Energy Trading Module
Structure of Energy Markets
Spot Market versus Derivative Market
Contract term/Price
Clearing/Margin/Settlement/Delivery
Liquidity, Volatility, Intra-market Correlation
Modeling
Hedging and Risk Management
Spot Price Behavior, Forward Price Curve
Risk/Return
Marking to Market
Contango/Backwardation
Speculating with Energy Futures
Arbitrage
Spread Trading
Basis
Crack Spread, Spark Spread and FRAC Spread