Options, Futures, and Other Derivatives
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This book has been widely-adopted for its comprehensivecoverage, exceptionally clear explanations of difficult material, andavoidance of nonessential math. This book bridges the gapbetween the theory and practice of derivatives, and helps readers develop asolid working knowledge of how derivatives can be analyzed. It deals with awide range of derivative products and provides complete coverage of keyanalytical material. Booknews A graduate level business text providing a working knowledge of how derivatives can be analyzed. Hull (U. of Toronto) keeps non-essential mathematics at a minimum while still rigorously introducing the key components of futures markets and the use of futures for hedging, interest rate futures, swaps, options markets, trading strategies, binomial trees, the Black-Scholes analysis, numerical procedures, models of the yield curve, and credit risk and regulatory capital. The conclusion, thankfully, reviews the key concepts and additional equations are presented at the end of the discussions. The text assumes the student has had introductory courses in finance, probability and statistics. Annotation c. by Book News, Inc., Portland, Or.
Preface1Introduction12Futures Markets and the Use of Futures for Hedging183Forward and Futures Prices454Interest Rate Futures805Swaps1116Options Markets1367Properties of Stock Option Prices1518Trading Strategies Involving Options1739A Model of the Behavior of Stock Prices19010The Black-Scholes Analysis20711Options on Stock Indices, Currencies, and Futures Contracts24712A General Approach to Pricing Derivative Securities27413Hedging Positions in Options and Other Derivative Securities29514Numerical Procedures32915Interest Rate Derivative Securities37016Exotic Options41417Alternatives to Black-Scholes for Option Pricing43418Credit Risk45519Review of Key Concepts469Table for N(X) when X [actual symbol not reproducible]0473Table for N(X) when X [actual symbol not reproducible]0474World Exchanges475Glossary of Notation476Author Index481Subject Index484
