## Overview

Our free CFA Level II Derivatives notes cover everything you need to know for this module. From forwards futures and swaps valuation, option valuation and greeks, to interest rate currency and credit derivatives, we've got you covered. Whether you're in a classroom or taking the self-study route, these notes provide added peace of mind, knowing that you have everything you need to help consolidate and revise effectively for CFA Level II exam. Think something could be better? [Give us a shout on our contact page](/contact), and we'll take a look.

We've created comprehensive study guides for all CFA Level II topics. Check out our other free notes below:

- [Ethical and Professional Standards](./cfa-level2-ethical-and-professional-standards)
- [Quantitative Methods](./cfa-level2-quantitative-methods)
- [Economics](./cfa-level2-economics)
- [Financial Statement Analysis](./cfa-level2-financial-statement-analysis)
- [Corporate Issuers](./cfa-level2-corporate-issuers)
- [Equity Investments](./cfa-level2-equity-investments)
- [Fixed Income](./cfa-level2-fixed-income)
- [Derivatives](./cfa-level2-derivatives)
- [Alternative Investments](./cfa-level2-alternative-investments)
- [Portfolio Management and Wealth Planning](./cfa-level2-portfolio-management-and-wealth-planning)

## 1. Forwards futures and swaps valuation

- [Cost-of-carry pricing and convexity effects](./cfa-level2-forwards-futures-and-swaps-valuation-cost-of-carry-pricing-and-convexity-effects)
- [Swap valuation and cash flow mapping](./cfa-level2-forwards-futures-and-swaps-valuation-swap-valuation-and-cash-flow-mapping)
- [FRA valuation and applications](./cfa-level2-forwards-futures-and-swaps-valuation-fra-valuation-and-applications)

## 2. Option valuation and greeks

- [Binomial trees and risk-neutral pricing](./cfa-level2-option-valuation-and-greeks-binomial-trees-and-risk-neutral-pricing)
- [Black-scholes-merton and implied volatility](./cfa-level2-option-valuation-and-greeks-black-scholes-merton-and-implied-volatility)
- [Delta gamma theta vega and rho hedging](./cfa-level2-option-valuation-and-greeks-delta-gamma-theta-vega-and-rho-hedging)

## 3. Interest rate currency and credit derivatives

- [Caps floors and swaptions valuation](./cfa-level2-interest-rate-currency-and-credit-derivatives-caps-floors-and-swaptions-valuation)
- [Currency options and cross-currency swaps](./cfa-level2-interest-rate-currency-and-credit-derivatives-currency-options-and-cross-currency-swaps)
- [Credit default swaps and index products](./cfa-level2-interest-rate-currency-and-credit-derivatives-credit-default-swaps-and-index-products)


Free CFA Level II Derivatives Study Guide