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All posts for the month October, 2018

There are two applications of delta hedging presented in the CFA curriculum: You have an existing position in the underlying security and you want to hedge that position with options. You have an existing position in options and you want to hedge that position either with the underlying security or with options. I’ll cover both […]

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I recently wrote a question for a mock exam about implementation shortfall, and it occurred to me that an article on the subject was long overdue. Implementation shortfall has been the bane of Level III CFA candidates for a few decades now, and for good reason: in the curriculum, there isn’t a straightforward, comprehensive example […]

This article is for members only.  You can become a member now by purchasing a

CFA® Level III Membership

This will give you access to this and all other articles at that membership level.