Introduction to Derivatives
  • Types of Derivative Contracts and Their Characteristics
  • Derivatives Compared to Securities
  • Derivatives Defined
Introduction to Futures Contracts
  • Futures Terminology and Contract Features
  • Physical Delivery to Close a Futures Position
  • Cash Settlement, OTC Derivatives
  • Futures Clearinghouse and Third Party Contracts
  • Futures Margins and Futures Contracts
Futures Contracts Trading and Cash Flows
  • Clearinghouse and Futures Trades
  • Comparing Futures Versus Underlying Positions
  • Futures Positon Cash Flows and Hedging with Futures
  • Futures Positions: Risk and the Cost Taking Position
Futures Pricing
  • Cost of Carry/Carrying Charges
  • Cost of Carry Pricing and The Forward Pricing Curve
Introduction to Options
  • Option Fundamentals: Contract Features and Terminology
  • Option Contract Example: Long Call Positions
  • Option Pricing Basics
  • Time Value, Instrinsic Value and Moniness
  • Short Option Positions
  • Investment Characteristic of Options
  • Overview of Long Put, Short Call and Short Put Positions
Option Pricing and Applications
  • Option Pricing and Sensitivities (Option "Greeks")
  • Option Deltas
  • Delta Hedging
  • Delta Neutral Hedging Example
  • Black-Scholes and Option Volatility (Vega)
  • Implied Volatility and Volatility Trading