MITI Professional Development Seminars
Derivative securities are complex financial instruments. With proper knowledge derivatives can
be very effectively used as a key form of compensation. But without appropriate training the outcome
of a risk management strategy can be unintended and potentially costly.
Montgomery Investment Technology offers a variety of onsite and online
training seminars which integrate quantitative financial theory with practical
application. The range of seminar topics starts by covering the fundamental concepts of derivative
pricing, and then explores the complexities of the valuation techniques. The typical seminar runs from four to eight hours. Seminars can
be tailored to fit the specific needs of your organization.
Our professional development seminars may be eligible for CPE credit, and for CFA Institute PD credit. To schedule an onsite or online seminar, contact
Montgomery Investment Technology, Inc. at 610-688-8111 or
miti@fintools.com
Descriptions of the topics are:
Options and Futures Basics
- Types of options
- Determinants of valuation
- Pricing models (Black-
Scholes-Merton, Whaley, Binomial Lattice)
- Sensitivities (Delta, Gamma, Theta, Vega, Rho)
- Controlling risk using options (hedging)
- Volatility calculations (historical and implied)
- Implied forward rates and futures pricing
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Advanced Options
- Theoretical and mathematical analysis of standard pricing
models
- Stochastic and Weiner process (statistical)
- Analysis of advanced option models: Method of Lines,
Flexible Binomial, Constant Elasticity of Variance, Jump Diffusion,
and Finite Difference
- Discussion of exotic options including average price, barrier, binary, chooser, compound, lookback, spread
- Option trading strategies
- Monte Carlo simulation
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FAS 123R (Employee Stock Options) 
- What are the principles of FAS 123R?
- How to implement the guidelines of FAS 123R
- How to create a FAS 123R valuation process
- How to analyze Expected Term from exercise behavior (SAB 107 and SAB 110)
- Valuation of Employee Stock Options (ESOs)
- Valuation of Market Condition awards
- Valuation of Performance Condition awards
- Historical and Implied Volatility calculations
- Discussion of Monte Carlo Simulation
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Integrating Excel and MITI FinTools®
- How to take full advantage of FinTools® software:
OPTIONS XL, UTILITY XL, BONDS XL, EXOTICS XL, RISK XL
- How to use the FinTools® templates
- How to create your own custom FinTools® templates
- Excel Tips and Tricks: using "wizards", automating
with VBA, charting, functions
- Using real-time and historical data in Excel through
DDE links
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Alternative Awards
- Market Condition Awards
- Price Target
- Capped Payoff
- Outperformance vs Index
- Total Shareholder Return (TSR)
- Alternative Standard Options
- Standard vs Stepped Strike vs Strip
- ESPP Lookback
- Alternative Valuation Models
- Gram-Charlier (skewness and kurtosis)
- Option Exercise Behavior (Monte Carlo Simulation)
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Volatility and Normality
- Historical Volatility Matrix
- Close to Close, High-Low, High-Low-Close
- Time vs Interval Return
- Exponentially Weighted (EWMA) and EGARCH
- Outlier Analysis
- Rolling Volatility
- Peer Group Volatility
- Implied Volatility
- Cycle Options, LEAPS, Warrants
- Normality Testing
- Skewness, Kurtosis, Autocorrelation
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