About
Practitioners refer to it as “the bible;” in the university and college marketplace it’s the best seller; and now it’s been revised and updated to cover the industry’s hottest topics and the most up-to-date material on new regulations. Options, Futures, and Other Derivatives by John C. Hull bridges the gap between theory and practice by providing a current look at the industry, a careful balance of mathematical sophistication, and an outstanding ancillary package that makes it accessible to a wide audience. Through its coverage of important topics such as the securitization and the credit crisis, the overnight indexed swap, the Black-Scholes-Merton formulas, and the way commodity prices are modeled and commodity derivatives valued, it helps students and practitioners alike keep up with the fast pace of change in today’s derivatives markets.
For graduate courses in business, economics, financial mathematics, and financial engineering; for advanced undergraduate courses with students who have good quantitative skills; and for practitioners involved in derivatives markets
Features
NEW! Available DerivaGem 3.00 software—including to Excel applications, the Options Calculator and the Applications Builder, and a Monte Carlo simulation worksheet:
o The Options Calculator consists of easy-to-use software for valuing a wide range of options.
o The Applications Builder consists of a number of Excel functions from which users can build their own applications. It includes a number of sample applications and enables students to explore the properties of options and numerical procedures more easily. It also allows more interesting assignments to be designed.
o The new version of the software includes a worksheet to illustrate the use of Monte Carlo simulation for valuing options.
Bridges the gap between theory and practice—a best-selling college text, and considered “the bible” by practitioners, it provides the latest information in the industry, including:
· NEW! New material on:
o The industry’s use of the overnight indexed swap (OIS) rates to determine risk-free discount rates;
o The new regulations for over-the-counter derivatives;
o New non-technical explanation of the terms in the Black-Scholes-Merton formulas
o A new chapter early in the book discussing credit risk, discount rates, and funding costs
o Products such as DOOM options and CEBOs offered by CME Group
o Perpetual options and other perpetual derivatives
o Many new end-of-chapter problems
· Expanded, updated, or more complete information on:
o Central clearing, margin requirements, and swap execution facilities
o Credit risk and credit derivatives with the key products and key issues being introduced early in the book
o One-factor equilibrium models of the term structure.
Contents
1. Introduction
2. Mechanics of Futures Markets
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 Credit Crisis of 2007
9. OIS Discounting, Credit Issues, and Funding Costs
10. Mechanics of Options Markets
11. Properties of Stock Options
12. Trading Strategies Involving Options
13. Binomial Trees
14. Wiener Processes and Ito’s Lemma
15. The Black-Scholes-Merton Model
16. Employee Stock Options
17. Options on Stock Indices and Currencies
18. Options on Futures
19. Greek Letters
20. Volatility Smiles
21. Basic Numerical Procedures
22. Value at Risk
23. Estimating Volatilities and Correlations for Risk Management
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. Interest Rate Derivatives: Models of the Short Rate
32. HJM, LMM, and Multiple Zero Curves
33. Swaps Revisited
34. Energy and Commodity Derivatives
35. Real Options
36. Derivatives Mishaps and What We Can Learn from Them
Glossary of Terms
DerivaGem Software
Major Exchanges Trading Futures and Options
Table for N(x) when x≤ 0
Table for N(x) when x≥0
Author index
Subject index
Digital
Introducing Pearson Horizon! Pearson Horizon is an easy-to-use digital courseware solution combining interactive digital content, online homework and assessments, and the flexibility to customize your course.
- Deliver content digitally - Get all the benefits of our widely used content within an easy-to-use, personalized digital platform with customizable features.
- Optimize and personalize learning - Engage students with a blended learning approach merging digital content with complementary homework, tutorials, and assessments.
- Customize your course - Create a learning path with existing content, while developing original activities and uploading your own multimedia resources.
- Offer flexible study options - Give students instant access to mobile-friendly course content, whether they’re online or offline. Available with or without eBook.
What you will find in Horizon
- The most used selection of assignments multimedia from our Pearson products PowerPoints
- Flashcards
- Most critical assessments / MCQ from the TestBanks
- Full version of the ebook (optional) Interactive Chapter Opener Video Video case studies for each chapter
- PowerPoints in PPT format
- TestBank solutions
- Full version of the ebook
- Instructor's manual with chapter guides, questions for class discussions, and links to company examples
Watch Demo per discipline >
Options, Futures and Other Derivatives plus Pearson Horizon, Global Edition
Hull
ISBN9781292374581
Resources
Instructor Resources are available to aid your teaching and can be accessed below. Please request access to download the resources or log in with an existing account.
Having trouble getting access? Contact us.
Instructor's Resource Manual for Options, Futures, and Other Derivatives, Global Edition, 9/E
Hull
ISBN: 9781292212913
PowerPoint Slides for Options, Futures, and Other Derivatives, Global Edition, 9/E
Hull
ISBN: 9781292212937
Premium Companion Website for Options, Futures, and Other Derivatives, Global Edition, 9/E
Hull
ISBN: 9781292212906
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