The Instructors

About Our Instructors

Options Institute Faculty

Russell Rhoads - InstructorRussell Rhoads: Russell Rhoads, CFA, is Director of Education with the Cboe Options Institute. He joined the Institute in 2008 after a career as an investment analyst and trader with a variety of firms including Highland Capital Management in Memphis, Caldwell & Orkin Investment Counsel, TradeLink Securities and Millenium Management. Rhoads is a financial author and editor having contributed to multiple magazines and edited several books for Wiley publishing. In 2008, he wrote Candlestick Charting for Dummies and is the author of Option Spread Trading: A Comprehensive Guide to Strategies and Tactics that was released in January 2011. In addition to duties for the Cboe, Rhoads instructs a graduate level options course at the University of Illinois - Chicago and holds an Instructor role with the Options Industry Council (OIC). He is a double graduate of the University of Memphis, earning a BBA ('92), an MS ('94) in Finance and a Master's Certificate in Financial Engineering (’03) from the Illinois Institute of Technology.

Peter B. Lusk - InstructorPeter B. Lusk: Peter Lusk is a Senior Instructor with the Cboe Options Institute, the educational arm of the Company. Lusk, who joined Cboe in 2007, teaches a variety of options courses for public and institutional investors. He has presented to thousands of investors across the U.S. and has conducted hundreds of webinars for both the Cboe Options Institute and various Cboe member firms. Lusk is a regular contributor of options education articles to financial publications, has appeared on CNBC, and can be seen in the Video Hub on Whats Trading. In addition to responsibilities held with the Institute, Lusk serves as an Instructor with the Options Industry Council (OIC). He remains an active, professional options trader, which allows him to share his trading experiences with class participants. Prior to joining the Institute, Lusk was a highly successful Market Maker on the floor of the Cboe, specializing in equity options trading. In 1993, he joined Steve Fossett’s group - Lakota Trading in Chicago - where he again served as a Market Maker on the floor of the Cboe and had the additional responsibilities of educating and training the firm’s new Market Makers.

Roma Colwell-Steinke - InstructorRoma Colwell-Steinke: Roma Colwell-Steinke is an Instructor with the Cboe Options Institute, the educational arm of the Company. Colwell-Steinke who joined Cboe in 2013, produces and teaches educational programs for public and institutional investors. She has presented to investors and traders across the U.S. and conducted educational webinars for both the Institute and various Cboe member firms. In addition to responsibilities held with the Institute, Colwell-Steinke serves as an Instructor with the Options Industry Council (OIC). Prior to joining the Institute, she was a Designated Primary Market Maker on the trading floor of Cboe and was an educator at Group One LP, teaching new traders the art of market making.

Kevin Davitt - InstructorKevin Davitt: Kevin Davitt is a Senior Instructor for The Options Institute, the educational arm of the Cboe. Kevin joined Cboe in 2015. Prior to his work with The Options Institute, he was a successful Market Maker on the floor of the Cboe for LETCO Trading/TD Options as well as Market Street Securities. Davitt traded a number of Russell Indices between 2003 and 2007. He has worked with retail and institutional clientele in the markets and also has extensive experience in commodity trading. Davitt has provided commentary for Bloomberg, Reuters, Barchart, Inside Futures and various other market based media. He is a graduate of Marquette University (Finance and Political Science). Kevin is a proud Evans Scholar Alum. Outside of work he enjoys time with his wife, young son, and dog. Kevin likes to read, run, and see live music.

Guest Faculty

Jim Bittman - Consulting InstructorJim Bittman: After 27 years with The Options Institute as Staff Instructor, Senior Instructor and Director of Program Development and Instruction, Jim Bittman retired in 2015 and is now a Consulting Instructor. Mr. Bittman is the author of four books, Options for the Stock Investor 2nd ed., Trading Index Options, Trading and Hedging with Agricultural Futures and Options and Trading Options as a Professional. At The Options Institute he has taught courses for public and institutional investors in the U.S. and around the world. In 1980 Mr. Bittman began his trading career as an equity options market maker at the Cboe Options Exchange in 1980. From 1983 to 1993, he was a Commodity Options Member of the Chicago Board of Trade where he traded options on financial futures and agricultural futures. Mr. Bittman received a BA from Amherst College in 1972 and an MBA from Harvard University in 1974. He has also taught in a Masters’ level Program at The University of Illinois in Chicago.

Sheldon Natenberg - Guest FacultySheldon Natenberg: Sheldon Natenberg began his trading career in 1982 as an independent market maker in equity options at the Cboe Options Exchange. From 1985 to 2000 he traded commodity options, also as an independent floor trader, at the Chicago Board of Trade. While continuing to trade, Mr. Natenberg has also become active as an educator. In this capacity he has conducted seminars for option traders at major exchanges and professional trading firms in the United States, Europe, and the Far East. In 2000 Mr. Natenberg took over full-time management of education at Chicago Trading Company, a proprietary derivatives trading firm. Mr. Natenberg formally retired in 2015. Mr. Natenberg is the author of Option Volatility and Pricing: Advanced Trading Strategies and Techniques. The book addresses many of the special problems of the professional trader, with particular emphasis on the practical aspects of option evaluation and risk management.

Dr. Gary Trennepohl - Guest FacultyGary Trennepohl: Gary Trennepohl, PhD is past president of the Oklahoma State University-Tulsa campus and past Dean of the Spears School of Business at OSU. He has held tenured faculty and administrative positions at Texas A&M University, the University of Missouri-Columbia, and Arizona State University, teaching graduate courses in Portfolio Theory, Derivatives, Investment Management, and Corporate Financial Analysis. He has co-authored two textbooks and 30 academic journal articles. Since 1987 he has served as a visiting faculty member for the Cboe Options Exchange (Cboe) in Chicago, teaching seminars for institutional investors, and for the Cronkite School of Journalism at Arizona State University, teaching finance seminars for practicing business journalists. He currently serves on the Investment Committee for the OSU Foundation, is a Trustee for the $14 billion Oklahoma Teachers Retirement System. He chairs the Blue Cross/Blue Shield of Oklahoma Advisory Board of Trustees. In 1968 he graduated with honors from the University of Tulsa with an economics degree, served six years on active duty as a regular officer in the USAF, and in 1977 earned a PhD in Finance from Texas Tech University. In 2013 he was inducted into the Oklahoma Higher Education Hall of Fame and he was inducted into the Tulsa Hall of Fame in 2015.

About The Options Institute at Cboe:
Founded in 1985, The Options Institute at Cboe is the leader in options and volatility trading education, hosting hundreds of seminars each year attended by tens of thousands of investors worldwide. Enriching the learning process with innovative programs, both live and online, The Options Institute reaches a diverse universe of investors, with varying levels of options education and experience: retail customers, institutional investors, financial advisors, fund managers, brokers and regulators. The Institute also partners with trading and brokerage firms to conduct presentations for their staff and customers. Learn more at