Options Strategy (Online)

Learn the most advanced derivative tool for mitigating risk and increasing returns

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Course Date
LAST DAY TO ENROLL

Course Duration

DURATION

6 weeks, online
4-6 hours per week

Course Fee
Course Fee

For Your Team

Enroll your team and learn with your peers

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Team-Based Learning Options

  • Enroll as a team or group and learn with your peers

  • Receive support and services

  • Inquire about special team/group pricing

  • ENROLL YOUR TEAM

    Emeritus works with leading companies to close critical skills gaps


    Our partners include

    JP Morgan
    Amazon
    AB in Bev

Expand Your Options as a Sophisticated Investor

Options trading has experienced a substantial increase in popularity, with the number of trades surging by 35 percent in 2021 compared to previous years. In the United States alone, brokerages received US$2.4 billion in payment for order flow (PFOF) for options and only US$1.3 billion for equities. Despite this rapid growth, there exists a considerable gap in knowledge and understanding of the potential to use these instruments for responsible risk mitigation and profit maximization.

Designed by expert finance faculty at Columbia Business School Executive Education, the Options Strategy program gives investors and finance professionals a deep understanding of options, including how to incorporate financial instruments in an overall investment strategy.

39 Million

In 2021, a record 39 million options contracts traded daily, an increase of 35 percent over 2020.

(Source: Options Clearing Corporation )

Key Takeaways

After participating in this program, you will be able to:

  • Develop options vocabulary and interpret option payoffs
  • Unlock options trading strategies and their uses
  • Identify and apply the determinants of option value
  • Extract investment-relevant information from options
  • Gain insights to strategically use options as part of a well-designed portfolio

Program Modules

Module 1:

Introduction to Options

Following a high-level overview of derivatives in general, you will explore how and why investors trade options.

Module 2:

Understanding Call Options

Delve deep into the mechanics and contract features of options, and examine the inherent leverage these products offer.

Module 3:

Portfolios with Options and Portfolios of Options

Understand how put options insure against market crashes, illustrated by an examination of how puts functioned during the 2008 financial crisis and during the COVID-19 pandemic in 2020.

Module 4:

Understanding Options Valuation

Develop a deep understanding of how to determine the value of options using the Black-Scholes model, as well as a simplified version known as the binomial model.

Module 5:

Volatility and the VIX Index

Armed with valuation tools, you will embark on a detailed study of volatility — the main determinant of option prices. This module explores how a range of different options are priced in the real-world market, including index options, options on individual stocks, and options on bonds and crude oil.

Module 6:

Options in the Real World

Through the lens of historical data and events, you will benefit from our faculty’s deep research and direct experience with market-defining events, giving you a front row seat to theory meeting practice.

Module 1:

Introduction to Options

Following a high-level overview of derivatives in general, you will explore how and why investors trade options.

Module 4:

Understanding Options Valuation

Develop a deep understanding of how to determine the value of options using the Black-Scholes model, as well as a simplified version known as the binomial model.

Module 2:

Understanding Call Options

Delve deep into the mechanics and contract features of options, and examine the inherent leverage these products offer.

Module 5:

Volatility and the VIX Index

Armed with valuation tools, you will embark on a detailed study of volatility — the main determinant of option prices. This module explores how a range of different options are priced in the real-world market, including index options, options on individual stocks, and options on bonds and crude oil.

Module 3:

Portfolios with Options and Portfolios of Options

Understand how put options insure against market crashes, illustrated by an examination of how puts functioned during the 2008 financial crisis and during the COVID-19 pandemic in 2020.

Module 6:

Options in the Real World

Through the lens of historical data and events, you will benefit from our faculty’s deep research and direct experience with market-defining events, giving you a front row seat to theory meeting practice.

For full details of the curriculum, please download the brochure.

Who Should Attend?

Mid- to senior-level institutional investors seeking to deepen their understanding of options and overall learn how to incorporate this knowledge into their portfolio strategies.

Financial professionals who are changing roles or seeking to expand their skillset to include more advanced investment strategies.

Individual investors seeking to manage risk, improve returns, and make more informed decisions for their personal portfolios.

Note: Basic knowledge of financial markets, financial terminology, and Microsoft Excel are recommended to obtain maximum benefits.

Featured Micro Case Studies

Tesla

Tesla

Crude Oil

Crude Oil

Option Contracts and Their Valuation

Option Contracts and Their Valuation

Optionsellers.Net

Program Experience

Decorative image relating to Live office hours

Live office hours with Q&A

Decorative image relating to Peer learning and feedback

Peer learning and feedback

Decorative image relating to Real-world options evaluation

Real-world option valuation exercises

Decorative image relating to Weekly assignments

Weekly assignments

Decorative image relating to Discussions

Knowledge checks and discussion forums

Decorative image relating to Mobile Learning App

Mobile learning app

Decorative image relating to Dedicated Program Support Team

Dedicated program support team

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Program Faculty

Faculty Member Michael Johannes

Michael Johannes

Ann F. Kaplan Professor of Finance, Columbia Business School

Michael Johannes is the Anne Kaplan Professor of Finance at Columbia University’s Graduate School of Business. He has been at Columbia since receiving his Ph.D. in Economics at the University of Chicago in 2000. He has held visiting appointments at Northwestern University’s Kellogg School of Management and Stanford University’s Graduate School of Business... More info

CERTIFICATE

Example image of certificate of participation that will be awarded upon completion of the program

CERTIFICATE

Upon completion of this program, you will receive a certificate of participation from Columbia Business School Executive Education — a powerful testament to your management capabilities.

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FAQs

  • How do I know if this program is right for me?

    After reviewing the information on the program landing page, we recommend you submit the short form above to gain access to the program brochure, which includes more in-depth information. If you still have questions on whether this program is a good fit for you, please email learner.success@emeritus.org, and a dedicated program advisor will follow-up with you very shortly.


    Are there any prerequisites for this program?

    Some programs do have prerequisites, particularly the more technical ones. This information will be noted on the program landing page, as well as in the program brochure. If you are uncertain about program prerequisites and your capabilities, please email us at learner.success@emeritus.org for assistance.


    Note that, unless otherwise stated on the program web page, all programs are taught in English and proficiency in English is required.


    What is the typical class profile?

    More than 50 percent of our participants are from outside the United States. Class profiles vary from one cohort to the next, but, generally, our online certificates draw a highly diverse audience in terms of professional experience, industry, and geography — leading to a very rich peer learning and networking experience.


    What other dates will this program be offered in the future?

    Check back to this program web page or email us at learner.success@emeritus.org to inquire if future program dates or the timeline for future offerings have been confirmed yet.

  • How much time is required each week?

    Each program includes an estimated learner effort per week. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page.



    How will my time be spent?

    We have designed this program to fit into your current working life as efficiently as possible. Time will be spent among a variety of activities including:



    • Engaging with recorded video lectures from faculty
    • Attending webinars and office hours, as per the specific program schedule
    • Reading or engaging with examples of core topics
    • Completing knowledge checks/quizzes and required activities
    • Engaging in moderated discussion groups with your peers
    • Completing your final project, if required

    The program is designed to be highly interactive while also allowing time for self-reflection and to demonstrate an understanding of the core topics through various active learning exercises. Please contact us at learner.success@emeritus.org if you need further clarification on program activities.



    What is it like to learn online with the learning collaborator, Emeritus?

    More than 250,000 professionals globally, across 80 countries, have chosen to advance their skills with Emeritus and its educational learning partners. In fact, 90 percent of the respondents of a recent survey across all our programs said that their learning outcomes were met or exceeded.

    A dedicated program support team is available 24/5 (Monday to Friday) to answer questions about the learning platform, technical issues, or anything else that may affect your learning experience.


    How do I interact with other program participants?

    Peer learning adds substantially to the overall learning experience and is an important part of the program. You can connect and communicate with other participants through our learning platform.

  • What are the requirements to earn the certificate?

    Each program includes an estimated learner effort per week, so you can gauge what will be required before you enroll. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page. All programs are designed to fit into your working life.

    This program is scored as a pass or no-pass; participants must complete the required activities to pass and obtain the certificate of completion. Some programs include a final project submission or other assignments to obtain passing status. This information will be noted in the program brochure. Please contact us at learner.success@emeritus.org if you need further clarification on any specific program requirements.


    What type of certificate will I receive?

    Upon successful completion of the program, you will receive a smart digital certificate. The smart digital certificate can be shared with friends, family, schools, or potential employers. You can use it on your cover letter, resume, and/or display it on your LinkedIn profile.
    The digital certificate will be sent approximately two weeks after the program, once grading is complete.


    Can I get the hard copy of the certificate?

    No, only verified digital certificates will be issued upon successful completion. This allows you to share your credentials on social platforms such as LinkedIn, Facebook, and Twitter.


    Do I receive alumni status after completing this program?

    No, there is no alumni status granted for this program. In some cases, there are credits that count toward a higher level of certification. This information will be clearly noted in the program brochure.


    How long will I have access to the learning materials?

    You will have access to the online learning platform and all the videos and program materials for 12 months following the program start date. Access to the learning platform is restricted to registered participants per the terms of agreement.

  • What equipment or technical requirements are there for this program?

    Participants will need the latest version of their preferred browser to access the learning platform. In addition, Microsoft Office and a PDF viewer are required to access documents, spreadsheets, presentations, PDF files, and transcripts.


    Do I need to be online to access the program content?

    Yes, the learning platform is accessed via the internet, and video content is not available for download. However, you can download files of video transcripts, assignment templates, readings, etc. For maximum flexibility, you can access program content from a desktop, laptop, tablet, or mobile device.

    Video lectures must be streamed via the internet, and any livestream webinars and office hours will require an internet connection. However, these sessions are always recorded, so you may view them later.

  • Can I still register if the registration deadline has passed?

    Yes, you can register up until seven days past the published start date of the program without missing any of the core program material or learnings.


    What is the program fee, and what forms of payment do you accept?

    The program fee is noted at the top of this program web page and usually referenced in the program brochure as well.

    • Flexible payment options are available (see details below as well as at the top of this program web page next to FEE).
    • Tuition assistance is available for participants who qualify. Please email learner.success@emeritus.org.

    What if I don’t have a credit card? Is there another method of payment accepted?

    Yes, you can do the bank remittance in the program currency via wire transfer or debit card. Please contact your program advisor, or email us at learner.success@emeritus.org for details.


    I was not able to use the discount code provided. Can you help?

    Yes! Please email us at learner.success@emeritus.org with the details of the program you are interested in, and we will assist you.


    How can I obtain an invoice for payment?

    Please email learner.success@emeritus.org with your invoicing requirements and the specific program you’re interested in enroling in.


    Is there an option to make flexible payments for this program?

    Yes, the flexible payment option allows a participant to pay the program fee in installments. This option is made available on the payment page and should be selected before submitting the payment.


    How can I obtain a W9 form?

    Please email us at learner.success@emeritus.org for assistance.

  • What is the policy on refunds and withdrawals?

    You may request a full refund within seven days of your payment or 14 days after the published start date of the program, whichever comes later. If your enrolment had previously been deferred, you will not be entitled to a refund. Partial (or pro-rated) refunds are not offered. All withdrawal and refund requests should be sent to admissions@emeritus.org.



    What is the policy on deferrals?

    After the published start date of the program, you have until the midpoint of the program to request to defer to a future cohort of the same program. A deferral request must be submitted along with a specified reason and explanation. Cohort changes may be made only once per enrolment and are subject to availability of other cohorts scheduled at our discretion. This will not be applicable for deferrals within the refund period, and the limit of one deferral per enrolment remains. All deferral requests should be sent to admissions@emeritus.org.

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