Option Strategies for Advisors

Option Strategies for Advisors

Results of a quantitative study conducted by the Options Industry Council (OIC), a service of OCC, showed that advisors have low confidence levels about us­ing options. The OIC and Investments & Wealth Institute, formerly IMCA, have partnered to offer the online course Option Strategies for Advisors to help advisors overcome confidence hurdles when using options.  

The course is designed to provide advisors with essential, foundational options knowledge and skills, as well as practical strategies that can be put to work immediately. Using easy-to-understand examples and demonstrations, the course dives into options markets; risk, reward, and probability; option behavior; option spreads; volatility trading; and portfolio management using options.

Topic Highlights

Module 1: Discuss the history of options and describe the roles of buyers and sellers in the options process. Identify the strategic role of options in an investment portfolio, as well as explain basic strategies like calls and puts, as well as their key elements.

Module 2: Identify each of the four outright option positions and how they are oriented with respect to their exposure to price, time, and volatility. Describe how delta is quoted and what it represents about the of price risk that particular option will obviate. Differentiate the price risk and profit maximum for long and short options and explain the role of time value decay as option expiration approaches.

Module 3: Differentiate between the four synthetic option positions. Articulate the meaning of delta, gamma, theta, and vega. Identify the characteristics of Ins-, Ats-, Out-of-the-money options.

Module 4: Describe the unique characteristics and primary motivations for constructing each of three types of option spreads: typical, vertical, and horizontal (or calendar) spreads. Identify investor and economic scenarios for which each strategy is most appropriate.

Module 5: Define and describe the characteristics of the following volatility strategies: straddles, strangles, butterflies (including iron butterflies), and condors (including iron condors). Identify market and investor scenarios for which each strategy is most appropriate.

Module 6: Review synthetic long and short call and put characteristics and identify portfolio scenarios where their use to hedge a portfolio is most appropriate. Describe the trades inherent in collaring an equity position and identify scenarios in which each or all are most appropriate to investor objectives. Define a synthetic bull vertical call spread and under which circumstances it is the best solution for a portfolio.

Please note that this is a course. Successful completion does not result in a professional designation or credential.

Registration & Fees (USD)

  • Platinum Members - FREE
  • $495 Member
  • $695 Join & Learn (includes one year of Institute membership)


Continuing Education

Learners must complete each module and pass a corresponding quiz to receive continuing education (CE) credit. Credit is awarded one-time, upon completion of the full program. The following entities have accepted it for CE credit:

Investments & Wealth Institute®
  • 8 hours of CE credit for CIMA®, CPWA®, and RMA® certifications 
  • Automatically uploaded upon completion of the full program, which requires obtaining a 70% grade or higher on each of the module quizzes (may take up to 24 hours to be reflected)
CFP Board
  • 8 hours of CE credit for CFP® certification
  • Reported on your behalf to CFP Board within 2 weeks of completing the full program, which requires obtaining a 70% grade or higher on each of the module quizzes

The CFP ID field on your Institute account must be complete and accurate for this process to take place. To verify: log in to your account, navigate to the "dashboard", and click "update my demographic information" on the right-hand side to locate the CFP ID field.

The Institute is proud to be a CE Quality Partner of CFP Board.​ Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Access Instructions

Upon successful registration, learners will receive immediate access to purchased content and will receive two emails: one containing a transactional receipt and a second including navigation instructions for accessing the content. Access instructions are also included below:

  1. Log in to the Investments & Wealth Institute website, and click "Dashboard" in the upper right corner
  2. From the Dashboard, click on the "My Online Learning Center" link in the left navigation
  3. Once re-directed to the Online Learning Center platform, your content is located under the heading My Courses on the main page. Alternatively, you can find it in the My Learning tab across the top navigation.

Please contact the education department at education@i-w.org for additional questions or assistance. 

Group Sales

This course can be customized and registration discounts are available for large groups. For information on group pricing, please contact our sales team:

Lara Davies | U.S., East
Email: ldavies@i-w.org
Phone: 303-850-3081

Suzie Byrnes | U.S., West and Mid-West 
Email: sbyrnes@i-w.org
Phone: 303-850-3093

Asif Nasim | Outside Continental U.S.
Email: anasim@i-w.org
Phone: 416-455-6569