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1、Chapter2:TheStructureofOptionsMarketsIfthefinancialmarketsareawarzone,thisisthetheaterofhand-to-handcombat.RichardThomsonApocalypseRoulette,1998,p.49D.M.ChanceCh.2:1AnIntroductiontoDerivativesandRiskManagement,6thed.ImportantConceptsinChapter2DefinitionsandexamplesofcallandputoptionsInstituti
2、onalcharacteristicsofoptionsmarketsOptionsavailablefortradingPlacinganoptionsorderTheclearinghouseAccessingoptionpricequotationsTransactioncostsRegulationofoptionsmarketsMarginsandtaxesinoptiontransactionsD.M.Chance2AnIntroductiontoDerivativesandRiskManagement,6thed.Optionterminologyprice/pre
3、miumcallvs.putexerciseprice/strikeprice/strikingpriceexpirationdateEverydayexamplesofoptionsraincheckdiscountcouponairlineticketwithcancellationrightrighttodropacourseD.M.Chance3AnIntroductiontoDerivativesandRiskManagement,6thed.TheDevelopmentofOptionsMarketsEarlyoriginsPutandCallBrokersandDe
4、alersAssociationChicagoBoardOptionsExchange,1973Resurgenceofover-the-countermarketD.M.Chance4AnIntroductiontoDerivativesandRiskManagement,6thed.CallOptionsCurrentexampleObjectiveofacallbuyerMoneynessconceptsIn-the-moneyOut-of-the-moneyAt-the-moneyD.M.Chance5AnIntroductiontoDerivativesandRiskM
5、anagement,6thed.PutOptionsCurrentexampleObjectiveofaputbuyerMoneynessconceptsIn-the-moneyOut-of-the-moneyAt-the-moneyD.M.Chance6AnIntroductiontoDerivativesandRiskManagement,6thed.TheOver-the-CounterOptionsMarketWorldwideCreditriskCustomizedtermsPrivatetransactionsUnregulatedOptionsonstocksand
6、stockindices,bonds,interestrates,commodities,swaps¤ciesD.M.Chance7AnIntroductiontoDerivativesandRiskManagement,6thed.OrganizedOptionsTradingListingRequirementsContractSizeExercisePricesExpirationDatesPositionandExerciseLimitsTheconceptofanoptionsexchangeD.M.Chance8AnIntroductiontoDeriva
7、tivesandRiskManagement,6thed.OptionsExchangesandTradingActivitySeeTable2.1,p.29foroptionsexchangesD.M.Chance9AnIntroductiontoDerivativesandRiskManagement,6thed.OptionTradersTheMarketMakerBid,ask,andbid-askspreadScalpers,positiontraders,spread
