Do Director's of PLC's have to declare Derivative Positions ?

I'm just wondering if Directors of Publicly Listed Companies have to declare derivative positions that they hold in the stock of the company of which they are directors ? They do have to declare movement's of real shares in their own company.

I'm just curious because I can see their actual real shareholdings on other sites and they don't appear to vary that much. And I'm thinking I'd be buying and selling some shares to take advantage of market movements from time to time, if I was a PLC director.

And by derivative positions I mean CFD's, spread betting, option trading, credit default swaps etc.

If I haven't explained my question right I'll try and give an example of what I mean. Say director X of Company X holds €100,000 of company X's shares. They double in value to €200,000. Director X think's jee I have a great company but this valuation won't last, I'll sell €100,000 and take the profit. But his sale will be seen by the stock market and the market will think that Director X doesn't believe in his own company, which will probably cause the price to fall.
So instead Director X leaves his shareholding stand but takes a derivative "Short" position of €100,000 in his own stock. This lock's in his profit in case the share price drops.

...question continued

.... so I'm asking if a Director of a Publicly listed company has to declare derivative positions in his own company ?

And are Directors of listed companies even Allowed to take derivative position's in their own companies ?

Anybody know the answer. ?