**概要**

This eCourse consists of three modules. Module 1 looks at the key inputs into option valuation and the different techniques, such as binomial expansion, Black-Scholes, and Monte Carlo techniques that are used to value options.

Module 2 looks at key inputs of the valuation of options and sensitivity measures and it also looks at the importance of put-call parity in exploiting potential option mispricings through arbitrage.

Module 3 looks at the basic dynamics of option values, exploring the relationship between option prices and forward prices, the concept of option moneyness, and the breakdown of option prices into time value and intrinsic value.

**宗旨**

On completion of this course, you will be able to:

- Recognize how the type and width of an option’s payoff distribution affects its valuation

- Recall how to value an option using techniques such as binomial expansion, the Black-Scholes formula, and Monte Carlo simulation

- Recall how options that are in the money at expiration are automatically exercised while those that are out of the money lapse

- List the key inputs into option pricing, including the underlying stock price, the strike, time, volatility, risk-free rate, and dividends (or other asset income)

- Recognize the difference between realized volatility, implied volatility, and expected volatility

- Identify the main option pricing sensitivities, including delta, gamma, and theta

- Recognize the importance of put-call parity in identifying option arbitrage opportunities

- Recognize the importance of moneyness and measures of option sensitivity such as delta

- Identify how forward prices are connected to option prices and how forwards are priced in Excel

**內容**

Module 1: Option Valuation – An Introduction

Topic 1: Basics of Option Valuation

Topic 2: Option Pricing Techniques

Module 2: Option Valuation – Key Concepts

Topic 1: Options Decision-Making & Outcomes

Topic 2: Option Pricing Influences: Underlying Price & Strike

Module 3: Option Valuation – Sensitivities & Outcomes

Topic 1: Moneyness

Topic 2: Option Pricing & Forwards

Topic 3: Option Pricing Influences: Time & Volatility

Topic 4: Option Pricing Inputs & Sensitivities

Topic 5: Put-Call Parity

**詳情**

**HKD675**

非會員:

**HKD975**

機構會員員工:

**HKD675**