Options in volatile markets managing volatility and protecting against catastrophic risk
"Traditional thinking about investment has been thrown on its head in the wake of the financial crisis. Many investors no longer accept the idea that diversification reduces risk and the stock market provides the best long-term returns. With global markets increasingly interlinked, markets tend...
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| Formato: | Libro electrónico |
| Idioma: | Inglés |
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Hoboken, N.J. :
Bloomberg Press
2011.
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| Edición: | 2nd ed |
| Colección: | Bloomberg financial series.
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| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009627792906719 |
Tabla de Contenidos:
- OPTIONS FORVOLATILEMARKETS; Contents; Preface; INTRODUCTION The "New Normal" in Equity Investing; CHAPTER 1 Option Basics; What Are Options?; Exercise and Assignment; Positions; How Options Are Traded; Options in Your Account; CHAPTER 2 Option Pricing and Valuation; Option Premium; Theoretical Value; Time Value; Volatility; Interest Rates; Dividends; Calls versus Puts; Option Skews and Anomalies; CHAPTER 3 The Basics of Covered Call Writing; Requirements for "Valid" Covered Writes; Risk/Reward of a Covered Write; Calculating Potential Returns; Major Factors Affecting Call-Writing Returns
- Covered Writing as an Ongoing StrategySumming Up Covered Writing; CHAPTER 4 Implementing Covered Call Writing; Follow-Up Actions; Behavioral Issues; Differing Approaches; Selecting Calls to Write; Risks; Basic Tax Rules for Options; Summing Up Implementation; CHAPTER 5 Advanced Call-Writing Techniques; Writing Calls on "Hot" Stocks; Tax Deferral Strategies; Covered Writing on Margin; Covered Writing against Securities Other Than Stock; Partial Writing, Mixed Writing, and Ratio Writing; Put Writing; Expiration Games; Option-Stock Arbitrage; CHAPTER 6 Basic Put Hedging; Put Hedge Basics
- AdvantagesDisadvantages; Behavioral Implications; Put Hedge versus Covered Call; Hedging against Catastrophic Risk; CHAPTER 7 Advanced Hedging Strategies; Put Hedge Follow-Ups; Using Put Spreads to Hedge; Collars; Conclusions on Protective Option Strategies; CHAPTER 8 Options on ETFs; ETFs in a Nutshell; ETF Options; Covered Call Writing on ETFs; Our Put Hedge and Collar Study on SPY; Appendix: Partial List of ETFs with Listed Options; CHAPTER 9 Volatility and Volatility Derivatives; What Is Volatility?; Using VIX as a Market Indicator; Volatility Futures; Variance Futures
- The Behavior of VIX FuturesVIX Options; VIX Option Strategies; The Future; Acknowledgments; About the Authors; Index
