In-Person: Advanced Oil Trading. Risk and Hedging.
6-9 March 2023, Singapore
PROGRAMME:
Price Risk Management:
- Understanding exposure
- Examination of crude oil pricing: Brent Complex, Oman and Dubai
- Swaps: hedging, CFD's, differential swaps
Exercises:
- Long, Short or Flat?: understanding price risk.
- Understanding Risk: when does price risk occur?
- Simple hedging with swaps and futures
- Price discovery for crude oil: Brent and Dubai
Trading Decisions and Market Structure
- Contango and Backwardation
- Time spreads
- Storage Valuation and Optimisation
- Contango and Carry
Exercises:
- Understanding Contango and Backwardation
- Using Contango to Store Oil
- Trading Time Spreads on Futures
- Hedging and Liquidity
- Examining how time spreads react to information
Arbitrage and Hedging
- Review of futures, swaps and forwards
- Product cracks
- Arbitrage: natural arbs and trading arbs
- CFD, DFL, EFP and EFS
Exercises
- Analyzing crack spreads: how will the market react?
- Balancing a portfolio of risk: trade managers and global risk
Options
- Introduction to the Black-Scholes Option Pricing Model
- Volatility: historical, real, and implied
- Working with the Greeks
- Vanilla options and option strategies
- Complex and Exotic options
- Using options to trade and trading options
Technical analysis
- What is technical analysis?
- Charting
- Formulas
- Using technical analysis and understanding its value
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