The Options Applications Handbook: Hedging and Speculating Techniques for Professional Investors – Erik Banks & Paul Siegel

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Exploring the Essential Features of “The Options Applications Handbook: Hedging and Speculating Techniques for Professional Investors – Erik Banks & Paul Siegel”

The Options Applications Handbook offers a lucid, down-to-earth introduction to the fundamentals of options, explaining how options can be used for various purposes, such as options on exchange rates, interest rates, stocks, futures, and fixed-income securities.

With the help of this on-target guide, readers will be able to understand basic option types…use standard market terminology…grasp the costs, benefits, and risks of basic option positions…identify key factors that affect the price of an option…and see how pricing models have been modified for specialized options. The Options Applications Handbook covers in detail:

• Conventional Options_focuses on the mechanics of call and put options, basic option payoff profiles, and the creation of synthetic options/assets
• Exotic Options_explores second generation option contracts, such as path dependent options and path independent derivatives, that build on the basic structure of conventional options
• Option-Embedded Securities_demonstrates how flexible options can be embedded in securities to build customized funding/risk/investment tools
• Option-Embedded Derivatives_illustrates how options can be combined with other derivatives to create customized risk/investment products, such as callable and puttable swaps
• Option Strategies_describes how options can be used in combinations to create risk management and speculative views on a particular reference asset
• Corporate and Investor Applications_examines how to utilize options for hedging, speculating, arbitraging, and value monetization
• An Overview of Option Pricing_surveys basic pricing matters, including intrinsic and time value, moneyness, and pricing inputs _ Option Pricing Models_outlines option pricing frameworks, such as the Black-Scholes process and the binomial model
• Hedging Option Portfolios_discusses how market-makers and dealers risk-manage their portfolios in practice
• Risk and Control Issues_considers option risk control, including credit and market portfolio risk management and internal financial and audit processes

Editorial Reviews
About the Author
Erik Banks is chief risk officer at a multi-strategy hedge fund and has been active in the banking sector for 20 years. Erik has held senior risk management position at Merrill Lynch, XL Capital, and Citibank in New York, Tokyo, London, and Hong Kong, and has written 20 books on derivatives, risk, emerging markets, and merchant banking.

Paul Siegel is Chief Executive Officer of The Globecon Group, a specialized banking and financial services professional development, conference, and publishing firm operating in the capital markets, credit, risk, corporation finance, and wealth management markets.
 

Product details
Publisher ‏ : ‎ McGraw-Hill; 1st edition (December 13, 2006)
Language ‏ : ‎ English

About the authors
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Erik Banks is the author of more than 20 books on risk, catastrophe, derivatives, emerging markets, and Wall Street. He has spent 35 years as an international banker, working at major financial institutions in New York, London, Tokyo, Hong Kong and Munich; he has also worked in the hedge fund sector and has taught at the University level.

Paul Siegel
THE ENTREPRENEURIAL SPIRIT
Since I was 15 I have been involved in starting, building, expanding or growing entrepreneurial ventures. Some ventures began in my backyard; others in someone’s basement or apartment; and still others within a huge national or global enterprise. In all cases, what has driven me is taking an idea (or problem) and helping spawn that into a reality.

Whether the venture created is in business, science, the arts, education, or any other humane field of endeavor, invention and discovery drives me. I am also very committed to contribute to my family, friends, colleagues, community and world.

I have been in so many different ventures in my life that my mother wondered out loud when I was ‘going to get a job.’ But my job has always been creating jobs. That is the work of an entrepreneur. In the early 1990s, I began my career in technology investment banking, advising software and hardware companies on business and financing strategies, and raising funds for those businesses. At that same time, I took a strong interest in publishing. As we all know, both information publishing companies and technology companies in the 1990s saw their World crash together head on. Each learned they could not survive or thrive if they were not strong in their command of both technology and information.

Not every venture I have been involved in succeeded. Anyone who tell you have have a perfect busienss track record is simply lying. But the failures inform how you do the next one better …, assuming you are willing to learn and grow by the mistakes you make.

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ENTRY INTO THE BUSINESS OF EDUCATION

In 2002, I landed in the education arena when we rescued and then resuscitated a globally well-regarded live, in person training and publishing company that had jumped into e-learning in the late 1990s, way before anyone even knew how that might work online. I ran that business for about 16 years and travelled the World to manage training initiatives for many of the largest global financial institutions, and many 100s of 1000s of individual students (over 10x the number of students I now have on Udemy).

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THE BACKDROP | A PASSION FOR LEARNING | PERSISTENCE

As a child, I struggled to read and felt a great deal of embarrassment and frustration because of that. But, I refused to let that prevent me from learning. I kept many hundreds of English language words with definitions and their usages on file cards, and daily reviewed and read their meanings and usage. I felt embarrassed, humbled and (rather) angry that I had difficulty learning. But, I PERSISTED AND WOULD NOT GIVE UP.

By high school was enrolled in many advanced placement classes, and then was fortunate to end up at an Ivy League school (the University of Pennsylvania) where I majored in Economics, and had dual minors in Mathematics and English. I also participated in courses in the UPenn’s venerated Benjamin Franklin Scholars program, which was intended to be limited to the most intellectually gifted kids at school (which I was certainly not). So, how did I get to take courses in this program? I demonstrated that I wanted to learn everything and would not compromise on the normal boundaries. I also showed up and would not take no for an answer. 

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MY TAKEAWAY AND ADVICE FOR YOU

If you want to build your dreams, you can but you must persist. You must set your eye on an ambition and never give up. You must learn to pivot and change as circumstances change, of course, and you must always learn and learn to learn.

My mission is to help you learn and to help you achieve your dreams. Feel free to reach out to me on LinkedIn if I can support your ambitions in any way.

Stay healthy. Stay happy. Keep growing. Always be learning.

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