Nana Options Academy, Issue 3: Dynamic Hedging
| The third issue of Nana Options Academy: Dynamic Hedging Resource Introduction: The book to be studied in this issue: Dynamic Hedging, written by Taleb. This is a market classic and unlike other books on risk management for corporate treasurers, Dynamic Hedging addresses the real needs of professional traders and money managers. Understand that the hope of greater profits also brings with it the possibility of catastrophic and vulnerable losses. Now more than ever, the key to trading derivatives is to implement preventative risk management techniques to plan for and avoid these alarming downturns. Written by a leading options trader and derivatives risk consultant to global banks and exchanges, this book provides a practical approach to monitoring and managing all risks associated with portfolio management. Nassim Nicholas Taleb is the founder of hedge fund operator Empirica Capital LLC and a Coucou Fellow at New York University’s School of Mathematical Sciences. He has held various senior derivatives trading positions in New York and London, and worked as an independent floor trader in Chicago. Why choose to read this classic? / Dynamic Hedging is a technique widely used by professional traders to hedge Gamma or Vega risks. The hedging operation itself is “dynamic” because it involves adjusting and hedging the market risk of the underlying asset based on the movement of the underlying asset’s price (usually up and down price swings several times a day). In Dynamic Hedging, Taleb explains how to better hedge common and exotic options. This book is almost a must-have manual for option traders. That’s right, the author is the best-selling author of “The Black Swan” and “Antifragile”. If you do not have a relatively in-depth study of options, it may be difficult to understand the book Dynamic Hedging. After all, this book is not a popular reading like "The Black Swan" and "Antifragile", but it is really professional and mathematical. In the preface of the book, Taleb stated that he summarized 200,000 option transactions and 70,000 risk management reports, and spent a full six months immersed in mathematical theory before he started writing this masterpiece. Option risk management is generally achieved by managing a combination of Greek letters. In the book, Taleb focuses on discussing the limitations of traditional Greek letters and how to use improved Greek letters for risk management. To be a little more specific, the book proposes Shadow Gamma, Modified Vega, Modified Theta, Delta Bleed, Gamma Bleed, etc. Come and study this options classic systematically with me! Due to his passion for options, Mr. Lu, in addition to his usual work as an options market maker, has also put a lot of effort into preparing the course content for the academy, hoping to grow together with every partner who takes options trading seriously. To improve course efficiency, this course consists of 10 weeks of lessons, 1 hour per week. You should read this book carefully to correctly enter the world of options in the book and improve your trading skills. Teacher Lu Lina, who is widely praised by students, will use her easy-to-understand explanations to help you quickly understand volatility trading from both theoretical and practical aspects. Different from general options courses on the market, this course is straight to the point and targeted, providing students with the knowledge and skills needed to establish profitable options volatility trading. Course Catalog 01. Dynamic Hedging 1-delta.mp4 02. Dynamic Hedging 2-gamma.mp4 03. Dynamic Hedging 3-vega.mp4 04. Dynamic Hedging 4-theta.mp4 05. Dynamic Hedging 5-Greek letters and their performance.mp4 06. Dynamic Hedging 6-Operational Analysis of Volatility.mp4 07. Dynamic Hedging 7-Advanced Performance of Greek Letters.mp4 08.Volatility and Correlation.mp4 09. Dynamic Hedging 9-How to Make Profits from Hedging.mp4 10. Dynamic Hedging 10-Distribution.mp4 |
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