Ultimate CFA Level 3 Bootcamp- Derivative + Risk Management

About this course

Hi, My name is LIPAI WANG, I previously served as a trust manager. This course provides a structured review of derivatives and option strategies relevant to the CFA Level III curriculum, with emphasis on practical application in portfolio management contexts.The course begins with core option relationships such as put call parity and synthetic positions. You will work through synthetic forwards and synthetic options in a step-by-step format, focusing on understanding payoff structures and how combinations replicate exposures.From there, the course covers commonly tested option strategies including covered calls, protective puts, collars, bull call spreads, bear put spreads, straddles, and calendar spreads. Each strategy is analyzed in terms of payoff, risk profile, and portfolio implications.A dedicated section reviews the Black-Scholes-Merton model. This includes explanation of d1 and d2, interpretation of inputs, and implementation in Excel. The course also walks through the derivation and interpretation of key Greeks including Delta, Gamma, Vega, and Theta. The objective is to clarify how option sensitivities behave and how they affect position level and portfolio level exposure.Additional lectures address time decay behavior,  implied volatility considerations, and portfolio level delta management.This course is intended as a focused derivatives supplement for CFA Level III candidates who want detailed walkthroughs of option structures and risk characteristics.

Course objectives

• provide a focused derivatives supplement for CFA Level III preparation
• clarify option sensitivities and their effects on portfolios