Market makers on the floor of the major exchanges see fortunes made and lost nearly every day. They compete by buying and selling securities for a guaranteed number of shares. Once an order is received, the market maker immediately sells from its own inventory or seeks an offsetting order. This process can take place in mere seconds.

This engrossing 3-day seminar is your chance to enter the fast paced world of the market maker. You’ll become fluent in the language of option chains and find out how to apply arbitrage techniques to lock in profits. Position management is at the heart of this advanced seminar. Once you learn to view trading from the market maker’s perspective, you’ll never trade the same again.

Market makers profit from the rapid turnover in security positions rather than from holding those positions in anticipation of gradual price movements. Nowhere is this more dynamic than in options
trading, where the action is even more intense.
In just three days, this riveting seminar opens your eyes to a whole new aspect of trading, providing a rare “behind-the-scenes” glimpse into how money is made and lost on the trading floor. It comes with a comprehensive 14-chapter book complete with exercises, case studies and more.

Key Highlights:

• Understand trading from the eyes of the market maker
• Dispel some of today’s most popular myths about
  options trading Evaluate trades like a pro – and from multiple angles
• Visualize the six basic synthetics
• Master options reversals, conversions, boxes and rolls
• Understand the risk in so-called “risk-free” trades
• Know if and exactly when you’ll get assigned

• Goals, mindset, basic terminology
• Six basic synthetics – interest compounding, dividends
• Practical application (real risk – TVM)
• Review of basic synthetics, the combo, reversals, conversions
• The vertical, the butterfly
• Practical application (vertical and fly locks)
• Cost of carry, early exercise
• The box (review)
• Practical application (iron positions)
• The roll
• Early exercise
• Practical application (early exercise and assignment)
• Volatility Part 1 – expected moves
• Volatility Part 2 – volatility curves, skew, kurtosis
• Practical application (expected moves) the Greeks
• Basic position management (applied Greeks), takeovers, stock splits