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Derivatives Markets and Analysis (Bloomberg Financial)

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en Limba Engleză Carte Hardback – 14 Nov 2017
A practical, informative guide to derivatives in the real world Derivatives is an exposition on investments, guiding you from the basic concepts, strategies, and fundamentals to a more detailed understanding of the advanced strategies and models. As part of Bloomberg Financial′s three part series on securities, Derivatives focuses on derivative securities and the functionality of the Bloomberg system with regards to derivatives. You′ll develop a tighter grasp of the more subtle complexities involved in the evaluation, selection, and management of derivatives, and gain the practical skillset necessary to apply your knowledge to real–world investment situations using the tools and techniques that dominate the industry. Instructions for using the widespread Bloomberg system are interwoven throughout, allowing you to directly apply the techniques and processes discussed using your own data. You′ll learn the many analytical functions used to evaluate derivatives, and how these functions are applied within the context of each investment topic covered. All Bloomberg information appears in specified boxes embedded throughout the text, making it easy for you to find it quickly when you need or, or easily skip it in favor of the theory–based text.
Managing securities in today′s dynamic and innovative investment environment requires a strong understanding of how the increasing variety of securities, markets, strategies, and methodologies are used. This book gives you a more thorough understanding, and a practical skillset that investment managers need.
  • Understand derivatives strategies and models from basic to advanced
  • Apply Bloomberg information and analytical functions
  • Learn how investment decisions are made in the real world
  • Grasp the complexities of securities evaluation, selection, and management
The financial and academic developments of the past twenty years have highlighted the challenge in acquiring a comprehensive understanding of investments and financial markets. Derivatives provides the detailed explanations you′ve been seeking, and the hands–on training the real world demands.
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Specificații

ISBN-13: 9781118202692
ISBN-10: 1118202694
Pagini: 784
Dimensiuni: 340 x 267 x 57 mm
Greutate: 1.54 kg
Editura: Wiley
Seria Bloomberg Financial

Locul publicării: Hoboken, United States

Public țintă

Finance practioners, investment bankers, academics.


Textul de pe ultima copertă

THE PRACTICAL ROAD MAP FROM THEORY TO PRACTICE ON THE BLOOMBERG TERMINAL
Derivatives Markets and Analysis is the comprehensive, A–to–Z guidebook to derivative securities and markets specifically designed to enhance your performance "on the Street." Step–by–step it takes you through market fundamentals, futures and forward contracts, options markets, the pricing of options, and financial swaps. Along the way, it details all the major theories and models used today at state–of–the–art trading desks, complete with exercises and problem–solving exercises tailor fit to execute on your Bloomberg terminal. This dependable reference stays with you while you:
  • Get up to speed on the latest advances in derivatives strategies and models, as well as the real–world complexities of derivative evaluation, selection, and management
  • Develop a firm grasp on the investment decisions and technical nuances required to trade today′s derivatives markets and profit
  • Get the most out of Bloomberg information and analytic functions during your daily routine
Derivatives Markets and Analysis is your turnkey solution to bring theory to the terminal in the most efficient and profitable way.

Cuprins

Preface
Acknowledgments
About the Author
Part I: Futures and Forward Contracts
Chapter 1: Futures Markets
The Nature of Futures Trading and the Role of the Clearinghouse
Types of Futures Contracts
The Organized Markets and Characteristics of Futures Trading
Commodity Futures Hedging
Commodity Speculating with Futures
Pricing Futures and Forward Contracts: Carrying–Cost Model
Conclusion
Bloomberg: Commodity Futures and Related Screens
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 2: Currency Futures and Forward Contracts
Hedging with Foreign Currency Futures and Forward Contracts
Speculating with Foreign Currency Futures and Forward Contracts
Hedging and Speculating with Equivalent Money Market Positions
Carrying–Cost Model for a Currency
Conclusion
Bloomberg: Currency Futures and Related Screens
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 3: Equity Index Futures 
Speculative Strategies
Hedging Equity Positions
Carrying–Cost Model for an Equity Index
Non–Equity Indexes
Conclusion
Bloomberg: Equity Index Futures and Related Screens
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 4: Interest Rate and Bond Futures and Forward Contracts
Speculating with Interest Rate and Bond Futures Contracts
Hedging with Interest Rate and Bond Futures Contracts
Pricing Interest Rate and Bond Futures
Conclusion
Selected References
Problems and Questions
Bloomberg Exercises
Bloomberg: Bond and Interest Rate Futures and Related Screens
Appendix 4A: T–Bond and T–Note Delivery Procedures
Part II: Options Markets and Strategies
Chapter 5: Fundamentals of Options Trading
Option Terminology
Fundamental Option Strategies
Other Option Strategies
Option Price Relations
Put–Call Parity
Option Exchanges
Conclusion
Bloomberg: Options Screens
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 6: Non–Stock Options: Equity Index, Futures, OTC, and Embedded Options
Equity–Index Options
Futures Options
Over–the–Counter Options
Convertible Securities
Embedded Options
Conclusion
Bloomberg: Options Screens 
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 7: Option Strategies
Call Purchase
Call Purchases in Conjunction with Other Positions
Naked Call Write
Covered Call Write
Ratio Call Write
Put Purchase
Naked Put Write
Covered Put Write
Ratio Put Write
Call Spreads
Put Spreads
Combinations
Condors
Simulated Stock Positions
Conclusion
Bloomberg: Option Scenario Analysis Screen—OSA
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 8: Option Hedging
Hedging Stock Portfolio Positions
Hedging Currency and Commodity Positions
Hedging Fixed–Income Positions with Options
Conclusion
Bloomberg Hedging Screens
Selected References
Problems and Questions
Bloomberg Exercises
Part III: Option Pricing
Chapter 9: Option Boundary Conditions and Fundamental Price Relations
Call Boundary Conditions
Put Boundary Conditions
Put and Call Boundary Conditions
Boundary Conditions Governing Non–Stock Options
Conclusion
Bloomberg: Chart Screen, OMON, Call, and PUT
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 10: The Binomial Option Pricing Model
Single–Period BOPM
Multiple–Period BOPM
Estimating the BOPM
Features of the BOPM
Conclusion
Bloomberg: Screens for Applying the BOPM
Selected References
Problems and Questions
Bloomberg Exercises
Appendix 10A: Risk–Neutral Pricing
Appendix 10B: Discrete Dividend–Payment Approach
Chapter 11: The Black–Scholes Option Pricing Model
The Black–Scholes Call Model
The Black–Scholes Put Model
Estimating the B–S OPM
Applications of the OPM
Empirical Studies
Conclusion
Bloomberg Option Valuation Screen, OVME
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 12: Pricing Non–Stock Options and Futures Options
Pricing of Spot Index and Currency Options
Binomial Pricing of Futures Options
Pricing Equity Convertibles with the B–S OPM
Greeks
Conclusion
Bloomberg Option Valuation Screens for Indexes and Futures Options, OVME
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 13: Pricing Bond and Interest Rate Options
The Binomial Interest Rate Model
Estimating the Binomial Interest Rate Tree
Pricing Bond and Interest Rate Options with the B–S and Black OPMs
Conclusion
Bloomberg Option Valuation Screens for Bond and Interest Rate Options, OVME
Selected References
Problems and Questions
Bloomberg Exercises
Part IV: Financial Swaps
Chapter 14: Interest Rate Swaps
Generic Interest Rate Swaps
Swap Market
Swap Valuation
Comparative Advantage
Swap Applications
Forward Swaps
Swaptions
Non–Generic Swaps
Conclusion
Bloomberg Screens for Swaps
Appendix 14A: Valuation of Forward Swaps and Swaptions
Selected References
Problems and Questions
Bloomberg Exercises
Chapter 15: Credit Default and Currency Swaps
Generic Credit Default Swap
Currency Swaps
Conclusion
Bloomberg CDS and Currency Swap Screens
Selected References
Problems and Questions
Bloomberg Exercises
Supplemental Appendices
Appendix A: Overview and Guide to the Bloomberg System
Bloomberg System—Bloomberg Keyboard
The Bloomberg keyboard allows one to access information within the “Bloomberg
Accessing Security Information
Indexes
Economic, Industry, Law, and Municipal Information Screens
Monitor and Portal Screens
Portfolios and Baskets
Screening and Search Functions
The Bloomberg Excel Add–In: Importing Bloomberg into Excel
Launchpad
Bloomberg Exercises
Appendix B: Directory Listing of Bloomberg Screens by Menu and Function
Appendix C: Uses of Exponents and Logarithms
Exponential Functions
Logarithms
Rules of Logarithms
Uses of Logarithm
Index

Notă biografică

R. STAFFORD JOHNSON is director for the Smith Center at Xavier University. He is also a professor of finance at the university′s Williams College of Business. He is the author of five monographs and six books, including Options and Futures; Introduction to Derivatives; Bond Evaluation, Selection, and Management, Second Edition; Debt Markets and Analysis; and Equity Markets and Portfolio Analysis. He has authored or co–authored over 50 academic journal articles.