- BMATH and MA in Quatitative Finance, 2008, University of Waterloo
- Global derivatives and strategic risks, CIBC
- Provide quantitative support on on the trading floor.
- Use financial math models to build spreadsheets and programs that compute the values and risks of options and derivatives
- Test programs developed by other team members.
- Help in software migration projects - moving from old pricing software to new pricing software. Ensuring that numbers (prices, risk sensitivities) match or explain why they don't math.
- Provide training and support to people who use our tools and programs.
- Keep up to date with the continually developed skills related to new financial products, industry trends, financial modelling, and technology.
What is an option?
- A stock is like a small portion of a company. If the company does well, the stock foes up. If it does poorly, the stock foes down. For example, suppose you buy one share of Tim Hortons for $10. If lots of people buy coffee, the price might increase to $15 and you make $5. If people stop buying coffee, it might go down to $8 and you lose $2.
- Suppose I say to you on May 1, 2010, I will sell you one share of Tim Hortons for $12, regardless of what the market price is, but only if you want. This is a call option, a type of financial derivative.
- If the stock is work $12 on May 1, will you buy the stock from me for $12. What if the stock was worth $8?
- How much would you pay me for this call option? That is, the option to buy one share of Tim Hortons for $12 on May 1?
- Options can be on anything that's random: stocks, foreign currencies, oil prices, wheat prices, even weather!