Fundamentals of futures and options markets:
This new edition presents a reader-friendly textbook with lots of numerical examples and accounts of real-life situations.
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Upper Saddle River, N.J.
Prentice Hall
2008
|
| Ausgabe: | 6. ed. |
| Schlagworte: | |
| Online-Zugang: | Table of contents only Inhaltsverzeichnis |
| Zusammenfassung: | This new edition presents a reader-friendly textbook with lots of numerical examples and accounts of real-life situations. |
| Beschreibung: | Includes index. |
| Beschreibung: | XIII, 561 S. 1 CD-ROM (12 cm) |
| ISBN: | 9780132242264 0132242265 9780135127018 0135127017 |
Internformat
MARC
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| 250 | |a 6. ed. | ||
| 264 | 1 | |a Upper Saddle River, N.J. |b Prentice Hall |c 2008 | |
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| 520 | |a This new edition presents a reader-friendly textbook with lots of numerical examples and accounts of real-life situations. | ||
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Datensatz im Suchindex
| _version_ | 1804136724821966848 |
|---|---|
| adam_text | Contents
Preface xi
Chapter 1: Introduction 1
1.1 Futures Contracts 1
1.2 History of Futures Markets 2
1.3 The Over-the-Counter Market 4
1.4 Forward Contracts 5
1.5 Options Contracts 6
1.6 History of Options Markets 8
1.7 Types of Traders 9
1.8 Hedgers 9
1.9 Speculators 13
1.10 Arbitrageurs 15
1.11 Dangers 16
Summary 17
Further Reading 17
Quiz 18
Questions and Problems 18
Assignment Questions 19
Chapter 2: Mechanics of Futures Markets 21
2.1 Opening and Closing Futures Positions 21
2.2 The Specification of a Futures Contract 22
2.3 Convergence of Futures Price to Spot Price 25
2.4 The Operation of Margins 26
2.5 Newspaper Quotes 30
2.6 Delivery 33
2.7 Types of Traders and Types of Orders 34
2.8 Regulation 35
2.9 Accounting and Tax 36
2.10 Forward vs. Futures Contracts 39
Summary 41
Further Reading 41
Quiz 42
Questions and Problems 42
Assignment Questions 43
iii
iv Contents
Chapter 3: Hedging Strategies Using Futures 45
3.1 Basic Principles 45
3.2 Arguments for and against Hedging 48
3.3 Basis Risk 51
3.4 Cross Hedging 56
3.5 Stock Index Futures 60
3.6 Rolling the Hedge Forward 65
Summary 67
Further Reading 68
Quiz 69
Questions and Problems 69
Assignment Questions 70
Appendix: Proof of the Minimum Variance Hedge Ratio Formula 72
Chapter 4: Interest Rates 73
4.1 Types of Rates 73
4.2 Measuring Interest Rates 75
4.3 Zero Rates 77
4.4 Bond Pricing 78
4.5 Determining Treasury Zero Rates 80
4.6 Forward Rates 82
4.7 Forward Rate Agreements 84
4.8 Theories of the Term Structure of Interest Rates 87
Summary 89
Further Reading 90
Quiz 90
Questions and Problems 91
Assignment Questions 92
Appendix: Exponential and Logarithm Functions 94
Chapter 5: Determination of Forward and Futures Prices 97
5.1 Investment Assets vs. Consumption Assets 97
5.2 Short Selling 97
5.3 Assumptions and Notation 99
5.4 Forward Price for an Investment Asset 99
5.5 Known Income 102
5.6 Known Yield 105
5.7 Valuing Forward Contracts 105
5.8 Are Forward Prices and Futures Prices Equal? 107
5.9 Futures Prices of Stock Indices 108
5.10 Forward and Futures Contracts on Currencies 110
5.11 Futures on Commodities 113
5.12 The Cost of Carry 117
5.13 Delivery Options 117
5.14 Futures Prices and Expected Spot Prices 117
Summary 119
Further Reading 121
Quiz 121
Questions and Problems 121
Contents V
Assignment Questions 123
Appendix: Proof that Forward and Futures Prices Are Equal When Interest
Rates Are Constant 125
Chapter 6: Interest Rate Futures 127
6.1 Day Count and Quotation Conventions 127
6.2 Treasury Bond Futures 130
6.3 Eurodollar Futures 135
6.4 Duration 138
6.5 Duration-Based Hedging Strategies Using Futures 142
Summary 147
Further Reading 148
Quiz 148
Questions and Problems 148
Assignment Questions 150
Chapter 7: Swaps 153
7.1 Mechanics of Interest Rate Swaps 153
7.2 Day Count Issues 160
7.3 Confirmations 160
7.4 The Comparative-Advantage Argument 161
7.5 The Nature of Swap Rates 164
7.6 Determining LIBOR/Swap Zero Rates 165
7.7 Valuation of Interest Rate Swaps 166
7.8 Currency Swaps 170
7.9 Valuation of Currency Swaps 174
7.10 Credit Risk 175
7.11 Other Types of Swaps 178
Summary 180
Further Reading 181
Quiz 181
Questions and Problems 182
Assignment Questions 183
Chapter 8: Mechanics of Options Markets 185
8.1 Types of Options 185
8.2 Option Positions 188
8.3 Underlying Assets 190
8.4 Specification of Stock Options 191
8.5 Trading 195
8.6 Commissions 196
8.7 Margins 197
8.8 The Options Clearing Corporation 198
8.9 Regulation 199
8.10 Taxation 199
8.11 Warrants, Executive Stock Options, and Convertibles 201
8.12 Over-the-Counter Markets 203
Summary 203
Further Reading 204
vi Contents
Quiz 204
Questions and Problems 205
Assignment Questions 206
Chapter 9: Properties of Stock Options 209
9.1 Factors Affecting Option Prices 209
9.2 Assumptions and Notation 213
9.3 Upper and Lower Bounds for Option Prices 213
9.4 Put-Call Parity 217
9.5 Early Exercise: Calls on a Non-Dividend-Paying Stock 220
9.6 Early Exercise: Puts on a Non-Dividend-Paying Stock 222
9.7 Effect of Dividends 223
9.8 Summary 224
Further Reading 225
Quiz 225
Questions and Problems 226
Assignment Questions 227
Chapter 10: Trading Strategies Involving Options 229
10.1 Strategies Involving a Single Option and a Stock 229
10.2 Spreads 231
10.3 Combinations 240
10.4 Other Payoffs 243
10.5 Summary 243
Further Reading 244
Quiz 244
Questions and Problems 244
Assignment Questions 245
Chapter 11: Introduction to Binomial Trees 247
11.1 A One-Step Binomial Model 247
11.2 Risk-Neutral Valuation 250
11.3 Two-Step Binomial Trees 252
11.4 A Put Example 255
11.5 American Options 256
11.6 Delta 257
11.7 Determining u and d 258
11.8 Increasing the Number of Time Steps 259
11.9 Options on Other Assets 260
Summary 265
Further Reading 265
Quiz 265
Questions and Problems 266
Assignment Questions 267
Chapter 12: Valuing Stock Options: The Black-Scholes Model 269
12.1 Assumptions about How Stock Prices Evolve 269
12.2 Expected Return 272
12.3 Volatility 274
12.4 Estimating Volatility from Historical Data 274
Contents vii
12.5 Assumptions Underlying Black-Scholes 277
12.6 The Key No-Arbitrage Argument 278
12.7 The Black-Scholes Pricing Formulas 279
12.8 Risk-Neutral Valuation 281
12.9 Implied Volatilities 282
12.10 Dividends 283
12.11 Valuing Executive Stock Options 285
Summary 288
Further Reading 289
Quiz 290
Questions and Problems 290
Assignment Questions 292
Appendix: The Early Exercise of American Call Options on
Dividend-Paying Stocks 293
Chapter 13: Options on Stock Indices and Currencies 295
13.1 Options on Stock Indices 295
13.2 Currency Options 298
13.3 Options on Stocks Paying Known Dividend Yields 300
13.4 Valuation of Stock Index Options 303
13.5 Valuation of Currency Options 305
Summary 307
Further Reading 307
Quiz 308
Questions and Problems 308
Assignment Questions 309
Chapter 14: Futures Options 311
14.1 Nature of Futures Options 311
14.2 Reasons for the Popularity of Futures Options 313
14.3 European Spot and Futures Options 314
14.4 Put-Call Parity 314
14.5 Bounds for Futures Options 316
14.6 Valuation of Futures Options Using Binomial Trees 316
14.7 A Futures Price as an Asset Providing a Yield 318
14.8 Black s Model for Valuing Futures Options 319
14.9 American Futures Options vs. American Spot Options 320
Summary 321
Further Reading 321
Quiz 322
Questions and Problems 322
Assignment Questions 323
Chapter 15: The Greek Letters 325
15.1 Illustration 325
15.2 Naked and Covered Positions 326
15.3 A Stop-Loss Strategy 326
15.4 Delta Hedging 328
15.5 Theta 335
viii Contents
15.6 Gamma 337
15.7 Relationship between Delta, Theta, and Gamma 340
15.8 Vega 341
15.9 Rho 343
15.10 The Realities of Hedging 344
15.11 Scenario Analysis 344
15.12 Extension of Formulas 346
15.13 Creating Options Synthetically for Portfolio Insurance 348
15.14 Stock Market Volatility 350
Summary 351
Further Reading 352
Quiz 352
Questions and Problems 353
Assignment Questions 355
Chapter 16: Binomial Trees in Practice 357
16.1 The Binomial Model for a Non-Dividend-Paying Stock 357
16.2 Using the Binomial Tree for Options on Indices, Currencies, and Futures
Contracts 364
16.3 The Binomial Model for a Dividend-Paying Stock 367
16.4 Extensions of the Basic Tree Approach 369
16.5 Alternative Procedure for Constructing Trees 371
16.6 Monte Carlo Simulation 374
Summary 375
Further Reading 376
Quiz 376
Questions and Problems 376
Assignment Questions 377
Chapter 17: Volatility Smiles 379
17.1 Foreign Currency Options 379
17.2 Equity Options 382
17.3 The Volatility Term Structure and Volatility Surfaces 384
17.4 When a Single Large Jump Is Anticipated 386
Summary 387
Further Reading 388
Quiz 389
Questions and Problems 389
Assignment Questions 390
Appendix: Why the Put Volatility Smile Is the Same As
the Call Volatility Smile 392
Chapter 18: Value at Risk 395
18.1 The VaR Measure 395
18.2 Historical Simulation 398
18.3 Model-Building Approach 399
18.4 Linear Model 403
18.5 Quadratic Model 405
18.6 Estimating Volatilities and Correlations 408
Contents ix
18.7 Comparison of Approaches 412
18.8 Stress Testing and Back Testing 413
Summary 413
Further Reading 414
Quiz 415
Questions and Problems 415
Assignment Questions 417
Appendix: Cash-Flow Mapping 419
Chapter 19: Interest Rate Options 421
19.1 Exchange-Traded Interest Rate Options 421
19.2 Embedded Bond Options 423
19.3 Black s Model 423
19.4 European Bond Options 425
19.5 Interest Rate Caps 427
19.6 European Swap Options 433
19.7 Term Structure Models 436
Summary 437
Further Reading 438
Quiz 438
Questions and Problems 439
Assignment Questions 440
Chapter 20: Exotic Options and Other Nonstandard Products 443
20.1 Exotic Options 443
20.2 Mortgage-Backed Securities 448
20.3 Nonstandard Swaps 450
Summary 456
Further Reading 457
Quiz 458
Questions and Problems 458
Assignment Questions 459
Chapter 21: Credit Derivatives 461
21.1 Credit Default Swaps 461
21.2 Credit Indices 464
21.3 Determining CDS Spreads 465
21.4 Total Return Swaps 470
21.5 CDS Forwards and Options 471
21.6 Collateralized Debt Obligations 471
Summary 474
Further Reading 474
Quiz 475
Questions and Problems 475
Assignment Questions 476
Chapter 22: Weather, Energy, and Insurance Derivatives 477
22.1 Weather Derivatives 477
22.2 Energy Derivatives 478
22.3 Insurance Derivatives 481
X Contents
Summary 482
Further Reading 483
Quiz 483
Questions and Problems 484
Assignment Question 484
Chapter 23: Derivatives Mishaps and What We Can Learn from Them 485
23.1 Lessons for All Users of Derivatives 485
23.2 Lessons for Financial Institutions 489
23.3 Lessons for Nonfinancial Corporations 493
Summary 494
Further Reading 494
Answers to Quiz Questions 497
Chapter 1 497
Chapter 2 498
Chapter 3 498
Chapter 4 499
Chapter 5 501
Chapter 6 501
Chapter 7 502
Chapter 8 504
Chapter 9 506
Chapter 10 506
Chapter 11 507
Chapter 12 509
Chapter 13 510
Chapter 14 512
Chapter 15 512
Chapter 16 513
Chapter 17 515
Chapter 18 515
Chapter 19 517
Chapter 20 517
Chapter 21 518
Chapter 22 519
Glossary of Terms 521
DerivaGem Software 537
The Options Calculator 537
The Applications Builder 540
Major Exchanges Trading Futures and Options 543
Table for N(x) When x 0 544
Table for N(x) When x 0 545
Index 547
|
| adam_txt |
Contents
Preface xi
Chapter 1: Introduction 1
1.1 Futures Contracts 1
1.2 History of Futures Markets 2
1.3 The Over-the-Counter Market 4
1.4 Forward Contracts 5
1.5 Options Contracts 6
1.6 History of Options Markets 8
1.7 Types of Traders 9
1.8 Hedgers 9
1.9 Speculators 13
1.10 Arbitrageurs 15
1.11 Dangers 16
Summary 17
Further Reading 17
Quiz 18
Questions and Problems 18
Assignment Questions 19
Chapter 2: Mechanics of Futures Markets 21
2.1 Opening and Closing Futures Positions 21
2.2 The Specification of a Futures Contract 22
2.3 Convergence of Futures Price to Spot Price 25
2.4 The Operation of Margins 26
2.5 Newspaper Quotes 30
2.6 Delivery 33
2.7 Types of Traders and Types of Orders 34
2.8 Regulation 35
2.9 Accounting and Tax 36
2.10 Forward vs. Futures Contracts 39
Summary 41
Further Reading 41
Quiz 42
Questions and Problems 42
Assignment Questions 43
iii
iv Contents
Chapter 3: Hedging Strategies Using Futures 45
3.1 Basic Principles 45
3.2 Arguments for and against Hedging 48
3.3 Basis Risk 51
3.4 Cross Hedging 56
3.5 Stock Index Futures 60
3.6 Rolling the Hedge Forward 65
Summary 67
Further Reading 68
Quiz 69
Questions and Problems 69
Assignment Questions 70
Appendix: Proof of the Minimum Variance Hedge Ratio Formula 72
Chapter 4: Interest Rates 73
4.1 Types of Rates 73
4.2 Measuring Interest Rates 75
4.3 Zero Rates 77
4.4 Bond Pricing 78
4.5 Determining Treasury Zero Rates 80
4.6 Forward Rates 82
4.7 Forward Rate Agreements 84
4.8 Theories of the Term Structure of Interest Rates 87
Summary 89
Further Reading 90
Quiz 90
Questions and Problems 91
Assignment Questions 92
Appendix: Exponential and Logarithm Functions 94
Chapter 5: Determination of Forward and Futures Prices 97
5.1 Investment Assets vs. Consumption Assets 97
5.2 Short Selling 97
5.3 Assumptions and Notation 99
5.4 Forward Price for an Investment Asset 99
5.5 Known Income 102
5.6 Known Yield 105
5.7 Valuing Forward Contracts 105
5.8 Are Forward Prices and Futures Prices Equal? 107
5.9 Futures Prices of Stock Indices 108
5.10 Forward and Futures Contracts on Currencies 110
5.11 Futures on Commodities 113
5.12 The Cost of Carry 117
5.13 Delivery Options 117
5.14 Futures Prices and Expected Spot Prices 117
Summary 119
Further Reading 121
Quiz 121
Questions and Problems 121
Contents V
Assignment Questions 123
Appendix: Proof that Forward and Futures Prices Are Equal When Interest
Rates Are Constant 125
Chapter 6: Interest Rate Futures 127
6.1 Day Count and Quotation Conventions 127
6.2 Treasury Bond Futures 130
6.3 Eurodollar Futures 135
6.4 Duration 138
6.5 Duration-Based Hedging Strategies Using Futures 142
Summary 147
Further Reading 148
Quiz 148
Questions and Problems 148
Assignment Questions 150
Chapter 7: Swaps 153
7.1 Mechanics of Interest Rate Swaps 153
7.2 Day Count Issues 160
7.3 Confirmations 160
7.4 The Comparative-Advantage Argument 161
7.5 The Nature of Swap Rates 164
7.6 Determining LIBOR/Swap Zero Rates 165
7.7 Valuation of Interest Rate Swaps 166
7.8 Currency Swaps 170
7.9 Valuation of Currency Swaps 174
7.10 Credit Risk 175
7.11 Other Types of Swaps 178
Summary 180
Further Reading 181
Quiz 181
Questions and Problems 182
Assignment Questions 183
Chapter 8: Mechanics of Options Markets 185
8.1 Types of Options 185
8.2 Option Positions 188
8.3 Underlying Assets 190
8.4 Specification of Stock Options 191
8.5 Trading 195
8.6 Commissions 196
8.7 Margins 197
8.8 The Options Clearing Corporation 198
8.9 Regulation 199
8.10 Taxation 199
8.11 Warrants, Executive Stock Options, and Convertibles 201
8.12 Over-the-Counter Markets 203
Summary 203
Further Reading 204
vi Contents
Quiz 204
Questions and Problems 205
Assignment Questions 206
Chapter 9: Properties of Stock Options 209
9.1 Factors Affecting Option Prices 209
9.2 Assumptions and Notation 213
9.3 Upper and Lower Bounds for Option Prices 213
9.4 Put-Call Parity 217
9.5 Early Exercise: Calls on a Non-Dividend-Paying Stock 220
9.6 Early Exercise: Puts on a Non-Dividend-Paying Stock 222
9.7 Effect of Dividends 223
9.8 Summary 224
Further Reading 225
Quiz 225
Questions and Problems 226
Assignment Questions 227
Chapter 10: Trading Strategies Involving Options 229
10.1 Strategies Involving a Single Option and a Stock 229
10.2 Spreads 231
10.3 Combinations 240
10.4 Other Payoffs 243
10.5 Summary 243
Further Reading 244
Quiz 244
Questions and Problems 244
Assignment Questions 245
Chapter 11: Introduction to Binomial Trees 247
11.1 A One-Step Binomial Model 247
11.2 Risk-Neutral Valuation 250
11.3 Two-Step Binomial Trees 252
11.4 A Put Example 255
11.5 American Options 256
11.6 Delta 257
11.7 Determining u and d 258
11.8 Increasing the Number of Time Steps 259
11.9 Options on Other Assets 260
Summary 265
Further Reading 265
Quiz 265
Questions and Problems 266
Assignment Questions 267
Chapter 12: Valuing Stock Options: The Black-Scholes Model 269
12.1 Assumptions about How Stock Prices Evolve 269
12.2 Expected Return 272
12.3 Volatility 274
12.4 Estimating Volatility from Historical Data 274
Contents vii
12.5 Assumptions Underlying Black-Scholes 277
12.6 The Key No-Arbitrage Argument 278
12.7 The Black-Scholes Pricing Formulas 279
12.8 Risk-Neutral Valuation 281
12.9 Implied Volatilities 282
12.10 Dividends 283
12.11 Valuing Executive Stock Options 285
Summary 288
Further Reading 289
Quiz 290
Questions and Problems 290
Assignment Questions 292
Appendix: The Early Exercise of American Call Options on
Dividend-Paying Stocks 293
Chapter 13: Options on Stock Indices and Currencies 295
13.1 Options on Stock Indices 295
13.2 Currency Options 298
13.3 Options on Stocks Paying Known Dividend Yields 300
13.4 Valuation of Stock Index Options 303
13.5 Valuation of Currency Options 305
Summary 307
Further Reading 307
Quiz 308
Questions and Problems 308
Assignment Questions 309
Chapter 14: Futures Options 311
14.1 Nature of Futures Options 311
14.2 Reasons for the Popularity of Futures Options 313
14.3 European Spot and Futures Options 314
14.4 Put-Call Parity 314
14.5 Bounds for Futures Options 316
14.6 Valuation of Futures Options Using Binomial Trees 316
14.7 A Futures Price as an Asset Providing a Yield 318
14.8 Black's Model for Valuing Futures Options 319
14.9 American Futures Options vs. American Spot Options 320
Summary 321
Further Reading 321
Quiz 322
Questions and Problems 322
Assignment Questions 323
Chapter 15: The Greek Letters 325
15.1 Illustration 325
15.2 Naked and Covered Positions 326
15.3 A Stop-Loss Strategy 326
15.4 Delta Hedging 328
15.5 Theta 335
viii Contents
15.6 Gamma 337
15.7 Relationship between Delta, Theta, and Gamma 340
15.8 Vega 341
15.9 Rho 343
15.10 The Realities of Hedging 344
15.11 Scenario Analysis 344
15.12 Extension of Formulas 346
15.13 Creating Options Synthetically for Portfolio Insurance 348
15.14 Stock Market Volatility 350
Summary 351
Further Reading 352
Quiz 352
Questions and Problems 353
Assignment Questions 355
Chapter 16: Binomial Trees in Practice 357
16.1 The Binomial Model for a Non-Dividend-Paying Stock 357
16.2 Using the Binomial Tree for Options on Indices, Currencies, and Futures
Contracts 364
16.3 The Binomial Model for a Dividend-Paying Stock 367
16.4 Extensions of the Basic Tree Approach 369
16.5 Alternative Procedure for Constructing Trees 371
16.6 Monte Carlo Simulation 374
Summary 375
Further Reading 376
Quiz 376
Questions and Problems 376
Assignment Questions 377
Chapter 17: Volatility Smiles 379
17.1 Foreign Currency Options 379
17.2 Equity Options 382
17.3 The Volatility Term Structure and Volatility Surfaces 384
17.4 When a Single Large Jump Is Anticipated 386
Summary 387
Further Reading 388
Quiz 389
Questions and Problems 389
Assignment Questions 390
Appendix: Why the Put Volatility Smile Is the Same As
the Call Volatility Smile 392
Chapter 18: Value at Risk 395
18.1 The VaR Measure 395
18.2 Historical Simulation 398
18.3 Model-Building Approach 399
18.4 Linear Model 403
18.5 Quadratic Model 405
18.6 Estimating Volatilities and Correlations 408
Contents ix
18.7 Comparison of Approaches 412
18.8 Stress Testing and Back Testing 413
Summary 413
Further Reading 414
Quiz 415
Questions and Problems 415
Assignment Questions 417
Appendix: Cash-Flow Mapping 419
Chapter 19: Interest Rate Options 421
19.1 Exchange-Traded Interest Rate Options 421
19.2 Embedded Bond Options 423
19.3 Black's Model 423
19.4 European Bond Options 425
19.5 Interest Rate Caps 427
19.6 European Swap Options 433
19.7 Term Structure Models 436
Summary 437
Further Reading 438
Quiz 438
Questions and Problems 439
Assignment Questions 440
Chapter 20: Exotic Options and Other Nonstandard Products 443
20.1 Exotic Options 443
20.2 Mortgage-Backed Securities 448
20.3 Nonstandard Swaps 450
Summary 456
Further Reading 457
Quiz 458
Questions and Problems 458
Assignment Questions 459
Chapter 21: Credit Derivatives 461
21.1 Credit Default Swaps 461
21.2 Credit Indices 464
21.3 Determining CDS Spreads 465
21.4 Total Return Swaps 470
21.5 CDS Forwards and Options 471
21.6 Collateralized Debt Obligations 471
Summary 474
Further Reading 474
Quiz 475
Questions and Problems 475
Assignment Questions 476
Chapter 22: Weather, Energy, and Insurance Derivatives 477
22.1 Weather Derivatives 477
22.2 Energy Derivatives 478
22.3 Insurance Derivatives 481
X Contents
Summary 482
Further Reading 483
Quiz 483
Questions and Problems 484
Assignment Question 484
Chapter 23: Derivatives Mishaps and What We Can Learn from Them 485
23.1 Lessons for All Users of Derivatives 485
23.2 Lessons for Financial Institutions 489
23.3 Lessons for Nonfinancial Corporations 493
Summary 494
Further Reading 494
Answers to Quiz Questions 497
Chapter 1 497
Chapter 2 498
Chapter 3 498
Chapter 4 499
Chapter 5 501
Chapter 6 501
Chapter 7 502
Chapter 8 504
Chapter 9 506
Chapter 10 506
Chapter 11 507
Chapter 12 509
Chapter 13 510
Chapter 14 512
Chapter 15 512
Chapter 16 513
Chapter 17 515
Chapter 18 515
Chapter 19 517
Chapter 20 517
Chapter 21 518
Chapter 22 519
Glossary of Terms 521
DerivaGem Software 537
The Options Calculator 537
The Applications Builder 540
Major Exchanges Trading Futures and Options 543
Table for N(x) When x 0 544
Table for N(x) When x 0 545
Index 547 |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Hull, John |
| author_facet | Hull, John |
| author_role | aut |
| author_sort | Hull, John |
| author_variant | j h jh |
| building | Verbundindex |
| bvnumber | BV022584766 |
| callnumber-first | H - Social Science |
| callnumber-label | HG6024 |
| callnumber-raw | HG6024.A3 |
| callnumber-search | HG6024.A3 |
| callnumber-sort | HG 46024 A3 |
| callnumber-subject | HG - Finance |
| classification_rvk | QK 660 |
| ctrlnum | (OCoLC)123390945 (DE-599)DNB 2007015098 |
| dewey-full | 332.64/52 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.64/52 |
| dewey-search | 332.64/52 |
| dewey-sort | 3332.64 252 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| edition | 6. ed. |
| format | Book |
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| genre_facet | Lehrbuch |
| id | DE-604.BV022584766 |
| illustrated | Not Illustrated |
| index_date | 2024-07-02T18:16:19Z |
| indexdate | 2024-07-09T21:00:57Z |
| institution | BVB |
| isbn | 9780132242264 0132242265 9780135127018 0135127017 |
| language | English |
| lccn | 2007015098 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015790967 |
| oclc_num | 123390945 |
| open_access_boolean | |
| owner | DE-92 DE-739 DE-703 DE-945 DE-1051 DE-384 DE-11 |
| owner_facet | DE-92 DE-739 DE-703 DE-945 DE-1051 DE-384 DE-11 |
| physical | XIII, 561 S. 1 CD-ROM (12 cm) |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | Prentice Hall |
| record_format | marc |
| spelling | Hull, John Verfasser aut Fundamentals of futures and options markets John C. Hull 6. ed. Upper Saddle River, N.J. Prentice Hall 2008 XIII, 561 S. 1 CD-ROM (12 cm) txt rdacontent n rdamedia nc rdacarrier Includes index. This new edition presents a reader-friendly textbook with lots of numerical examples and accounts of real-life situations. Futures gtt Optiehandel gtt Termijnhandel gtt Futures market Options (Finance) Futures market Problems, exercises, etc Options (Finance) Problems, exercises, etc Termingeschäft (DE-588)4117190-1 gnd rswk-swf Optionsgeschäft (DE-588)4043670-6 gnd rswk-swf Optionshandel (DE-588)4126185-9 gnd rswk-swf Optionsmarkt (DE-588)4381644-7 gnd rswk-swf Financial Futures (DE-588)4128564-5 gnd rswk-swf Option (DE-588)4115452-6 gnd rswk-swf Terminmarkt (DE-588)4184759-3 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Financial Futures (DE-588)4128564-5 s Optionsgeschäft (DE-588)4043670-6 s Termingeschäft (DE-588)4117190-1 s 1\p DE-604 Optionsmarkt (DE-588)4381644-7 s Terminmarkt (DE-588)4184759-3 s 2\p DE-604 3\p DE-604 Option (DE-588)4115452-6 s 4\p DE-604 5\p DE-604 Optionshandel (DE-588)4126185-9 s 6\p DE-604 http://www.loc.gov/catdir/toc/ecip0716/2007015098.html Table of contents only HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015790967&sequence=000006&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 3\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 4\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 5\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 6\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Hull, John Fundamentals of futures and options markets Futures gtt Optiehandel gtt Termijnhandel gtt Futures market Options (Finance) Futures market Problems, exercises, etc Options (Finance) Problems, exercises, etc Termingeschäft (DE-588)4117190-1 gnd Optionsgeschäft (DE-588)4043670-6 gnd Optionshandel (DE-588)4126185-9 gnd Optionsmarkt (DE-588)4381644-7 gnd Financial Futures (DE-588)4128564-5 gnd Option (DE-588)4115452-6 gnd Terminmarkt (DE-588)4184759-3 gnd |
| subject_GND | (DE-588)4117190-1 (DE-588)4043670-6 (DE-588)4126185-9 (DE-588)4381644-7 (DE-588)4128564-5 (DE-588)4115452-6 (DE-588)4184759-3 (DE-588)4123623-3 |
| title | Fundamentals of futures and options markets |
| title_auth | Fundamentals of futures and options markets |
| title_exact_search | Fundamentals of futures and options markets |
| title_exact_search_txtP | Fundamentals of futures and options markets |
| title_full | Fundamentals of futures and options markets John C. Hull |
| title_fullStr | Fundamentals of futures and options markets John C. Hull |
| title_full_unstemmed | Fundamentals of futures and options markets John C. Hull |
| title_short | Fundamentals of futures and options markets |
| title_sort | fundamentals of futures and options markets |
| topic | Futures gtt Optiehandel gtt Termijnhandel gtt Futures market Options (Finance) Futures market Problems, exercises, etc Options (Finance) Problems, exercises, etc Termingeschäft (DE-588)4117190-1 gnd Optionsgeschäft (DE-588)4043670-6 gnd Optionshandel (DE-588)4126185-9 gnd Optionsmarkt (DE-588)4381644-7 gnd Financial Futures (DE-588)4128564-5 gnd Option (DE-588)4115452-6 gnd Terminmarkt (DE-588)4184759-3 gnd |
| topic_facet | Futures Optiehandel Termijnhandel Futures market Options (Finance) Futures market Problems, exercises, etc Options (Finance) Problems, exercises, etc Termingeschäft Optionsgeschäft Optionshandel Optionsmarkt Financial Futures Option Terminmarkt Lehrbuch |
| url | http://www.loc.gov/catdir/toc/ecip0716/2007015098.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015790967&sequence=000006&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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