CBOE Risk Management Conference

2011 Agenda

Sunday, February 27, 2011

10:30 - 12:30	Conference Registration
12:30 - 1:45	Fundamentals of Options Part One: Options Strategy and Pricing Option prices and market dynamics Implementing investor strategies Managing market exposure using options Jim Bittman, Senior Staff Instructor, CBOE Options Institute Jerry Eipers, Director of Trading Optimization, DRW Trading Group Bittman & Eipers Presentation
1:45 – 2:00	Session break
2:00 – 3:15	Fundamentals of Options Part Two: Historical Performance of Options-Related Strategies An analysis of the historical performance of covered call, cash-secured short put and collar strategies Comparing options based strategies to more traditional stock and bond portfolios Keith Black, Associate Director of Curriculum, CAIA Keith Black Presentation Matt Moran, Vice President, CBOE Matt Moran Presentation
3:15 – 3:30	Coffee break
3:30 – 4:45	Fundamentals of Options Part Three: Plan Sponsor and Consultant Perspectives on Options for Asset Allocation Changes in sponsor operating policies and procedures needed to put options-based investment ideas into practice Benefits and challenges involved with getting options-related investment programs included as part of a plan's asset allocation process Phillip J. Kosmala, Executive Vice President and Director of Manager Research, Lowery Asset Consulting Gary Trennepohl, Trustee at Oklahoma Teachers Retirement System and Professor of Finance at Oklahoma State University Kosmala & Trennepohl Presentation
4:30 – 5:30	Conference Registration Continues
6:00 – 8:00	Opening Reception on the Grand Lawn at St. Regis cocktails and dinner

Monday, February 28, 2011

7:30 – 8:30	Breakfast buffet on the Pacific Lawn Conference Registration Continues
8:30 – 9:30	Keynote Speaker: William J. Brodsky, CBOE Chairman and CEO CBOE and Options Industry Issues; Report from Washington: Congressional and Regulatory Update
9:30 - 9:45	Session break
9:45 - 10:45	Keynote Speaker: Dr. Jose Pinera, Former Minister of Social Security of Chile "Reinventing Social Security for the 21st Century" Interview on CBOE TV
10:45 – 11:00	Coffee break
11:00 - 12:15	Tail Risk Protection: A panel discussion on why and how investors might hedge downside risk The case for hedging as an offensive strategy in today's market Determining acceptable levels of protection and costs Strategy alternatives for implementing hedges Moderator: J.D. Cronin, Derivatives Analyst, Concept Capital Adam Blitz, Chief Investment Officer, Evanston Capital Management Paul Britton, Chief Executive Officer, Capstone Chuck Fannin, Portfolio Manager and Options Trader, First Quadrant Ken Grant, President and Founder, Risk Resources
12:15 – 1:45	Lunch and networking on the Pacific Lawn
1:45 – 3:00	VIX Option Strategies Evolution of the product Understanding the peculiarities/idiosyncrasies of the product How investors can and should use VIX to accomplish goals Jason Hedberg, Head of US Equity Derivative Flow Sales, Société Générale Jeremy Wien, Head of VIX Trading, Peak6 Capital Management Hedberg & Wien Presentation	Short and Relative Value Volatility Strategies Defining the universe of volatility strategies Index and single stock risk management techniques Establishing plans and communicating results with institutional and high-net-worth clients Daniel Hutchinson, Global Risk Manager, Pengana Global Volatility Fund Daniel Hutchinson Presentation Ken Kwalik, Vice President, Goldman Option Advisory Services
3:00 – 3:15	Coffee break	Coffee break
3:15 – 4:30	Cross-Asset Volatility Strategies Analyzing credit spreads versus equity volatility Case studies of cross-market strategies involving equity, credit, commodities, FX and rates How information from various markets impacts equity portfolio management Dr. Vineer Bhansali, Managing Director and Portfolio Manager, PIMCO Olivier Sarfati, Director, Citigroup Global Markets Olivier Sarfati Presentation	Volatility ETNs and ETFs: A Panel Discussion on the Construction and Usage of Volatility-Based Investment Products Volatility as an asset class Comparisons and contrasts of product designs Hedging, investment and trading applications Moderator: Timothy Weithers, Co-Director of Education, Chicago Trading Company, LLC Tim Weithers Presentation Srikant Dash, Managing Director, S&P Indices Srikant Dash Presentation Maneesh Deshpande, Managing Director, Barclays Capital Maneesh Deshpande Presentation Joanne Hill, Head of Investment Strategy, ProFund Advisors Joanne Hill Presentation

Tuesday, March 1, 2011

7:15 - 8:00	Breakfast Buffet on the Pacific Lawn
8:00 - 9:00	Keynote Speaker: David M. Blitzer, Ph.D., Managing Director & Chairman of the Index Committee, S&P Indices The S&P 500 for 2011 and Beyond: An Economist's Look Forward Interview on CBOE TV David Blitzer Presentation
9:00 - 9:15	Coffee break
9:15 - 10:30	Evolution of Equity-Based Insurance Guarantees Product and market trends New product designs Post-crisis hedging techniques Braj Agrawal, Managing Trader, Columbia Management Investment Advisors Stephen Stone, Vice President, SunAmerica Financial Group Stephen Stone Presentation	Equity Correlation and Macro Investment Decisions, Crash Risk and Correlation Trading Paradigms Primer on correlation and it's relation to asset allocation processes Impact of correlation on options pricing and common options trading strategies Case studies of trades that implement correlation views John-Mark Piampiano, Portfolio Manager, Pine River Capital Management John-Mark Piampiano Presentation Mika Toikka, Managing Director, Credit Suisse Alternative Investments
10:30- -11:00	Coffee Break
11:00 - 12:15	Long-Dated Equity Index Volatility Measuring and analyzing volatility term structures Trading and risk management concerns Implications for the insurance industry Bertrand Delarue, Global Head of Equity Derivatives Product Design, BNP Paribas Anurag Joshi, Senior Derivatives Portfolio Manager, Aviva Investors Delarue & Joshi Presentation	What the Derivatives Markets Tells us About the Macro Economy Extracting information from various derivatives markets Drawing conclusions from relationships across assets Understanding macroeconomic risk perceptions Dean Curnutt, President, Macro Risk Advisors Dean Curnutt Presentation Michael Purves, Chief Market Strategist and Head of Derivatives Research, BGC Financial Michael Purves Presentation
1:00 6:00- 8:30	Golf Tournament at Monarch Beach Golf Links Buffet Dinner for all delegates at Club 19 (on-site)

To see the agenda and keynote speakers from last year click here: Agenda and Keynote Speakers.

Please see our Sponsorship Opportunities page for information or contact John Angelos at 312-786-7063 or angelos@cboe.com on becoming a sponsor for the 28th Annual CBOE Risk Management Conference.