Cboe Global Markets

All About Options Expert Sheldon Natenberg

April 29, 2021

Sheldon Natenberg will join Cboe Options Institute to explain the importance of understanding the option Greeks when trading options. Learn more about how Natenberg became the gold-standard in options education below, then find more details about the upcoming webinar on Cboe Insights.

He wrote the book on option trading – literally. Sheldon Natenberg may be most well-known for his book “Option Volatility and Pricing: Advanced Trading Strategies and Techniques,” but his experience in derivatives trading and education did not begin or end there.

In 1982, Natenberg began his trading career as an independent market maker in equity options at Cboe, then known as the Chicago Board Options Exchange. Three years later, he began trading commodity options as an independent floor trader at the Chicago Board of Trade (CBOT). Natenberg continued trading at CBOT until 2000, when he became the Director of Education at Chicago Trading Company, a proprietary derivatives trading firm, where he worked until his retirement in 2015. As Director of Education, Natenberg honed his derivatives teaching skills, captivating audiences of all kinds with dynamic but pragmatic lessons.

During his time as a trader, Natenberg wrote “Option Volatility and Pricing: Advanced Trading Strategies and Techniques.” The book, which addresses challenges professional traders face with an emphasis on the practical aspects of option evaluation and risk management, quickly became a must-read for option traders of all kinds.

Natenberg’s book has remained a cornerstone of options education for more than 30 years, thanks to its clear and concise style and comprehensive range of topics. In “Option and Volatility Pricing,” he explains the foundations of option theory, dynamic hedging, risk analysis and more. Drawing from his own trading experience, Natenberg shares how professional option traders approach the market and details strategies and risk management techniques. He also describes how theoretical pricing models work and, perhaps most importantly, how to apply the principles of option evaluation to create successful strategies.

While the market has evolved substantially over the years, the foundations of option trading remain the same. The lessons laid out in Natenberg’s book are timeless and an excellent way for new traders to jumpstart their knowledge. However, now there’s an opportunity to expand on those lessons even further and hear Natenberg break down the basics of option trading, with the context of today’s markets in mind.

Join Cboe Options Institute on Wednesday, May 12 to learn from one of the industry’s most renowned option trading educators. This webinar will interest traders of all ages and experience levels, but if you are new to option trading you won’t want to miss it.

Register now >>>