Visualisation plan de cours 2026 / 2027

EM09HM47

Derivatives I

Programme

PGE PGE4 FI

Semestre

Coefficient

Volume horaire

Face à face : 27 H

Travail personnel indicatif : 54 H

Discipline

Finance

Nombre de places

Cours ouvert aux étudiants visitants

Oui

Langue d'enseignement

Anglais

Responsable

Marie-Hélène
BROIHANNE

Liste des intervenants

	Intervenant(s)	Email	Volume horaire
	Marie-Hélène BROIHANNE	marie-helene.broihanne@em-strasbourg.eu	20 h CM
	NON ATTRIBUÉ	coralie.haller@em-strasbourg.eu	7 h CM

Discipline

Finance

Descriptif

Derivates are actively traded on many exchanges around the world and used for several practical purposes. The derivatives market is huge and has become increasingly important in Finance over the past.

The objective of this course is to understand how derivatives work, how they are used, and how they are priced.
Students will learn the mechanics and properties of options, useful trading strategies as well as financial engineering techniques. Along with this, practice of derivatives for financial markets participants will be introduced.

MAC

Recommander des solutions managériales pour un objectif durable/Recommend managerial solutions to achieve sustainable ob

8 ECTS

Contribution pédagogique du cours au programme

Develop impactful management using the latest knowledge and tools in the fields of management
Determine a strategic and managerial vision in a complex, uncertain and changing environment
Design solutions adapted to organizational problems by applying relevant methodologies

Organisation pédagogique

Face-to-face

- Lectures

In group

- Exercises

Objectifs pédagogiques - COGNITIVE DOMAIN

A l'issue du cours, l'étudiant(e) devrait être capable de / d'...

Distinguish trading strategies according to their objective (speculation, hedging...) with derivatives
discriminate between exchange-traded and over-the-counter derivatives
Construct strategies based on the call-put parity
determine the value at expiration and profit from a long or a short position in a call or put option

Objectifs pédagogiques - AFFECTIVE DOMAIN

A l'issue du cours, l'étudiant(e) devrait être capable de / d'...

synthesize regulations of derivative markets and market mechanisms
display trading strategies based on arbitrage opportunities

Objectifs pédagogiques — Objectifs de développement durable (ODD)

ODD portés par la politique RSO de l'EM.

Plan / Sommaire

1. Introduction
The nature of derivatives
Terminology
Use of derivatives examples
Weather, energy and insurance derivatives

2. Mechanics of options markets
Options positions and payoffs
Commissions, margins
Trading, regulations
Underlying assets

3. Properties of stock options
Types
Price determinants
Parity call-put
Early exercise
Impact of dividends

4. Trading strategies involving options
Spreads (bull-bear-box-butterfly-calendar)
Straddle-Strangle-Strip-Strap

5. Practice of derivatives for financial markets participants

Prérequis nécessaires

Connaissances en / Notions clés à maîtriser

Basic corporate finance knowledge

Supports pédagogiques

Mandatory tools for the course

- Computer
- Calculator

Documents in all formats

- Photocopies
- Worksheets

Moodle platform

- Upload of class documents
- Assessments

Adossement à la recherche

Ce cours est adossé à la recherche.

Research-led (par les contenus)Le cours mobilise des connaissances issues de la recherche académique récente.

Travaux de recherche de l'EM

Options, futures et autres actifs dérivés, John Hull, Patrick Roger, Pearson, 2021

Modalités d'évaluation

Liste des modalités d'évaluation

? Evaluation intermédiaire / contrôle continu 1

Ecrite (90 min) / Individuelle / Anglais / Pondération : 40%

Compétence mesurée

Non renseignée

✓ Evaluation finale 2

Ecrite (120 min) / Individuelle / Anglais / Pondération : 60%

Compétence mesurée

Non renseignée

✓ Seconde chance

Ecrite (120 min) / Individuelle / Anglais / Pondération : 60%

Compétence mesurée

Non renseignée