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Trading and Hedging with Agricultural Futures and Options [NOOK Book]

Overview

This clear,concise,and practical guide explains how to use agricultural options as a safe,effective component of any trading portfolio. Outlining different strategies based on whether traders are seeking to reduce risk,increase income,or control costs it provides nuts-and-bolts examples and techniques for effective use of these versatile tools. It also covers option basics,special software,the differences between hedging and trading strategies,understanding price behavior and ...
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Trading and Hedging with Agricultural Futures and Options

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Overview

This clear,concise,and practical guide explains how to use agricultural options as a safe,effective component of any trading portfolio. Outlining different strategies based on whether traders are seeking to reduce risk,increase income,or control costs it provides nuts-and-bolts examples and techniques for effective use of these versatile tools. It also covers option basics,special software,the differences between hedging and trading strategies,understanding price behavior and the importance of volatility,and more.

Today's Premier Guidebook for Understanding Agricultural Options and Making Them a Key Part of Your Trading and Risk Management Strategy

Agricultural futures and options represent a vital niche in today's options trading world. Trading and Hedging with Agricultural Futures and Options takes an in-depth look at these valuable trading tools,and presents clear,proven strategies and techniques for both hedgers and traders to achieve their goals while minimizing risk.

Relying on nuts-and-bolts techniques and examples as opposed to the mathematical models and theory favored by other options-trading manuals this practical,hands-on book discusses many topics,including:

  • How hedgers and traders can use options effectively with realistic expectations
  • Methods to understand price behavior including the "Greeks" (delta,gamma,vega,and theta)
  • The importance of volatility and little-known ways to make it work to your advantage

For producers and processors,agricultural futures and options are necessary components for controlling costs and hedging risks. For traders,they are proven vehicles for earning exceptional risk-adjustedprofits. Whichever side of the aisle you are on,Trading and Hedging with Agricultural Futures and Options will provide you with the answers you need to effectively use these versatile tools and make them an integral part of your business.

Markets in commodity futures and options first arose and continue to exist as tools for commodity producers and commodity processors to manage risk. Along the way,traders and speculators discovered their value as instruments for producing consistently superior gains. For both groups,however,authoritative and understandable information has been difficult,if not impossible,to find.

Trading and Hedging with Agricultural Futures and Options provides the information you need to get the most benefit from your trading program. Written by James Bittman,one of today's leading teachers and strategists on the effective use of futures and options,this long-awaited book is divided into three sections:

  • The Basics of Futures and Options The vocabulary,mechanics,value components,and price behavior of these dynamic instruments
  • Hedging Strategies A five-step process illustrating fundamental strategies for both long and short hedgers,with a chapter devoted to advanced hedging strategies
  • Trading Strategies Explanations of how to develop realistic expectations and analyze trading alternatives,including use of the OP-EVALFTM computer program

OP-EVALFTM Included in its entirety on the attached CD,this custom-designed,market-tested program helps you evaluate various alternatives and strategies and cuts weeks from your learning curve!

Diagrams of basic hedging and trading strategies . . . Discussions of volatility and advanced option pricing topics . . . The role of delta,gamma,theta,and vega on price movement . . . Strategies and scenarios to profit from both rising and falling markets . . . Trading and Hedging with Agricultural Futures and Options will help traders and hedgers understand how agricultural options work,how they can be used to pursue specific hedging and trading goals,and what are the pros and cons of using individual techniques. Clear,concise,and practical,it explains every nuance of these unique and historically profitable instruments and is today's most comprehensive,easy-to-understand resource for all traders,regardless of their goals and objectives.

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Product Details

  • ISBN-13: 9781118538760
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 10/10/2012
  • Series: Wiley Trading , #91
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 353
  • Sales rank: 1,242,310
  • File size: 12 MB
  • Note: This product may take a few minutes to download.

Meet the Author

James B. Bittman is a staff instructor at The Options Institute, the education division of the Chicago Board Options Exchange (CBOE), where he teaches seminars on options to investors in the United States and Europe. He is also on the faculty at the Illinois Institute of Technology, and holds a commodity options membership at the Chicago Board of Trade (CBOT). A successful options trader for more than 20 years, Bittman also wrote the best-selling Options for the Stock Investor.
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Table of Contents

Foreword
Acknowledgments
Disclosures
Introduction
Pt. 1 The Basics of Futures and Options 1
Ch. 1 The Terminology of Futures and Options 3
Ch. 2 Diagrams of Basic Trading Strategies 20
Ch. 3 Diagrams of Basic Hedging Strategies 51
Ch. 4 Why Futures and Options Have Value 70
Ch. 5 Option Price Behavior 81
Ch. 6 Volatility 96
Ch. 7 Option Price Behavior II: The Greeks 117
Pt. 2 Hedging Strategies 143
Ch. 8 Strategies for Long Hedgers 145
Ch. 9 Strategies for Short Hedgers 171
Ch. 10 Advanced Hedging Strategies 195
Pt. 3 Trading Strategies 223
Ch. 11 Pricing and Graphing Strategies with OP-EVALF 225
Ch. 12 Buying Options 244
Ch. 13 Selling Options 265
Ch. 14 Vertical Spreads 283
Ch. 15 Straddles and Strangles 303
Ch. 16 Ratio Spreads 320
Ch. 17 Conclusion 334
Index 341
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