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Learning Outcome Statements
| 2016 Level II > Study Session 17. Derivative Investments: Options, Swaps, and Interest Rate and Credit Derivatives > Reading 49. Option Markets and Contracts |
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| 1. Fiduciary calls and protective puts |
| 2. An arbitrage opportunity |
| 3. The one-period binomial model |
| 4. The two-period binomial model |
| 5. Extending the binomial model |
| 6. The Black-Scholes-Merton model |
| 7. The delta of an option and dynamic hedging |
| 8. The gamma effect on an option's price and delta |
| 9. The effect of the underlying asset's cash flows |
| 10. The critical role of volatility |
| 11. Put-call parity for options on forwards |
| 12. Early exercise of American options on forwards and futures contracts |
| 13. The Black model |
