After years of begging by the rest of the market, the *ahem* prestigious firm All Options is about to give classes in option trading. Clean your agenda and cancel all appointments for November 10th and 20th, as the master classes will be free of charge and aimed at the very advanced option trader. Euronext and All Options will spend three hours on some Greek variables like vega, theta, gamma and delta. Meet your teacher in this student magazine (pdf, Dutch), seems a reasonable guy. Bad news however is the timing schedule, as the session runs from 10:00 to 13:00 on Beursplein 5. Hence, don’t count on post-class drinks.

You can apply for the free master class by mail. Question remains what a retail investor should do with extensive knowledge of the derivative pricing theory. Nothing really. Market makers compete for split cent margins with full delta hedge, retail folks would burn their money on transaction fees. Nevertheless, let’s not be too cynical and negative about Euronext/All Options joint efforts, although a true step would be to reduce trading fees for retail clients on Euronext. It’s a way better approach than handing over your customers to the sharks of Optiver. Did Binck’s head of retail Marcel Kalse quit his job after resisting the plan of selling their retail customer flow to Optiver?


Jack
Jack