Top traders, investors, and analysts agree that one method, option-adjusted spread (OAS) analysis, is the most useful way to compare and value securities with options. Nearly every day the bond market figures out a new way to structure securities, most of which involve options.
This book explains OAS analysis in plain English, presenting each step in the method clearly and concisely. Topics covered include:
This book explains OAS analysis in plain English, presenting each step in the method clearly and concisely. Topics covered include:
- Why yield-based analysis breaks down for nonbullet bonds
- How to model put and call provisions as embedded options
- How to distinguish the intrinsic and time components of option value
- How to model interest-rate volatility, future interest rates, and future bond prices
- How to calculate option-free price and yield
- How to estimate the "fair value" of a bond
- How to calculate implied spot and forward rates
Salespeople, traders, and investors will want to read this book and keep it on their desks.
Paga fácilmente con tarjeta, Klarna, Apple Pay o Google Pay. ¿No estás contento? Siempre tienes 14 días de garantía de devolución. Lee más en nuestros términos. Si tienes preguntas, escríbenos a hello@memmo.org.
Memmo hace que estudiar sea más fácil, estés donde estés. Aquí tienes tus libros de texto y herramientas de estudio inteligentes en un solo lugar: resúmenes, quizzes, podcasts y flashcards. Y también a Ted, tu compañero de estudio que responde a todo lo que te preguntes. Más de 50 000 estudiantes ya estudian aquí. Está hecho para que aprendas más rápido y te estreses menos.