{"product_id":"elementary-financial-derivatives-isbn-9781119076759","title":"Elementary Financial Derivatives","description":"\u003cp\u003e\u003cb\u003eA step-by-step approach to the mathematical financial theory and quantitative methods needed to implement and apply state-of-the-art valuation techniques\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWritten as an accessible and appealing introduction to financial derivatives, \u003ci\u003eElementary Financial Derivatives: A Guide to Trading and Valuation with Application\u003c\/i\u003es provides the necessary techniques for teaching and learning complex valuation techniques. Filling the current gap in financial engineering literature, the book emphasizes an easy-to-understand approach to the methods and applications of complex concepts without focusing on the underlying statistical and mathematical theories.\u003c\/p\u003e \u003cp\u003eOrganized into three comprehensive sections, the book discusses the essential topics of the derivatives market with sections on options, swaps, and financial engineering concepts applied primarily, but not exclusively, to the futures market. Providing a better understanding of how to assess risk exposure, the book also includes:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eA wide range of real-world applications and examples detailing the theoretical concepts discussed throughout\u003c\/li\u003e \u003cli\u003eNumerous homework problems, highlighted equations, and Microsoft\u003csup\u003e®\u003c\/sup\u003e Office Excel\u003csup\u003e®\u003c\/sup\u003e modules for valuation\u003c\/li\u003e \u003cli\u003ePedagogical elements such as solved case studies, select answers to problems, and key terms and concepts to aid comprehension of the presented material\u003c\/li\u003e \u003cli\u003eA companion website that contains an Instructor’s Solutions Manual, sample lecture PowerPoint\u003csup\u003e®\u003c\/sup\u003e slides, and related Excel files and data sets\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eElementary Financial Derivatives: A Guide to Trading and Valuation with Applications \u003c\/i\u003eis an excellent introductory textbook for upper-undergraduate courses in financial derivatives, quantitative finance, mathematical finance, and financial engineering. The book is also a valuable resource for practitioners in quantitative finance, industry professionals who lack technical knowledge of pricing options, and readers preparing for the CFA exam.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJana Sacks, PhD, \u003c\/b\u003eis Associate Professor in the Department of Accounting and Finance at St. John Fisher College in Rochester, New York. A member of The American Finance Association, the National Association of Corporate Directors, and the International Atlantic Economic Society, Dr. Sack’s research interests include risk management, credit derivatives, pricing, hedging, and structured finance.\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003eTable of Figures xv\u003c\/p\u003e \u003cp\u003eAbout the Companion Websites xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 DERIVATIVE INSTRUMENTS: CONCEPTS AND DEFINITIONS 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 Key Derivative Instruments Definitions, 1\u003c\/p\u003e \u003cp\u003e1.2 The Role, Risks, and Benefits of Derivatives Markets, 2\u003c\/p\u003e \u003cp\u003e1.3 Arbitrage, 4\u003c\/p\u003e \u003cp\u003eCase Study 1.3-1, 4\u003c\/p\u003e \u003cp\u003eProblems, 5\u003c\/p\u003e \u003cp\u003e1.4 Miscellaneous, 5\u003c\/p\u003e \u003cp\u003eProblems, 7\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 FORWARDS AND FUTURES 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Futures Fundamentals, 9\u003c\/p\u003e \u003cp\u003e2.1.1 Futures Margin Account and Marking to Market, 17\u003c\/p\u003e \u003cp\u003eCase Study 2.1.1-1, 19\u003c\/p\u003e \u003cp\u003eProblems, 21\u003c\/p\u003e \u003cp\u003e2.1.2 Futures Hedging, 21\u003c\/p\u003e \u003cp\u003eCase Study 2.1.2-1, 23\u003c\/p\u003e \u003cp\u003eProblems, 26\u003c\/p\u003e \u003cp\u003e2.2 Forward Rate Agreements, 27\u003c\/p\u003e \u003cp\u003eCase Study 2.2-1, 27\u003c\/p\u003e \u003cp\u003eCase Study 2.2-2, 29\u003c\/p\u003e \u003cp\u003eCase Study 2.2-3, 34\u003c\/p\u003e \u003cp\u003eCase Study 2.2-4, 37\u003c\/p\u003e \u003cp\u003eProblems, 38\u003c\/p\u003e \u003cp\u003e2.3 Currency Forwards, 40\u003c\/p\u003e \u003cp\u003eCase Study 2.3-1, 41\u003c\/p\u003e \u003cp\u003eCase Study 2.3-2, 47\u003c\/p\u003e \u003cp\u003eProblems, 53\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 SWAPS 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 Swaps Fundamentals, 55\u003c\/p\u003e \u003cp\u003e3.1.1 Interest Rate Swap, 57\u003c\/p\u003e \u003cp\u003eCase Study 3.1.1-1, 58\u003c\/p\u003e \u003cp\u003eCase study 3.1.1-2, 65\u003c\/p\u003e \u003cp\u003eCase Study 3.1.1-3, 68\u003c\/p\u003e \u003cp\u003eProblems, 69\u003c\/p\u003e \u003cp\u003e3.2 Equity, Currency, and FX Swaps, 69\u003c\/p\u003e \u003cp\u003e3.2.1 Equity Swaps, 69\u003c\/p\u003e \u003cp\u003eCase Study 3.2.1-1, 72\u003c\/p\u003e \u003cp\u003eCase Study 3.2.1-2, 74\u003c\/p\u003e \u003cp\u003eCase Study 3.2.1-3, 75\u003c\/p\u003e \u003cp\u003eCase Study 3.2.1-4, 77\u003c\/p\u003e \u003cp\u003eCase Study 3.2.1-5, 77\u003c\/p\u003e \u003cp\u003eProblems, 78\u003c\/p\u003e \u003cp\u003e3.2.2 Currency\/FX Swap, 80\u003c\/p\u003e \u003cp\u003eCase Study 3.2.2-1, 83\u003c\/p\u003e \u003cp\u003eCase Study 3.2.2-2, 86\u003c\/p\u003e \u003cp\u003eProblems, 89\u003c\/p\u003e \u003cp\u003e3.3 Other Yield Curve-Dependent Swaps, 89\u003c\/p\u003e \u003cp\u003e3.3.1 Basic Swap, 89\u003c\/p\u003e \u003cp\u003eCase Study 3.3.1-1, 91\u003c\/p\u003e \u003cp\u003eCase Study 3.3.1-2, 93\u003c\/p\u003e \u003cp\u003eProblems, 95\u003c\/p\u003e \u003cp\u003e3.3.2 Credit Default Swap, 96\u003c\/p\u003e \u003cp\u003eCase Study 3.3.2-1, 105\u003c\/p\u003e \u003cp\u003eProblems, 106\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 OPTIONS 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 Options Fundamentals, 107\u003c\/p\u003e \u003cp\u003e4.1.1 Basic Information, 107\u003c\/p\u003e \u003cp\u003e4.1.2 Options Trading Strategies, 115\u003c\/p\u003e \u003cp\u003eCase Study 4.1.2-1, 121\u003c\/p\u003e \u003cp\u003eCase Study 4.1.2-2, 123\u003c\/p\u003e \u003cp\u003eProblems, 124\u003c\/p\u003e \u003cp\u003e4.2 Pricing, 126\u003c\/p\u003e \u003cp\u003e4.2.1 Binomial Tree Option Pricing Model, 126\u003c\/p\u003e \u003cp\u003eCase Study 4.2.1-1, 131\u003c\/p\u003e \u003cp\u003eCase Study 4.2.1-2, 134\u003c\/p\u003e \u003cp\u003eProblems, 135\u003c\/p\u003e \u003cp\u003eCase Study 4.2.1-3, 141\u003c\/p\u003e \u003cp\u003eCase Study 4.2.1-4, 145\u003c\/p\u003e \u003cp\u003eCase Study 4.2.1-5, 149\u003c\/p\u003e \u003cp\u003eProblems, 151\u003c\/p\u003e \u003cp\u003e4.2.2 Black–Scholes Formula, 153\u003c\/p\u003e \u003cp\u003eCase Study 4.2.2-1, 156\u003c\/p\u003e \u003cp\u003eCase Study 4.2.2-2, 159\u003c\/p\u003e \u003cp\u003eCase Study 4.2.2-3, 160\u003c\/p\u003e \u003cp\u003eCase Study 4.2.2-4, 164\u003c\/p\u003e \u003cp\u003eProblems, 165\u003c\/p\u003e \u003cp\u003e4.3 Greeks, 166\u003c\/p\u003e \u003cp\u003e4.3.1 Delta, 166\u003c\/p\u003e \u003cp\u003eCase Study 4.3-1, 168\u003c\/p\u003e \u003cp\u003eCase Study 4.3-2, 169\u003c\/p\u003e \u003cp\u003e4.3.2 Gamma, 170\u003c\/p\u003e \u003cp\u003e4.3.3 Rho, 171\u003c\/p\u003e \u003cp\u003eCase Study 4.3-3, 172\u003c\/p\u003e \u003cp\u003e4.3.4 Vega, 173\u003c\/p\u003e \u003cp\u003eCase Study 4.3-4, 174\u003c\/p\u003e \u003cp\u003e4.3.5 Theta, 175\u003c\/p\u003e \u003cp\u003eCase Study 4.3-5, 176\u003c\/p\u003e \u003cp\u003eProblems, 177\u003c\/p\u003e \u003cp\u003e4.4 Volatility, 178\u003c\/p\u003e \u003cp\u003e4.4.1 Delta Hedging, 178\u003c\/p\u003e \u003cp\u003eCase Study 4.4.1-1, 180\u003c\/p\u003e \u003cp\u003e4.4.2 Greek Neutrality, 182\u003c\/p\u003e \u003cp\u003eCase Study 4.4.2-1, 182\u003c\/p\u003e \u003cp\u003eCase Study 4.4.2-2, 184\u003c\/p\u003e \u003cp\u003eCase Study 4.4.2-3, 186\u003c\/p\u003e \u003cp\u003e4.4.3 Implied Volatility, 187\u003c\/p\u003e \u003cp\u003eCase Study 4.4.3-1, 187\u003c\/p\u003e \u003cp\u003eProblems, 188\u003c\/p\u003e \u003cp\u003e4.5 Exotics, 189\u003c\/p\u003e \u003cp\u003e4.5.1 Asian Options, 189\u003c\/p\u003e \u003cp\u003e4.5.2 Barrier Option, 189\u003c\/p\u003e \u003cp\u003e4.5.3 Basket Options, 190\u003c\/p\u003e \u003cp\u003e4.5.4 Binary Options, 190\u003c\/p\u003e \u003cp\u003e4.5.5 Chooser Options, 191\u003c\/p\u003e \u003cp\u003e4.5.6 Forward Start Options, 192\u003c\/p\u003e \u003cp\u003e4.5.7 Look-back Options, 192\u003c\/p\u003e \u003cp\u003eProblems, 192\u003c\/p\u003e \u003cp\u003eLiterature 195\u003c\/p\u003e \u003cp\u003eIndex 199\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJana Sacks, PhD,\u003c\/b\u003e is Assistant Professor in the Department of Accounting and Finance at St. John Fisher College in Rochester, New York. A member of The American Finance Association, the National Association of Corporate Directors, and the International Atlantic Economic Society, Dr. Sack’s research interests include risk management, credit derivatives, pricing, hedging, and structured finance.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eA step-by-step approach to the mathematical financial theory and quantitative methods needed to implement and apply state-of-the-art valuation techniques\u003cbr\u003e\u003c\/b\u003e\u003cbr\u003eWritten as an accessible and appealing introduction to financial derivatives, \u003ci\u003eElementary Financial Derivatives: A Guide to Trading and Valuation with Applications\u003c\/i\u003e provides the necessary techniques for teaching and learning complex valuation techniques. Filling the current gap in financial engineering literature, the book emphasizes an easy-to-understand approach to the methods and applications of complex concepts without focusing on the underlying statistical and mathematical theories.\u003c\/p\u003e \u003cp\u003eOrganized into three comprehensive sections, the book discusses the essential topics of the derivatives market with sections on options, swaps, and financial engineering concepts applied primarily, but not exclusively, to the futures market.  Providing a better understanding of how to assess risk exposure, the book also includes:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eA wide range of real-world applications and examples detailing the theoretical concepts discussed throughout\u003c\/li\u003e \u003cli\u003eNumerous homework problems, highlighted equations, and Microsoft Office\u003csup\u003e®\u003c\/sup\u003e Excel\u003csup\u003e®  \u003c\/sup\u003emodules for valuation\u003c\/li\u003e \u003cli\u003ePedagogical elements such as solved case studies, select answers to problems, and key terms and concepts to aid comprehension of the presented material\u003c\/li\u003e \u003cli\u003eA companion website that contains an Instructor's Solutions Manual, sample lecture PowerPoint\u003csup\u003e®\u003c\/sup\u003e slides, and related Excel files and data sets \u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eElementary Financial Derivatives: A Guide to Trading and Valuation with Applications\u003c\/i\u003e is an excellent introductory textbook for upper-undergraduate courses in financial derivatives, quantitative finance, mathematical finance, and financial engineering. The book is also a valuable resource for practitioners in quantitative finance, industry professionals who lack technical knowledge of pricing options, and is appropriate for readers preparing for the CFA exam.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989118632165,"sku":"NP9781119076759","price":91.5,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119076759.jpg?v=1761782871","url":"https:\/\/k12savings.com\/products\/elementary-financial-derivatives-isbn-9781119076759","provider":"K12savings","version":"1.0","type":"link"}