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The options markets

The options markets: an online course in 20 short lessons with quizzes and a final certificate, on Unicorn Academy.

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Read the first lessons

  1. What an option is

    An option is a contract that gives its buyer the right, but not the obligation, to buy or sell an asset at a set price by a certain date. Th…

  2. Calls and puts

    There are two types of option. A call gives the right to buy the underlying at the set price. A put gives the right to sell it.…

  3. Strike, expiry and premium

    Every option is defined by three elements. The exercise price, or strike, is the price at which the underlying can be bought or sold. The ex…

The options markets: 45 questions and answers ›

Course programme

Module 1 · The basics

  1. What an option is
  2. Calls and puts
  3. Strike, expiry and premium
  4. Buyer and seller
  5. The standard contract

Module 2 · The value of an option

  1. Intrinsic value and time value
  2. In, at and out of the money
  3. American style and European style
  4. What moves the premium
  5. Implied volatility

Module 3 · The Greeks

  1. Delta
  2. Gamma
  3. Theta
  4. Vega
  5. Exercise and assignment

Module 4 · Strategies and risks

  1. Buying calls and puts
  2. The covered call
  3. The protective put
  4. Vertical spreads
  5. The risks of uncovered selling and prudence

The first lessons of every course are available right away, with no sign-up. The final lessons and the certificate are unlocked with an in-app purchase, for a single course or for all courses together. An Apple or Google account is optional and only used to restore your progress on another device.

Frequently asked questions

Can a beginner learn finance with an app?

Yes. The courses start from the basic concepts, explain every term when it first appears and end each lesson with three questions.

How long does a course take?

Each course has 20 lessons of a few minutes each: it can be completed in a few hours, at your own pace.

Which languages are the courses in?

Available in 16 languages: Italian, English, French, German, Spanish, Portuguese, Russian, Chinese, Japanese, Hindi, Korean, Turkish, Indonesian, Arabic, Vietnamese and Polish.

Are the courses financial advice?

Unicorn Academy is education: it does not provide financial advice or invite you to buy financial instruments. Investing involves the risk of losing your capital.

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Stocks, pre-IPO, forex, futures, options and crypto in short lessons.

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