The benefit of learning together with your friend is that you keep each other accountable and have meaningful discussions about what you're learning.
Courtlyn
Promotion and Events Specialist
Learn the most advanced derivative tool for mitigating risk and increasing returns
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March 7, 2023
6 weeks, online
4-6 hours per week
Our participants tell us that taking this program together with their colleagues helps to share common language and accelerate impact.
We hope you find the same. Special pricing is available for groups.
The benefit of learning together with your friend is that you keep each other accountable and have meaningful discussions about what you're learning.
Courtlyn
Promotion and Events SpecialistBased on the information you provided, your team is eligible for a special discount, for Options Strategy starting on March 7, 2023 .
We’ve sent you an email with enrollment next steps. If you’re ready to enroll now, click the button below.
Have questions? Email us at group-enrollments@emeritus.org.Team-Based Learning Options
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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.
In 2021, a record 39 million options contracts traded daily, an increase of 35 percent over 2020.
(Source: Options Clearing Corporation )
After participating in this program, you will be able to:
Following a high-level overview of derivatives in general, you will explore how and why investors trade options.
Delve deep into the mechanics and contract features of options, and examine the inherent leverage these products offer.
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.
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.
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.
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.
Following a high-level overview of derivatives in general, you will explore how and why investors trade options.
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.
Delve deep into the mechanics and contract features of options, and examine the inherent leverage these products offer.
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.
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.
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.
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.
Live office hours with Q&A
Peer learning and feedback
Real-world option valuation exercises
Weekly assignments
Knowledge checks and discussion forums
Mobile learning app
Dedicated program support team
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. He has also taught a course at Princeton University on derivatives, housing and mortgage-backed securities. He teaches courses on derivatives, statistical methods in finance, investments, and risk management at the MBA, masters, PhD and Executive MBA level.
His academic research focuses on applied and theoretical issues in finance, with a particular focus on option markets. Much of his research focuses on understanding volatility dynamics, market crashes, and periods of market crisis, in order to understand how options and derivatives markets prices these risks. His research has been published in the leading journals in finance, economics, and statistics including the American Economic Review, Journal of Finance, Journal of Econometrics, Journal of the American Statistical Association, and Review of Financial Studies, and Statistical Science.
He has broad industry experience, serving as an advisor and consultant to hedge funds, fund-of-funds, pension funds, law firms, family offices, and financial technology firms, with a particular focus on quantitative modeling and strategies.
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.
Download Brochure
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.
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.
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.
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.
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.
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:
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
The program fee is noted at the top of this program web page and usually referenced in the program brochure as well.
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.
Yes! Please email us at learner.success@emeritus.org with the details of the program you are interested in, and we will assist you.
Please email learner.success@emeritus.org with your invoicing requirements and the specific program you’re interested in enroling in.
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.
Please email us at learner.success@emeritus.org for assistance.
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.
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.
Flexible payment options available.