Options Trading in Equities and Index options

WORKSHOP - Options trading in Equities and Index options (Recording)

Two-day workshop—Options Trading in Equities and Index Options—designed to bring you from foundational principles to real-world trading insights. Whether you’re a relative newcomer seeking a solid introduction or an experienced trader looking to refine your edge in volatility and dispersion strategies, this workshop delivers practical knowledge you can apply immediately.

About the Speaker - Kristopher Abdelmessih

• Experienced Options Trader with over two decades of expertise in options and volatility trading.
• Early Career: Developed core skills as a market maker on the trading floors at Susquehanna International Group (SIG), mastering options pricing, risk management, and liquidity provision.
• Parallax Trading: Managed a relative-value commodities volatility book, focusing on cross-market volatility opportunities and strategic positioning.
• Independent Commodity Options Trader (2008-2012): Specialized in trading energy and soft commodities, enhancing his market knowledge and practical execution skills.
• Exchange Memberships: Active member on major commodity derivatives exchanges including NYMEX, ICE, and COMEX.
• Thought Leadership: Author of the widely-followed Moontower Blog, known for deep insights on options strategies, market dynamics, and trading philosophy.

Day 1: Background & Basics

Exercise Styles & Settlement

• European exercise and cash settlement in index options
• American exercise in equity options: discrete dividends vs. dividend yield, early‐exercise considerations

Stock Term Structures

• Understanding borrow costs, locate fees, and their impact on option pricing
• Special considerations for ETF options

Trading Volatility vs. Funding

• Volatility products as tools for directional and non-directional strategies
• Funding trades: yield curves, carry, and calendar spreads

Market Participants & Liquidity

• Who trades index options vs. equity options—and why
• Where to find the deepest liquidity pools in index products

Day 2: A Real-World Perspective

Volatility Traders’ Toolkit

• Dispersion trading: constructing and managing imperfect baskets
• Implied correlation: skew, term structure, and practical pitfalls

The SPX Complex

• Linking SPX options, VIX futures, VIX ETF products, and VIX options
• Cross‐product hedging and volatility arbitrage

Closing Discussion & Case Studies

• Live walk-throughs of recent dispersion trades
• Q&A: adapting strategies to changing market regimes