Effective January 1, 2026, the proficiency rules applicable to Investment Dealer Approved Persons with CIRO have changed. This course is no longer acceptable for the purposes of CIRO approval with an Investment Dealer.
For more information, visit the CIRO Proficiency website.
What will you learn about?
- Bullish, bearish, and volatility-based option strategies
- The risk and reward parameters of the various option strategies
- The rules and regulations associated with:
- Opening and supervising option accounts
- Exchanges and clearinghouses, particularly the Montreal Exchange and the CDCC
- Handling client complaints
What is the course syllabus?
Chapter 1 - Bullish Option Strategies
Topics covered in this chapter are:
- Introduction
- Long Call
- Married Put
- Covered Call (also known as Covered Write)
- Put Writing
- Benchmark Indexes for Income-Producing Option Strategies
- A Brief Review of Spreads, Straddles and Combinations
- Bull Call Spread
- Bull Put Spread
Chapter 2 - Bearish Option Strategies
Topics covered in this chapter are:
- Introduction
- Long Put
- Protected Short Sale
- Covered Put Sale
- Call Writing
- Bear Put Spread
- Bear Call Spread
Chapter 3 - Option Volatility Strategies
Topics covered in this chapter are:
- Introduction
- An Introduction to Volatility
- Importance of Volatility to Options Trading
- Short Volatility Strategies
- Long Volatility Strategies
Chapter 4 - Options Supervisors Responsibilities
Topics covered in this chapter are:
- The Role of Supervision
- The Supervisor Approval Category
- Supervisors Proficiency Requirements
- Key Responsibilities of Designated Options Supervisors
Chapter 5 - Opening and Approving Option Accounts
Topics covered in this chapter are:
- Introduction
- CIRO Rule 3252 on Account Opening and Approval
- Supervision of Account Openings and Approvals
- Retail Account Opening and Approval Process
- Corporate and Institutional Option Account Opening and Approval Process
- Permissible Institutional Option Transactions
Chapter 6 - Supervising Daily and Monthly Option Account Activity
Topics covered in this chapter are:
- Introduction
- Important Elements of Options Supervision
- Daily Trading Review
- Monthly Trading Review
- Summary of Common Compliance Problems Related to the Supervision of Option Trading
- Investigations
- Sanctions
Chapter 7 - Handling Client Complaints
Topics covered in this chapter are:
- Avoiding Client Complaints
- Types of Client Complaints
- Required Procedures for Regulatory Complaints
- Regulatory Reporting
How will you learn?
CSI’s online learning system helps you meet your study goals. You’ll benefit from:
- Textbook readings available in PDF, eBook and printed format
- Course materials accessed through your computer, laptop, tablet, or phone, or by downloading the e-book for offline reading
- Online assistance from CSI’s academic support specialists
- Online post-chapter review questions to assess your progress
- Learning objectives that keep you focused
- Annual course updates to ensure you’re learning the most current and up-to-date practical material
Course Completion, Wall Certificate and Digital Badge
Upon successfully completing this course, you will be able to download a Notice of Course Completion available through your student profile. This will remain on your profile as formal confirmation of course completion.
You can also accept a digital badge through your student profile after successful course completion. Digital badges are portable image files that allow you to share your credentials across the web. You can post them to your email signature, personal website, social media channels—even to electronic copies of your resume.
CSI will mail you a wall certificate within 4 – 6 weeks of course completion. Frames to display your certificate are available. Please ensure that your First and Last Name on your profile matches your First and Last Name on your Government Issued Photo identification – this will ensure you receive an accurate certificate.
CSI will be pleased to issue an Honours Certificate to all students who obtain a final course mark of 85% or higher.