Categorization of Stochastic Processes Discrete time; discrete variable Discrete time; continuous variable Continuous time; discrete variable Continuous time; continuous variable Options, Futures, and Other Derivatives,5 th edition2002 by John.hull

Three Alternative strategies Take a position in the option and the underlying Take a position in 2 or more options of the same type(a spread Combination: Take a position in a mixture of calls puts(A combination)

Types of options A call is an option to buy A put is an option to sell A European option can be exercised only at the end of its life An American option can be exercised at any time

Types of Rates Treasury rates LIBOR rates Repo rates Options, Futures, and Other Derivatives, 5th edition@ 2002 by John C. Hull

Consumption vs Investment Assets Investment assets are assets held by significant numbers of people purely for investment purposes (Examples: gold, silver) Consumption assets are assets held primarily for consumption(Examples: copper, oil)

The nature of derivatives a derivative is an instrument whose value depends on the values of other more basic underlying variables Options, Futures, and Other Derivatives, 5th edition C 2002 by John C. Hull

一、名词解释 证券货币证券上市证券公募证券投资证券期货交易期权交易

一、K线一点通 K线理论发源于日本,是最古 老的技术分析方法,1750年日本人 就开始利用阴阳烛来分析大米期货。 K线具有东方人所擅长的形象思维 特点,没有西方用演绎法得出的技 术指标那样定量,因此运用上还是 主观意识占上风

第15章国际贸易方式 1.1经销、代理和寄售 1.2拍卖和展卖 1.3招标与投标 1.4对等贸易和加工贸易 1.5期货贸易 1.6电子商务

·衍生金融工具的定价(Pricing)指的是确 定衍生证券的理论价格,它既是市场参与 者进行投机、套期保值和套利的依据,也 是银行对场外交易的衍生金融工具提供报 价的依据