Options, Futures, and Other Derivativesby John C. Hull
Pub. Date: 10/28/2010
One of the exciting developments in finance over the last 20 years has been the growth of derivatives markets. In many situations, both hedgers and speculators find it more attractive to trade a derivative on an asset than to trade the asset itself. Some derivatives are traded on exchanges. Others are traded by financial institutions, fund managers, and corporations in the over-the-counter market, or added to new issues of debt and equity securities. Much of this book is concerned with the valuation of derivatives. The aim is to present a unifying framework within all derivatives-not just options or futures-can be valued.
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Table of Contents1. Introduction.
2. Futures Markets and the Use of Futures for Hedging.
3. Forward and Futures Prices.
4. Interest Rates and Duration.
6. Options Markets.
7. Properties of Stock Option Prices.
8. Trading Strategies Involving Options.
9. Introduction to Binomial Trees.
10. Model of the Behavior of Stock Prices.
11. The Black-Scholes Model.
12. Options on Stock Indices, Currencies, and Futures.
13. The Greek Letters.
14. Value at Risk.
15. Estimating Volatilities and Correlations.
16. Numerical Procedures.
17. Volatility Smiles and Alternatives to Black-Scholes.
18. Exotic Options.
19. Extensions of the Theoretical Framework for Pricing Derivatives: Martingales and Measures.
20. Interest Rate Derivatives: The Standard Market Models.
21. Interest Rate Derivatives: Models of the Short Rate.
22. Interest Rate Derivatives: More Advanced Models.
23. Credit Risk.
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There was one review that gave two stars to that book with the following reasoning: "Beware, you'll need to spend another $40 (collective sigh in horror) for Answers Manual"... I find it a bit strange - average reader of such a book will be earning more than $100K/year for most of the career. So he should beware of ... $40 for another piece of invaluable learning material? We need a balance check here :)
Twice we tried to order 2 copies of this Pearson textbook from B&N. Both sets (all 4 copies) were damaged, including broken spines. Don't order this item from B&N unless you also have the time & money to have copies re-bound.