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Introduction to Option-Adjusted Spread Analysis: Revised and Expanded Third...

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Introduction to Option-Adjusted Spread Analysis: Revised and Expanded Third...

  • $32.96


Introduction to Option-Adjusted Spread Analysis: Revised and Expanded Third Edition of the OAS Classic by Tom Windas 3rd, Revised and Expanded Edition of the OAS Classic by Tom Windas Edition



Product Details

  • Hardcover: 159 pages
  • Publisher: Bloomberg Press; 3rd, Revised and Expanded Edition of the OAS Classic by Tom Windas edition (May 1, 2007)
  • Language: English
  • ISBN-13: 978-1576602416
  • Product Dimensions: 5.8 x 0.7 x 8.6 inches
  • Shipping Weight: 2.4 ounces

Top traders, investors, and analysts agree that one method,option-adjusted spread (OAS) analysis, is the most useful way tocompare and value securities with options. Nearly every day thebond market figures out a new way to structure securities, most ofwhich involve options.

This book explains OAS analysis in plain English, presenting eachstep 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 optionvalue
  • 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 andkeep it on their desks.


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