2019 VINS Lecture Series- Dr. James Xu

Chinese Option Markets and The Practical Option Strategies
Date & Time: 
Wednesday, February 27, 2019 - 19:00 to 20:30
Dr. James Xu
Room 1502-1504, NYU Shanghai (1555 Century Avenue)

Lecture Speaker Biography:

Dr. James Xu graduated with a Doctoral Degree from Yale University and received the "The Henry Prentiss Becton Prize" award which is regarded as the Best Ph.D. Graduate Award in Eng. and Applied Science at Yale University. After graduation, Dr. Xu joined J. P. Morgan Chase in New York as a derivatives researcher, and then managed the derivatives research group and the options trading desk. He then joined Deutsch Bank in New York as a senior option trader and HSBC in New York as the head of options trading desk. He also managed the Global Volatility Hedge Funds in New York and in London for four years. In 2010, he returned to China and joined Guotai Asset Management Co. as the manager of the International Fund Business and the Fixed Income Fund Management Department. He then became the general manager of the Proprietary Strategy Trading Department at Shenwan Hongyuan Securities. In early 2015, he founded the COBE Investment Corp. in Shanghai which specializes in hedge fund management with focus on quantitative and derivatives strategies. In 2018, he joined Fanhai International School of Finance at Fudan University as the Guest Professor of Finance.


Lecture Introduction:

This lecture will introduce the current situation and development of China's option markets, analyze the practical problems existing at present. It will focus on the 50ETF option market of the Shanghai Stock Exchange with large market capacity which become practical meaningful to financial institutions. Because of its non-linear characteristics and high efficiency, options are the only and the most effective speculative tool and risk management tool, and can meet various investment needs such as asset allocation,  hedging, risk taking, risk management, and quantitative and hedge fund strategies. Option volatility assets can be used as a new asset type of asset allocation which has little correlation with other assets. Fund management and corporation management in overseas markets, especially hedge funds, make extensive use of options for investment, arbitrage, and risk management. The rapid development of domestic options and the constant change of rules, together with the large scale ups and downs of the domestic market, have created many incredible profit opportunities and risk management needs for options. We will give a few well-known option cases, show the 50ETF options investment cases, and then discuss the practical application of options in macro strategy, speculative strategy, arbitrage strategy and systematic strategy, as well as the practical basis for risk management of portfolios with options.


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