How This Seminar Works
	1. This live seminar consists of two 90-minute, high quality conference calls combined with your choice of printed or Internet-posted slides. 2. The day before the seminar, you will be emailed a toll-free telephone number to access the audio portion of the live seminar session. The seminar's slides will be attached to the email as a PDF file, and a Website link will be provided so you can view the slides on the Internet if you prefer. Phone calls originating from outside of the USA and Canada will be a toll call billed to you by your telephone service provider. 3. A few minutes before the seminar is to begin, you will call the toll-free phone number to access the audio portion of the seminar. You can follow the visual portion of the presentation by using the printed PDF files or by viewing the Internet-posted slides on your computer screen. 4. A professional moderator will manage the seminar teleconference and there will be ample opportunity to ask questions. All participants will hear both the question and the instructor's response. After the seminar is over, further questions can be directed to the instructor via email.

This clearly explained seminar will show you new ways to make and save money as you learn to view the energy and electricity markets from a completely different perspective. Click Here to Register

What You will Learn (Session #1 from 1:00 pm to 2:30 pm)

	What energy and electricity options are and why they are so valuable.

	The meaning of "puts", "calls", "intrinsic value", "time value", "deep out-of-the-money" and other options-related terms.

	The characteristics of the NYMEX, over-the-counter and physical options markets and how they differ from each other.
	The difference between American, European and Asian-style options.

	How NYMEX-traded energy options are bought and sold.

Why one should never "early excercise" an American-style NYMEX or physical option.

	How to hedge price risk with energy options: Price caps, floors & collars.
	How a buyer can create a price cap using NYMEX call options (An example).
	The three trade-offs that must be considered when hedging with options.
	How buyers and sellers can create a "No Cost" price collar (An example).

What You will Learn (Session #2 from 3:00 pm to 4:30 pm)
	The step-by-step methodology used to calculate annualized, monthly and daily price volatilities.

	The implications of high energy and electricity price volatility.

	Why pipeline, generating, storage, and production assets are actually valuable energy options in disguise.

	The basics of pricing energy options: Why one should not use the Black Scholes model.

	What Delta, Gamma, Theta, Vega and Rho are.

	The basic concept of "Delta Hedging".

	The Put-Call Parity Equation and Synthetic Options.
	"Box Arbitrage" example using the Put-Call Parity Equation.
	The payout formulas for common over-the-counter "paper" options.
	Using over-the-counter options to create a structured transaction  (An example).

Your Instructor

John Adamiak is President and Founder of PGS Energy Training and is an expert in energy derivatives and electric power markets. Mr. Adamiak is a well-known and highly effective seminar presenter who has over 20 years experience in the natural gas and electric power industries. His background includes 12 years as a seminar instructor, 9 years of energy transaction experience, and 6 years of strategic planning and venture capital activities. John's academic background includes an M.B.A. degree from Carnegie-Mellon University.

Who Should Attend this Seminar

This seminar will benefit a wide variety of organizations and individuals in the electric power, financial and energy industries. Professionals from banks, energy producers, utilities, energy marketers, industrial companies, electric generators, and liquids processors will gain valuable insights, as will natural gas, oil and electric power executives, traders, marketers, (sales, purchasing & risk management professionals), accountants, economists, trading support staff, auditors, attorneys, government regulators, rate specialists, plant operators, engineers and corporate planners.

Why Choose PGS?

Save time and travel expenses while you increase your knowledge. PGS seminars are known for their clear explanations and in-depth content. Over 12,000 energy and financial professionals have already attended PGS Energy Training's proven courses. View Past Seminar Attendees

Prerequisites

This fundamental level, group live seminar has no prerequisites. No advance preparation is required before the seminar.

Registration Fee