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Fundamentals of Futures and Options Markets, 9th edition

Published by Pearson (August 1, 2021) © 2017

  • John C. Hull University of Toronto
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For courses in derivatives, options and futures, financial engineering, financial mathematics, and risk management.

An Easily Understandable Introduction to Futures and Options Markets

Fundamentals of Futures and Options Markets covers much of the same material as Hull’s acclaimed title, Options, Futures, and Other Derivatives. However, this text simplifies the language for a less mathematically sophisticated audience. Omitting calculus completely, the book is suitable for any graduate or undergraduate course in business, economics, and other faculties.

The Ninth Edition has a flexible structure that can be used for any course length. Instructors can choose to cover only the first 12 chapters, finishing with binomial trees, or to cover chapters 13-25 in a variety of different sequences. Each chapter from 18 onwards can be taught independently as its own unit. No matter how you elect to divide the material, Fundamentals of Futures and Options Markets offers a wide audience a sound and easy-to-grasp introduction into financial mathematics.

Brief Contents

  1. Introduction
  2. Futures markets and central counterparties
  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. Mechanics of options markets
  10. Properties of stock options
  11. Trading strategies involving options
  12. Introduction to binomial trees
  13. Valuing stock options: the Black–Scholes–Merton model
  14. Employee stock options
  15. Options on stock indices and currencies
  16. Futures options and Black’s model
  17. The Greek letters
  18. Binomial trees in practice
  19. Volatility smiles
  20. Value at risk and expected shortfall
  21. Interest rate options
  22. Exotic options and other nonstandard products
  23. Credit derivatives
  24. Weather, energy, and insurance derivatives
  25. Derivatives mishaps and what we can learn from them

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