Judul: Trading Strategy Using Barrier Option on Exchange Traded Fund
Abstrak: Exchange Traded Fund merupakan reksadana terbuka yang sedang banyak diminati investor. Namun, pergerakan harga Exchange Traded Fund yang sangat tinggi dapat membawa kerugian kepada para investor, sehingga investor perlu waspada terhadap kerugian yang mungkin akan terjadi. Salah satu upaya untuk mengurangi risiko kerugian akibat pergerakan harga yang tinggi yaitu dengan menggunakan strategi perdagangan. Opsi merupakan salah satu produk derivatif yang banyak diminati dalam strategi perdagangan. Karya ilmiah ini membahas mengenai strategi perdagangan menggunakan opsi vanilla dan dengan empat jenis opsi barrier. Berdasarkan hasil penghitungan, strategi perdagangan menggunakan opsi barrier memberikan profit yang lebih besar dibandingkan dengan strategi perdagangan menggunakan opsi vanilla., The Exchange Traded Fund is an open mutual fund that is currently in great demand by investors. However, very high Exchange Traded Fund price movement can cause losses to investors, so that investors need to be aware of potential risk of losses that might happen. One of those attempts to reduce potential risk of losses that occur due to price movements is by using trading strategy. Option is one of the derivative products that investors are interested to use in trading strategy. This paper discusses trading strategies using vanilla option and four types of barrier options. Based on the calculation results, trading strategy using barrier option gives greater profit than trading strategy using vanilla option.
Keyword: Exchange Traded Fund, Investor, European Option, Barrier Option, Trading Strategy

Judul: Long Strangle Strategy Using Barrier Options to Hedge Shares
Abstrak: Saham memiliki risiko yang bergantung pada beberapa faktor. Beberapa faktor tersebut tercermin pada harga saham, sehingga pergerakan harga saham yang tidak pasti akan mempengaruhi risiko. Lindung nilai merupakan suatu strategi untuk meminimalisir risiko yang diperkirakan akan timbul akibat adanya fluktuasi harga di pasar keuangan. Opsi merupakan salah satu produk derivatif yang digunakan dalam aktifitas lindung nilai dan digunakan ke dalam berbagai strategi perdagangan, dari yang sederhana sampai kompleks. Dalam karya ilmiah ini, dilakukan dua strategi lindung nilai yang digunakan untuk melindungi nilai saham dari kenaikan harga, yaitu strategi long strangle menggunakan opsi vanilla dan strategi long strangle menggunakan opsi barrier. Berdasarkan hasil penghitungan, strategi long strangle menggunakan opsi barrier merupakan strategi lindung nilai terbaik. Biaya opsi pada tingkat yang diinginkan dalam strategi long strangle menggunakan opsi barrier bisa didapatkan dengan menetapkan biaya opsi, strike price opsi barrier up and knock-in call dan jarak antara strike price opsi barrier down and knock-in put dengan barrier., Shares have risks that depend on several factors. These factors are reflected in share prices, thus the uncertainty in share price movements will affect the risk. Hedging is a strategy to minimize the risk that is expected to arise due to price fluctuations in financial markets. Options are one of the derivative products used in hedging activities and are used in various trading strategies, from simple to more complex strategies. In this thesis, there are two hedging strategies that are applied to hedge shares from rising prices, namely the long strangle strategy using the vanilla option and the long strangle strategy using the barrier option. Based on the calculation results, the long strangle strategy using the barrier option is the best hedging strategy. The option cost at the desired level in the long strangle strategy using the barrier option can be obtained by defining the cost of the option, the strike price of the barrier up and knock-in call option and the distance between the strike price of the barrier down and knock-in put option with the barrier.
Keyword: Lindung nilai, Opsi Barrier, Opsi Vanilla, Saham, Long strangle

Judul: Studi Taksonomi Katak Subgenus Papurana (Lesson, 1831) dari Halmahera (Anura, Ranidae, Hylarana), Studi Taksonomi Katak Subgenus Papurana (Lesson, 1831) dari Halmahera (Anura, Ranidae, Hylarana
Abstrak: I reevaluated taxonomic of subgenus Papurana position from Halmahera based on morphological and molecular analyses. My results show that two separate species occur on the Halmahera Island, each nested within two distinct clades (hereafter papua clade and celebensis clade), one of which corresponds to H. moluccana (celebensis clade) and the other to an unidentified species (papua clade). By p-distance ranging from 6.9 to 11.5% on the 16S rRNA gene, the unidentified species (Hylarana sp.) is genetically different from all congeners of the papua clade. The Hylarana sp. can be distinguished from all congeners by following combination of charactes: vomer teeth in two oblique rows with narrow inter-vomer distance; snout rounded dorsally; dorsum with few scattered cone-shaped tubercles that are black with white tips; distinct skin folds (ridges) on the dorsal side of the thigh coinciding with dark brown cross bars; a marbled pattern on the ventral side of the thigh and yellowish groin. I also present new data for H. daemeli, H. volkerjane, and H. arfaki from the western region of Papua. Furthermore, I found that H. celebensis has numerous mtDNA lineages, indicating cryptic diversity within the celebensis clade. The discovery of two separate species on Halmahera necessitates more research into the biogeographic history of Hylarana in Northern Moluccas.
Keyword: frog, Halmahera, Hylarana, morphology, Papurana, phylogenetic