17
Date: Wednesday, October 17, 2018
Time: 10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar
Earn 2 CPE credits
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Featuring  (click image for bio)

Josh Angell
CFA, ASA, CPA/ABV
Ellrich, Neal, Smith & Stohlman, P.A.

About This Program

Many valuation professionals struggle with applying option pricing models to estimate discounts for lack of marketability (DLOM). With multiple option pricing models including European put options, shout put options, look-back put options, Asian put options, forward-starting put options, and perpetual exchange options, there is complexity that cause many to steer clear of options for purposes of estimating DLOM. Josh Angell clearly and practically explains the theoretical basis for the option models, as well as explores the strengths, weaknesses, advantages, disadvantages, limitations, and arguments for and against using such models. He'll discuss applicable case law approving and/or disapproving option pricing models and provide guidance on methods for estimating key inputs, such as private company volatility, dividend yields, and the holding period. Attend this webinar and become more confident on how to use the option pricing models in your practice.

Agenda

    • Overview of Option Pricing Models
      • European Put Option
      • Shout Options
      • Look-Back Put Options
      • Asian Put Options
      • Forward Starting Put Options
      • Perpetual Exchange Options
    • Overview of Key Assumptions and Theory
    • Overview of Model Strengths and Weaknesses
    • Case Law Review
    • Estimating Option Pricing Inputs
    • Practical Examples

    Learning Objectives

    • Describe theory and mathematical application of the primary option pricing models for estimating DLOM.
    • List the key assumptions and theoretical rationale for the option pricing models
    • Reiterate major arguments for and against using the option pricing models, including strengths and weaknesses applicable to each model
    • Describe recent case law applicable to the option models
    • Describe methods for estimating key parameters for the option pricing models
    • Apply the option pricing models in practice through example

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    Multi-User CPE Policy

    Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.

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    CPE Information

    Prerequisites: Knowledge of Business Valuation
    Program Level: Advanced
    Preparation Required: None
    Delivery Method: Group Internet-Based
    Recommended CPE: 2 Credit Hours (Accounting Technical)

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