Published by Pearson (July 5, 2021) © 2021

John Hull
    VitalSource eTextbook (12 months access)
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    ISBN-13: 9781292410623R365

    Options, Futures, and Other Derivatives, Global Edition ,11th edition

    Language: English

    Build essential foundations around the derivatives market for your future career in finance with the definitive guide on the subject.

    Options, Futures, and Other Derivatives, Global Edition, 11th edition by John Hull, is the industry-leading, gold standard text for business and economics professionals.

    Ideal for students studying Business, Economics, and Financial Engineering and Mathematics, this edition gives you a modern look at the derivatives market by incorporating the industry's hottest topics, such as securitisation and credit crisis, bridging the gap between theory and practice.

    Written with the knowledge of how Maths can be a key challenge for this course, the text adopts a simple language that makes learning approachable, providing a clear explanation of ideas throughout the text.

    The latest edition covers the most recent regulations and trends, including the Black-Scholes-Merton formulas, overnight indexed swaps, and the valuation of commodity derivatives.

    Key features include:

    • Tables, charts, examples, and market data discussions, reflecting current market conditions.
    • A delicate balance between theory and practice with the use of mathematics, adding numerical examples for added clarity.
    • Useful practice-focused resources to help students overcome learning obstacles.
    • End-of-chapter problems reflecting contemporary key ideas to support your understanding of the topics based on the new reference rates.

    Whether you need an introductory guide to derivatives to support your existing knowledge in algebra and probability distributions, or useful study content to advance your understanding of stochastic processes, this must-have textbook will support your learning and understanding from theory to practice.

    List of Business Snapshots

    List of Technical Notes

    Preface

    1. Introduction
    2. Futures markets and central counterparties
    3. Hedging strategies using futures
    4. Interest rates
    5. Determination of forward and futures prices
    6. Interest rate futures
    7. Swaps
    8. Securitization and the financial crisis of 2007-8
    9. XVAs
    10. Mechanics of options markets
    11. Properties of stock options
    12. Trading strategies involving options
    13. Binomial trees
    14. Wiener processes and Itô's lemma
    15. The Black–Scholes–Merton model
    16. Employee stock options
    17. Options on stock indices and currencies
    18. Futures options and Black's model
    19. The Greek letters
    20. Volatility smiles and Volatility Surfaces
    21. Basic numerical procedures
    22. Value at risk and expected shortfall
    23. Estimating volatilities and correlations
    24. Credit risk
    25. Credit derivatives
    26. Exotic options
    27. More on models and numerical procedures
    28. Martingales and measures
    29. Interest rate derivatives: The standard market models
    30. Convexity, timing, and quanto adjustments
    31. Equilibrium models of the short rate
    32. No-arbitrage models of the short rate
    33. Modeling Forward Rates
    34. Swaps Revisited
    35. Energy and commodity derivatives
    36. Real options
    37. Derivatives mishaps and what we can learn from them

    Glossary of terms

    DerivaGem software

    Major exchanges trading futures and options

    Tables for Nx

    Author Index

    Subject Index