The CBOT will host a one-day Financial options workshop on March 14th, 2007 with options author and speaker Jay Sorkin. The workshop will cover in detail a number of topics including the basics of options, fundamental properties of options, option pricing, and Financial option strategies.
Agenda for CBOT Financial Options Workshop
I. Understanding options
- What are options?
- Examples of options in everyday life
- Introduction to the fundamental properties of options
II. Types of options—Unlisted (over the counter) vs. listed
- Features of unlisted options—everyday examples
- Basic properties of listed options
- Types of options—calls and puts
- Calls
- Puts
- Additional properties of options
- “wasting asset”
- defined loss
- the concept of parity
- puts and calls and how they work together—an introduction
- open interest and liquidity
- exercise and assignment and what happens after
- in- vs. out-of-the-money
- An introduction to the factors that make up and influence the pricing of an option
- Mathematical models that are used to determine the value of an option
VII. It’s All Greek to Me: those strange mathematical symbols
- Delta
- Gamma
- Theta
- Vega
- Rho
- Let’s Begin Using Options
- Long positions
- Short positions
- Combining options into strategies
- Bullish strategies
- Bearish strategies
- Neutral strategies—where options shine
D. How it’s done on the trading floor
- Synthetics—The atomic Theory of Options
XI. Arbitrage Strategies, Put/Call Pricing Parity
XII. Specific Strategies for Treasury and Stock Index Futures Options
About the Instructor
Jay Sorkin has spent thirty years in the futures and options markets. Beginning in 1975, he was a market maker and Board Broker at the Chicago Board Options Exchange, running the book for over a dozen New York Stock Exchange securities.
Moving to the Chicago Board of Trade in1980, Mr. Sorkin was a trader and independent broker in the booming new 30-year Treasury bond futures pit. In 1982, he was instrumental in developing the fledgling 30-year T-bond options on futures markets at the CBOT into the most widely traded futures option contract, traveling throughout the United States and Europe speaking on and teaching this new investment vehicle.
Over 20-year tenure at the Chicago Board of Trade, Mr. Sorkin served on virtually every major exchange committee, was elected to the Nominating Committee and was elected twice to the CBOT Board of Directors.
Mr. Sorkin has traveled extensively speaking on a wide variety of business related subjects including futures and options, trading derivatives, psychology of traders and markets, architectural structure of markets, complexity theory, and the evolution of business. He is the author of numerous articles for professional magazines and journals on the futures and options market, market theory and economic trends.
Registration:
The cost for the workshop is $325 and includes lunch and refreshments. To register for this course online click here.
For questions, email educationandtraining@cbot.com or call 312-435-3478.
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