Your incredulousness would probably be shared by many in Oz and is hence forgiveable. In small time Sydney, we are well removed from the noise and chatter of London, NYC and Tokyo. The worlds best traders are predominantly found in just a few select locations worldwide. Aussies simply aren't aware of the multi million dollar bonuses that young, savvy traders are pulling in with frightening consistency.
If Wookie wants to become a trader, I see no problem with learning about derivatives 12 months earlier than everyone else. In an industry where having an edge is everything, the ability to display your own edge goes a hell of a long way. Say he makes an industry contact during Year 12 or first year uni - he is much more likely to capitalize and leverage that contact if he can price an option using the Black Scholes formula and talk about the latest contribution to his P&L.
In London and the US there are plenty of young prodigy traders that end up getting snapped up by IBs. If Wookie wanted to intern at a bulge bracket bank in HK or Tokyo, he would have a lot of trouble competing against the target unis of Oxbridge, Wharton, MIT, Harvard etc. Hence he needs to start working hard now.
