Introduction to Derivatives: Options, Futures, and Swaps [Hardcover]

Since the 1970s, the U.S. economy has experienced relatively sharp swings in stock prices, interest rates, and exchange rates, which has increased the exposure of many debt, equity, and currency positions to market risk. Faced with this risk, many institutional investors have increased their use of futures, option contracts, and other derivative securities.Introduction to Derivatives: Options, Futures, and Swapsprovides a thorough explanation of derivatives from the basic concepts, strategies, and fundamentals to a more detailed understanding of the advanced strategies and pricing models.Including more than 300 end-of-chapter problems and web exercises at the end of most chapters,Derivativesis ideal for advanced undergraduate, MBA, and MS courses in finance, and serves as an excellent reference for professionals in equity and debt management.List of ExhibitsList of FiguresList of TablesPrefacePART I: OPTION STRATEGIES AND MARKETS1: Option Concepts and Fundamental Strategies2: The Option Market3: Option StrategiesPART II: OPTION PRICING4: Fundamental Option Price Relations5: The Binomial Option Pricing Model6: The Binomial Pricing of Options on Dividend-Paying Stocks and Stock Indices7: The Binomial Pricing of Options on Currencies and Bonds8: The Black Scholes Option Pricing Model9: Applications of the Option Pricing Model, The Greeks, and Exotic OptionsPART III: FUTURES AND FUTURES OPTION CONTRACTS10: Futures and Forward Contracts11: Pricing Futures and Forward Contracts12: Options on Futures ContractsPART IV: MANAGING EQUITY, CURRENCY, AND DEBT POSITIONS WITH DERIVATIVES13: Managing Equity Positions with Stock Index Derivatives14: Managing Foreign Currency Positions with Derivatives15: Managing Fixed-Income Positions with Interest-Rate Derivatives16: Managing Fixed-Income Positions with OTC DerivativesPART IV: SWAPS17: Interest Rate Swaps18: Swapl3$