Advanced Energy Derivatives: Advanced Options & Swaps


This in-depth examination of advanced energy swaps and options ispres ented by Richard Weissman, an energy derivatives trader and highly acclaimed author with over thirty years of real-world trading experience. Learn what complex option and swap strategies are, how they work, why they are used, and where they are traded. Understand the benefits and limitations of various instruments and how they can be applied to speculative trading and commercial hedging strategies.


What are the pros and cons of hedging with complex options and derivatives strategies?  What are the benefits and drawbacks to hedging with exotic options vs. vanilla options, option spreads and exotic linear derivatives? How can exotic derivatives hedgers match their physical consumption and production profiles? We will cover all this and more during this dynamic three-day course. You’ll gain a thorough and practical understanding of what exotic derivatives and options are, how they work, how they are used, and how to measure the risks and rewards associated with them.


  • A review of basic derivatives strategies
  • The mathematics of options premiums, historical and implied volatility, and the Greeks
  • Delta hedging and delta neutral
  • Real-time trading and hedging examples for all products in energy markets using exotic swaps and options spreads and exotic options
  • Options pricing models: Black-Scholes, Cox-Ross-Rubenstein and Monte Carlo
  • Commonly employed exotics by energy risk managers: Asian options, rainbow options, puttable forwards, callable forwards, basis and swing swaps, EFPs, monthly power options, daily power options
  • Popular options spread strategies used by commercial hedgers and speculators in energy: Collars, vertical debit spreads, backspreads, ratio writes, calendar spreads
  • Popular options volatility spread strategies: Straddles, strangles, iron butterflies and iron condors
  • Options arbitrage spread strategies: conversions, reversals, box spreads

**Approximate price per attendee via Zoom is $1295 USD.

**Approximate price per attendee in-person is $1995 USD.