An Introduction to Derivatives and Risk Management
It has now been eleven years since the first edition of this book came out. Probably no area in finance has undergone as much change as that of derivatives and risk management. In fact, this book was once called An Introduction to Options and Futures. The previous edition was called An Introduction to Derivatives. Reflecting the continuing change in the industry, we are now calling it An Introduction to Derivatives and Risk Management. Who knows what the sixth edition will be called? (Any suggestions?) But looking on the bright side, a dynamic field makes for an exciting subject to study and one well worth exploring for its potential for career development.
This book is all about the study of financial instruments called derivatives. The types of derivatives you will learn about are options, forwards, futures, swaps and a number of variations of these basic instruments. Derivatives are powerful and effective tools for altering the risk of an organization or portfolio of securities. In this book you will learn the characteristics of these instruments, how they are priced, how they are used in strategies, and how to manage the risk they create as well as how to use them to manage already-existing risk.
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|Chapter 2||The Structure of Options Markets|
|Chapter 3||Principles of Option Pricing|
|Chapter 4||Option Pricing Models: The Binomial Model|
|Chapter 5||Option Pricing Models: The Black-Scholes Model|
|Chapter 6||Basic Option Strategies|
|Chapter 7||Advanced Option Strategies|
|PART II||Forwards and Futures|
|Chapter 8||The Structure of Forward and Futures Markets|
|Chapter 9||Principles of Forward and Futures Pricing|
|Chapter 10||Futures Hedging Strategies|
|Chapter 11||Advanced Futures Strategies|
|PART III||Advanced Topics|
|Chapter 12||Options on Futures|
|Chapter 13||Foreign Currency Derivatives|
|Chapter 14||Interest Rate Derivatives|
|Chapter 15||Advanced Derivatives and Strategies|
|Chapter 16||Financial Risk Management|
|Appendix A||List of Symbols|
|Appendix B||List of Formulas|