Paul E. Peterson is a Clinical Professor of Finance (Retired) at the University of Illinois at Urbana-Champaign, and was The Clearing Corporation Clinical Professor of Derivatives Trading. He is President of Zebra Economics, Inc., a consulting firm based in Urbana, Illinois.

• 1. Introduction 2. Trading Futures and Options 3. Understanding and Interpreting Futures Prices 4. Futures Pricing 5. Margins, Clearing, Delivery, and Final Settlement 6. Market Regulation 7. Hedging with Futures 8. Hedging and the Basis 9. Futures Hedging Enhancements 10. Profit Margin Hedging and Inverse Hedging 11. Hedging and Basis Trading 12. Basis Trading and Rolling a Hedge 13. Speculating with Futures 14. Introduction to Options on Futures 15. Option Pricing 16. Profit Tables and Profit Diagrams 17. Hedging with Options 18. Option Hedging Enhancements 19. Speculating with Options 20. Commodity Swaps.

Paul E. Peterson is a Clinical Professor of Finance (Retired) at the University of Illinois at Urbana-Champaign, and was The Clearing Corporation Clinical Professor of Derivatives Trading. He is President of Zebra Economics, Inc., a consulting firm based in Urbana, Illinois.

• 1. Introduction 2. Trading Futures and Options 3. Understanding and Interpreting Futures Prices 4. Futures Pricing 5. Margins, Clearing, Delivery, and Final Settlement 6. Market Regulation 7. Hedging with Futures 8. Hedging and the Basis 9. Futures Hedging Enhancements 10. Profit Margin Hedging and Inverse Hedging 11. Hedging and Basis Trading 12. Basis Trading and Rolling a Hedge 13. Speculating with Futures 14. Introduction to Options on Futures 15. Option Pricing 16. Profit Tables and Profit Diagrams 17. Hedging with Options 18. Option Hedging Enhancements 19. Speculating with Options 20. Commodity Swaps.