Curriculum
Your path to market fluency.
Start with stocks, then options, then the wider derivatives world — futures, swaps, and FX. Your progress saves itself, right here in your browser.
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Stocks
Start here: shares, dividends, indices, and what moves a price.
- What is a stock? A share is a slice of a real company — here's what owning one actually means. +10 XP
- The stock market & how shares trade Where shares are bought and sold, and how a price actually gets set. +10 XP
- What moves a stock's price Earnings, news, and expectations — why prices jump even when nothing 'happened'. +10 XP
- Dividends & total return Two ways a stock pays you — the price going up, and cash in your pocket. +15 XP
- Market cap & company size Why share price alone tells you nothing about how big a company is. +10 XP
- Indices & ETFs Buy a whole market in one click — what indices and ETFs are, and why they're popular. +15 XP
- Valuing a stock Is it cheap or expensive? A gentle intro to earnings, the P/E ratio, and why valuation is hard. +15 XP
- The risks of owning stocks Stocks can fall as well as rise — the real risks, and the simple ways investors manage them. +15 XP
Options
From your first call to advanced multi-leg strategies.
- What is an option? The friendly, plain-English version: a contract that gives you a choice, not an obligation. +10 XP
- Calls vs puts Two flavours of option: one is the right to buy, the other the right to sell. +10 XP
- In, at, and out of the money Moneyness — whether an option would be worth exercising right now. +10 XP
- What drives an option's price Premium breaks into two parts — intrinsic and extrinsic value — pushed around by price, time, and volatility. +10 XP
- Buying vs selling options Every option has two sides. Buyers pay for rights; sellers collect premium and take on obligations. +10 XP
- Exercise & assignment What actually happens when an option is used — and who's on the hook when it is. +10 XP
- Time decay & expiration An option is a melting ice cube — its time value erodes every day, fastest near the end. +10 XP
- Meet the Greeks Delta, gamma, theta, vega and rho — the dials that tell you how an option's price will react. +15 XP
- Understanding volatility Implied vs realized volatility, IV rank, the vol crush, and why skew exists. +15 XP
- Vertical spreads Combine two options to define your risk, lower your cost, and cap your reward. +15 XP
- Income: covered calls & cash-secured puts The two friendliest ways to be an options seller and collect premium with defined risk. +15 XP
- Iron condors A neutral, defined-risk strategy that profits when the stock goes nowhere. +15 XP
- Risk management The unglamorous skill that separates traders who last from those who don't. +15 XP
- Synthetic positions Put-call parity lets you rebuild any instrument from the others — the deepest idea in options. +20 XP
- Calendars & diagonals Trade time itself by pairing options with different expirations. +20 XP
- Ratio spreads & backspreads Unbalanced spreads with more contracts on one side — and the asymmetric payoffs they create. +20 XP
- Adjusting positions Trades rarely go exactly to plan. Rolling and defending are how pros manage the ones that don't. +20 XP
- Portfolio Greeks Stop managing trades one at a time. Manage the aggregate risk of your whole book. +20 XP
- Market microstructure How orders actually fill — bid/ask, market makers, liquidity, and the hidden costs of trading. +20 XP
Derivatives
The wider toolkit: futures, forwards, swaps, and FX.
- The derivatives family Options are one corner of the derivatives world. Here's how futures, forwards, and swaps differ — and why it matters. +20 XP
- Futures contracts Standardised, exchange-traded promises to buy or sell later — the workhorse of hedging and speculation. +15 XP
- Swaps Agreements to exchange cash flows over time — the tool institutions use to transform their risk. +15 XP
- Currency swaps & FX Exchanging one currency for another — how FX swaps work and why investors diversify across currencies. +15 XP
- Options vs futures Two ways to bet on a price — one a right, one an obligation. When to reach for each. +15 XP
- Hedging with derivatives Derivatives aren't only for betting — they're how businesses and investors offset risk they already carry. +20 XP
More on the way — bonds, FX & the wider markets.