Derivative securities and markets have experienced tremendous worldwide growth since 1970. But even so, they are not always well understood.
To remedy this situation, the authors explain the link between options and futures and the underlying security or index from which they ultimately derive their value. Pricing and hedging relationships of futures contracts, option characteristics and strategies, and option pricing and hedging relationships are also addressed.
To further assist the reader, the authors include exercises to reinforce the concepts as well as a glossary. The result is an updated look at options and futures that can benefit many of us.
Authors
Roger G. Clarke is chairman of Analytic Investors and also serves as president of a not-for-profit investment organization.
Harindra de Silva, CFA, is a portfolio manager at and president of Analytic Investors.
Steven Thorley, CFA, is the H. Taylor Peery Professor at the Marriott School of Management, Brigham Young University, and is a consultant for Analytic Investors.
Book recommended by Tristan Van Iersel
Free Pdf from CFA Institute
