Option price and value; intrinsic and time value
- Put/call parity
- Moneyness; at/in/out of the money
- Pricing options; underlying, time, interest rates, volatility
- Volatility; definition, types and uses
- Demonstration of an option pricing model
Day 2
- Volatility skew
- Basic option strategy
- Pay-off graphs
- Option strategy; the collar/fence revisited
- Option spreads; call/put spreads, straddles/strangles, flies/condors, etc.
- The option sensitivities (Greeks); delta
- Option market makers
- Delta hedging
- Delta neutrality and synthetics
- The option sensitivities; theta, rho and vega
- Gamma; definition and trading gamma (long and short)
- Option resources and glossary (in manual)
- Q&A session
- Personnel from the commodity market, trading companies and other individuals who wish to gain an understanding of commodity options and their uses
- Risk management and financial departments of commodity producer and commodity trading companies
- Commodity supply and distribution companies
- Major commodity consuming businesses
- Trading companies, banks, brokers, government, regulators and associated organisations
Course Content
Day 1
- Option basics; calls and puts
- Everyday examples of calls and puts
- Definitions of calls and puts
- Option contract specifications
- Particular features of commodity options
- Exercise and assignment
- European/American-style options
- Options evolution
- Using options; hedging and speculation
- Hedging with futures vs hedging with options (outright and collar/fence)
- Speculating with options; exact tailoring
- Option price and value; intrinsic and time value
- Put/call parity
- Moneyness; at/in/out of the money
- Pricing options; underlying, time, interest rates, volatility
- Volatility; definition, types and uses
- Demonstration of an option pricing model
Day 2
- Volatility skew
- Basic option strategy
- Pay-off graphs
- Option strategy; the collar/fence revisited
- Option spreads; call/put spreads, straddles/strangles, flies/condors, etc.
- The option sensitivities (Greeks); delta
- Option market makers
- Delta hedging
- Delta neutrality and synthetics
- The option sensitivities; theta, rho and vega
- Gamma; definition and trading gamma (long and short)
- Option resources and glossary (in manual)
- Q&A session
| Location | Region | Start Date | Days | Price ex. VAT | ||
|---|---|---|---|---|---|---|
| Barbican | London, London All Areas, South East | Thu 24 Sep 20 This course runs over two consecutive days, start date as indicated. | 2 | £1605 + VAT | BOOK | ENQUIRE |
| Barbican | London, London All Areas, South East | Thu 26 Nov 20 This course runs over two consecutive days, start date as indicated. | 2 | £1605 + VAT | BOOK | ENQUIRE |
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