Options, Futures, and Other Derivatives

Learn about derivatives from the book that is a "must have"for derivatives practitioners as well as the best seller in university and college markets. The many new features of the eighth edition include: • A new chapter on "Securitization and the Credit Crisis of 2007" • Discussions of central clearing, liquidity risk, and the use of overnight indexed swaps • More material on energy and other commodity derivatives • An alternative derivation of the Black-Scholes-Merton formula from binomial trees • An appendix explaining the capital asset pricing model • Use of an example involving real data to explain value at risk calculations • New material on principal protected notes, gap options, cliquet options, jump processes, and applications of the Vasicek and CIR interest rate models