Futures and Options Collin Carter

Lecture 18 covers hedging using options and compares the benefits of
hedging using options versus hedging using futures. Examples of hedging
using options are presented.

Lecture 17 introduces the concept of put-call parity and its
implications for options pricing. Arbitrage relationships between
options contracts are discussed.

Lecture 16 Options on futures are introduced and options terms such as put, call,
strike price, premium, and intrinsic value and time value are defined. 
Numerous examples of options trades are presented.

Lecture 15: Carter continues the discussion of hedging, giving examples
of currency and financial hedges. The concept of an optimal hedge is
discussed.

Lecture 14: Carter introduces hedging with futures as a risk management
strategy. He gives examples of long and short hedges in commodity
markets are presented. Basis is defined as the difference between
futures and cash prices and the implications of basis risk are
discussed. Hedging is categorized as arbitrage, operational, or
anticipatory.

Lecture 13 introduces two basic techniques for futures price
forecasting: fundamental analysis and technical analysis. Carter gives
examples of fundamental analysis, such as purchasing-power parity in
currency markets are presented.