Crude oil hedging: benchmarking price protection strategies
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
London
Risk Books
1998
|
| Schriftenreihe: | Energy & power special reports
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | VIII, 106 S. graph. Darst. |
| ISBN: | 1899332316 |
Internformat
MARC
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Datensatz im Suchindex
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|---|---|
| adam_text | Contents
Executive summary v
! Preface viii
Introductory section 1
Hedging instruments 1
Purposes of hedging crude oil 2
Volatility reduction 3
Hedge gain maximization and other extensions of risk management 5
Speculation versus hedging 6
Hedgemasters 7
Portfolios 7
Five hedging strategies 13
Pure futures strategies 14
Always selling twelve months forward 14
Selectively selling three months forward 15
Pure options strategies 18
Using plain puts to obtain insurance 18
Using plain puts to lock in a budget price 20
Selling options 21
Options combination strategies 24
The bear spread 28
The straddle 30
The strangle 30
Collars 30
Hedging by condition: backwardized and contango markets 32
In-, out-of-, and near-the-money options 36
Layer upon layer 37
Exotic (Asian) options strategies 39
Insurance instruments 42
Three forces pushing for insurance company involvement 43
Sample insurance instruments 44
Blending risks with insurance programs 51
Conclusions: insurance versus derivatives 55
West Texas Intermediate (WTI) market depth, liquidity,
and hedging effectiveness 57
Market liquidity1 57
Concepts 58
Measurement 59
Market depth 60
Results 61
Conclusions 65
WTI and Brent: who leads and who lags? 65
Results 66
Conclusions 67
Correlations and hedging effectiveness 67
Risk management example 73
A crude hedging portfolio 74
Conclusions 77
Winners and losers 78
Energy consumers 79
The last word: does basis risk render all of this moot? 80
Notes and bibliography 81
Notes 81
Bibliography 81
Appendix: tables and charts summarizing the outcomes of
futures and options strategies under different market
conditions and expectations 83
|
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| discipline | Wirtschaftswissenschaften |
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| illustrated | Illustrated |
| indexdate | 2024-07-09T22:36:47Z |
| institution | BVB |
| isbn | 1899332316 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-020173702 |
| oclc_num | 611964620 |
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| physical | VIII, 106 S. graph. Darst. |
| publishDate | 1998 |
| publishDateSearch | 1998 |
| publishDateSort | 1998 |
| publisher | Risk Books |
| record_format | marc |
| series2 | Energy & power special reports |
| spelling | Krapels, Edward N. Verfasser aut Crude oil hedging benchmarking price protection strategies Edward N. Krapels and Michael Pratt London Risk Books 1998 VIII, 106 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Energy & power special reports Warentermingeschäft (DE-588)4064603-8 gnd rswk-swf Hedging (DE-588)4123357-8 gnd rswk-swf Rohöl (DE-588)4178355-4 gnd rswk-swf Rohöl (DE-588)4178355-4 s Warentermingeschäft (DE-588)4064603-8 s Hedging (DE-588)4123357-8 s DE-604 Pratt, Michael Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=020173702&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Krapels, Edward N. Pratt, Michael Crude oil hedging benchmarking price protection strategies Warentermingeschäft (DE-588)4064603-8 gnd Hedging (DE-588)4123357-8 gnd Rohöl (DE-588)4178355-4 gnd |
| subject_GND | (DE-588)4064603-8 (DE-588)4123357-8 (DE-588)4178355-4 |
| title | Crude oil hedging benchmarking price protection strategies |
| title_auth | Crude oil hedging benchmarking price protection strategies |
| title_exact_search | Crude oil hedging benchmarking price protection strategies |
| title_full | Crude oil hedging benchmarking price protection strategies Edward N. Krapels and Michael Pratt |
| title_fullStr | Crude oil hedging benchmarking price protection strategies Edward N. Krapels and Michael Pratt |
| title_full_unstemmed | Crude oil hedging benchmarking price protection strategies Edward N. Krapels and Michael Pratt |
| title_short | Crude oil hedging |
| title_sort | crude oil hedging benchmarking price protection strategies |
| title_sub | benchmarking price protection strategies |
| topic | Warentermingeschäft (DE-588)4064603-8 gnd Hedging (DE-588)4123357-8 gnd Rohöl (DE-588)4178355-4 gnd |
| topic_facet | Warentermingeschäft Hedging Rohöl |
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