Pricing, Hedging, and Trading Exotic Options: Understand the Intricacies of Exotic Options and how to Use Them to Maximum Advantage
As the financial world grows more intricate and interlocked, exotic options are taking on greater importance as a way to tailor a financial instrument to meet specific needs. This text explains the theory and applications of virtually every type of exotic option.
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Motivation for Using Exotic Options
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American option Asian option asset Assume at-the-money average option bank barrier options basis points basket option Bermudan option binary option Black-Scholes bull spread call option struck callable bond cheaper choice date chooser client compound option Compounding Help Today's Consider contingent premium cap correlation costs coupon currency dealer delta delta-hedge digital option Dividend Rate Double Barrier equity European call option European option example exotic options expiration date Figure formula forward start option Gamma going hedge Help Today's Date holder interest rate swap investor issuer Japanese yen knock-out Libor lookback lookback call lookback option Nikkei node numbers Omega Options INTRODUCTION parameters payout percent portfolio position purchase put option rebate receive risk Risky European sell shout option sold spot price stock price straddle strike price struck at $100 swaption Theta trade tree U.S. dollar underlying instruments Vega yield curve zero