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Lecture7:OptionsThis presentationwill coverthe fundamentalsof options trading,including whatoptions are,pricing theories,trading strategies,risk management,and futuredevelopments inthe options market.What AreOptions1Definition2Types of3Properties ofOptionsOptionsOptions arefinancialderivatives Thereare twomain Optionshavethat givethe holdertypes ofoptions:various properties,the right,but notcall options,which includingexercisethe obligation,to givethe holder the price,expirationbuy orsell anasset rightto buythe date,and contractata predeterminedunderlying asset,size,that affectpricewithin aand putoptions,their valueandspecified timewhich givethe trading strategies.period.holdertheright tosellthe underlyingasset.Pricing Theoriesfor OptionsFactorsOption PricingBlack-ScholesInfluencing FormulaModelOption PricesThe Black-Scholes modelTheBlack-Scholes modelisa mathematicalmodel revolutionizedoptionsOption pricesareused tocalculate thepricing byproviding ainfluenced by factorstheoreticalprice offramework forvaluingsuch asthe underlyingoptions,taking intooptions andassets price,volatility,account theseinfluencing understandingtheirtime toexpiration,risk-factors.sensitivity todifferentfree interestrate,andfactors.dividend yield.Trading Options1Types ofOptions TradingOptions can betraded onvarious exchangesand platforms,including listedoptions,over-the-counter options,and optionsonfutures contracts.2Options TradingSystemsOptions tradingis facilitatedthrough tradingsystems thatmatchbuyers andsellers,ensuring fairand efficientexecution ofoptiontrades.3Risk Controlin OptionsTradingOptions tradersemploy risk management strategies,such aspositionsizing,stop-loss orders,and hedgingtechniques,to protectagainstpotential losses.Applications ofOptionsRisk ManagementInvestment CaseStudiesStrategiesOptions providea rangeExplore real-life examplesofrisk managementOptionscanbe usedto ofhow optionshave beenstrategies,including enhanceinvestment usedsuccessfully byhedging,diversification,returns,generate income,investors andtraders toandinsurance-like andimplement tradingachieve theirfinancialprotection.strategies basedon goals.market expectations.Risks ofOptions1Factors AffectingOption RisksOptionrisks areinfluencedbyfactors such as marketvolatility,time decay,liquidity risks,and theprobability ofthe underlyingassetspricereachingthe exerciseprice.2Risk Managementfor OptionsEffectiverisk managementtechniques,including positionsizing,diversification,and disciplinedtradingstrategies,are crucialfor mitigatingpotentiallosses.3Options RiskAssessmentBy understandingand evaluatingthe risksassociated withoptions,investorscan makeinformed decisionsand developappropriate riskmanagementplans.Future Developmentsin OptionsForecastingthe Innovationsin InternationalizaOptionsMarket OptionsTrading tionof OptionsSizeTechnology MarketsExpertspredict Ongoingtechnological Optionsmarkets arecontinuedexpansion ininnovations,suchasbecoming morethe optionsmarket,electronic tradingglobalized,with cross-driven byincreased platforms,algorithmic bordertrading,investor awareness,trading,and optionsharmonized regulations,technological analyticstools,are andincreased accesstoadvancements,and transformingtheoptionsinternational markets.regulatory changes.trading landscape.Further Learningabout OptionsRecommendedLearning MaterialsExpandyour knowledgewith books,articles,and onlinecourses specificallyfocusedon optionstrading andadvanced optionstrategies.Recommended PracticalProjectsApply youroptionstradingskills byengaging insimulated trading,backtestingstrategies,and participatingin tradingcompetitions orchallenges.Additional ReadingMaterialsExplore relatedtopics suchas financialderivatives,riskmanagement,marketanalysis,and behavioralfinance toenhance yourunderstanding ofoptions.。