Richard Lehman will present "An Option Trader’s Guide to Volatility." Volatility to an option trader is like wind to a sailor – the single most crucial piece of information necessary to success. Not only is volatility the most important variable in determining an option’s value, it represents an asset category of its own that can actually be traded or used to hedge other positions. Rick will define what volatility really means and discuss its importance in developing options strategies. He will also discuss the growing list of volatility instruments that can now be used in creating volatility-based strategies.
Rick’s financial career spans more than thirty years beginning with an eleven-year stint on Wall Street where he was a Regional Options Coordinator for EF Hutton and the National Options Marketing Director at Thomson McKinnon. Rick later migrated to California where he worked with financial data/technology firms, a Bay area bank, and as an independent RIA. Working with options guru Larry McMillan, Rick authored the book New Insights in Covered Call Writing in 2003 and Options for Volatile Markets in 2011. Rick has served as an adjunct professor of Options at UC Berkeley Extension for 12 years and also now teaches behavioral finance courses. Rick holds a BS in Management Engineering from Rensselaer Polytechnic Institute in Troy New York and an MBA in Finance from the State University of New York at Albany.