Hedging Stock and Portfolio Margin

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Learn how to use the collar strategy for more efficient capital management leveraging portfolio margin versus standard margin.


John Burnside
Risk Managerm, Freeboard Capital, LLC

After graduating from Indiana University, John started trading at the CBOE in 1986. After trading for 4+ years, John moved to Indianapolis where he worked for Merrill Lynch for a time. In 1993 John returned to the CBOE to trade for G-Bar GP. John began serving on exchange committees in 1994. He was selected in 1999 to join the Business Conduct Committee. This committee is the liaison committee between the CBOE, the Department of Justice and the SEC. John Chaired this committee for three years which included the 9/11 crisis. John was also a Designated Primary Market Maker by the CBOE.  John traded for such firms as Susquehanna and TD Bank. He has also traded for his own sole proprietor account. John is a partner and risk manager for Freeboard Capital.  Freeboard Capital is a federally registered RIA. 

Todd Rich
Senior Strategist, Investor Education, E*TRADE Securities LLC

Todd Rich is a Senior Strategist of Investor Education with E*TRADE Securities LLC. Todd joined E*TRADE with the acquisition of OptionsHouse, where he was President of OptionMonster, an education and media entity. He’s had an extensive career in the financial industry, having been a market maker on the floor of the Chicago Board Options Exchange, and then migrating into working directly for the exchanges with stints at Eurex, BOX Options, and the New York Stock Exchange. He is well-versed in options trading as well as market structure. He has both a BA and MBA from UCLA. Although having grown up in California, he now lives in Chicago with his wife and two sons.