mistakes plain and simple

... computer before and know how to turn it on and power it off, how to use a mouse, and how to select text and objects I also assume that you have worked with some kind of software before and know what ... charts and pivot tables ■■ Replication ■■ Upsizing Wizard ■■ Source code control ■■ Support for Access 97 databases A quick overview Microsoft Access 2013 Plain & Simple is divided into sections, and ... together from tables and exploit calculations, parameterization, and many other features 1: About this book In Section 7, “Modifying data using queries,” I demonstrate both simple and more complicated...

Ngày tải lên: 07/04/2014, 15:04

... the most from your computer and your software with the least amount of time and effort and who doesn’t?—this book is for you You’ll find Microsoft Excel 2013 Plain & Simple to be a straightforward, ... information you need—nothing more, nothing less and you want it now! It should be easy to find and understand Another thing I’ve tried to in this book is to find and document the easiest way to accomplish ... of tasks overlap, and I didn’t want to keep repeating myself I’ve scattered some useful tips here and there, and I’ve thrown in a Try This or a Caution occasionally, but by and large, I’ve tried...

Ngày tải lên: 07/04/2014, 15:05

... insert bookmarks and pictures, flow your text, and search and replace text You’ll also find out how to create tables, add headers and footers, insert sidebars and quotes, and save and export Word ... Ballew, Andrew Couch, Andy Pope, and Darren Lloyd, technical reviewers, for testing all the tasks and processes and making sure the text was accurate; ■■ Kim Scott, designer, for a smooth and wonderful ... clear and color­ ul illustrations, and tips and notes along the way to f 2  Plain talk about Office 2013 You can read the book in any order that makes sense to you—just start in a section that explains...

Ngày tải lên: 07/04/2014, 15:07

... use the standard views and standard menus rather than custom ones, and that you use your little friend, the mouse, in the traditional way: that is, you point and click to select an item and then ... Sections 4, “Writing and sending email,” and 5, “Receiving and reading email,” explain how to work with email messages in Outlook, including addressing messages, using the Address Book, and working with ... the most from your computer and your software with the least amount of time and effort and who doesn’t?—this book is for you You’ll find Microsoft Outlook 2013 Plain & Simple to be a straightforward,...

Ngày tải lên: 07/04/2014, 15:08

... Word every day, there are beginners and experts, users at home and at school, and in businesses small and large The work we do, the sources of our information, and the formats of our documents are ... ability to write a draft; to reorganize and revise, and to check spelling and grammar; to show the document to others for review, and to act on their suggestions; and to make the document available ... correct and improve your text by checking spelling and grammar, and making the best use of the automatic corrections and formatting features offered by Word Several tools that are near and dear...

Ngày tải lên: 07/04/2014, 15:09

... flexible and limiting approach to risk that makes options trading appropriate to many different kinds of investors 3 Pricing and behaviour Now that you understand the nature of calls and puts, ... stable or go slightly higher He must demand a fee that justifies the downside risk An example and a strategy Suppose that GE is, as before, trading at 18.03, and the April 18.00 puts are trading ... priced and how they behave In this chapter you will learn that options are both dependent on, and indeOptions are both pendent of, their underlying asset They have lives dependent on, and of...

Ngày tải lên: 20/06/2014, 20:20

... Volatility and pricing models 43 Comparing historical and implied volatility Historical and implied volatility move in tandem; they seldom coincide Figure 4.4 compares the historical and implied ... floor and wedged my way into the crowd, and I waited, knowing that I was covered The bell sounded and the shouting began, and after a few brief stops the FTSE landed at 4400 The traders who were short ... transaction One example is the SPX options on the Standard and Poor’s 500 Index (S&P 500) traded at the CBOE Another example is the ESX options (at the 25 and 75 strikes) on the Financial Times 100 Index...

Ngày tải lên: 20/06/2014, 20:20

... long one 105 call and short two 115 calls, and if XYZ rallies to 115, then the solution is to buy one 125 call Likewise, if the spread is long one 95 put and short two 85 puts, and if XYZ breaks ... call and short one 115 call, and if XYZ quickly rallies to 115, then the solution is to buy one 120 call Likewise, if the ladder is long one 95 put, short one 90 put and short one 85 put, and ... spreads and long put spreads are the safest way to trade options Long call spreads and long put spreads are the safest way to trade options A final note The difference between a spread and a straight...

Ngày tải lên: 20/06/2014, 20:20

... 350 straddle at 21.50 and instead pay 13 for the April 340–360 strangle, resulting in a net credit and maximum profit of only 8.5 Your break-even levels are then 358.5 and 341.5 Your maximum ... profit here is the combined credit from the short call and put spreads Like the short call and put spread, the maximum loss here is quantifiable and limited at the outset Like all premium selling ... spread at and sell the 360–380 call spread at 4.75 for a total credit of 8.75 Here, your maximum loss is 1.25 on the downside and 11.25 on the upside Your break-even levels are 341.25 and 368.75,...

Ngày tải lên: 20/06/2014, 20:20

... put buying opportunity, and demand remains strong This can be nerve-racking for put sellers, and they feel like sitting ducks Often the market retraces and stabilises, and time decay begins to ... stock or underlying, and the upside profit is maintained It is no coincidence that at-the-money calls and puts are priced the same They both offer the same amount of upside and downside volatility ... cent, and that both these strikes are equidistant from the money Calls and puts of the strike prices ascending from the at-the-money strike are said to be on the call skew, while calls and puts...

Ngày tải lên: 20/06/2014, 20:20

... outlooks, but they can be studied in order to understand how options markets work In order to understand synthetics, it is best if you understand why they exist Like all options positions, they ... exchange invariably fluctuates, and so results in a profit to one party and a loss to the other The party who has a loss is then required to deposit the amount of the loss, and this additional deposit ... stocks 21  Futures, synthetics and put–call parity 223 On the other hand, the holder of the long futures position forgoes the dividends payable for the next six weeks, and therefore the value of...

Ngày tải lên: 20/06/2014, 20:20

... what options are and what they You also know how to create spreads, and you have a basic understanding of volatility Most importantly, you have an understanding of risk You understand how the variables ... more to be said about options in terms of theory and in terms of trading The Financial Times Guide to Options, and its precursor, Options Plain and Simple, are intended to be a practical guide to ... daily or weekly Do this with straight calls and puts, and it with spreads O Begin trading with 1×1s, butterflies and condors, in order to minimise skew and implied volatility risk O When you first...

Ngày tải lên: 20/06/2014, 20:20

... calendar spread? (c) i) ii) Although there are 28 days between November and December expirations, and 35 days between December and January expirations, you would like to estimate the profit potential ... with an Italian media mogul, and the December futures contract rallies to 5620 You know that your call position has made a profit, and while awaiting a price quote (and a possible change in the ... following May options on Marks and Spencer, determine the price of the synthetic futures contract and the prices of the missing options Bear in mind that these are settlements and that there can be small...

Ngày tải lên: 20/06/2014, 20:20

... Thorough and readable An Introduction to the Global Financial Markets (2010) by Stephen Valdez, and Philip Molyneux, Palgrave Macmillan A first-rate intro to this business Options Plain and Simple ... 309 see also delta; gamma; theta; vega; volatility and pricing models probability delta and 51–2, 306 theta and 60, 308 problems 241–2 with call and put positions 195–7 put–call parity 231–2 puts ... 177–8, 181 probability 51–2 summary 52 time and 165–9 time decay 49–50, 309 vs gamma, theta and vega 169–70 diagonal call spread 160 direction, market long and short 30 dividends 159, 237 futures...

Ngày tải lên: 20/06/2014, 20:20

... historical and implied volatility, and high historical and implied volatility O Stationary means decreasing absolute price movement, low absolute price movement, decreasing historical and implied ... underlying, and while there is less potential profit, there call and put is also less risk Using the preceding set of Marks and Spencer April options, you could pay 6.75 for one 360 call and pay ... and implied volatility, and low historical and implied volatility Spreads for volatile markets, such as the long straddle, profit from increased volatility, both historical and implied They incur...

Ngày tải lên: 21/06/2014, 00:20

... 350 straddle at 21.50 and instead pay 13 for the April 340–360 strangle, resulting in a net credit and maximum profit of only 8.5 Your break-even levels are then 358.5 and 341.5 Your maximum ... profit here is the combined credit from the short call and put spreads Like the short call and put spread, the maximum loss here is quantifiable and limited at the outset Like all premium selling ... spread at and sell the 360–380 call spread at 4.75 for a total credit of 8.75 Here, your maximum loss is 1.25 on the downside and 11.25 on the upside Your break-even levels are 341.25 and 368.75,...

Ngày tải lên: 21/06/2014, 00:20

... investor, and to improve liquidity and price discovery If and when the FTSE reaches this level again The point is to use butterflies and condors when options premiums are expensive 13  Butterflies and ... complications? Make it simple: if you want to buy stock and write the call, and if there are no dividends involved, and if you’re a short-term investor, then just sell the in the money put and save yourself ... spreads and put spreads Volatility, days until expiration, and butterflies and condors Likewise when volatilities are high, you can often find inexpensive adjacent strike butterflies and condors,...

Ngày tải lên: 21/06/2014, 00:20

... leads to traders trying to meet short-term targets, and then to overtrading, and then to racking up commissions, and then to taking undue risk, and then sometimes to a blowout This is because a ... the options and the underlyings are often listed The near-term eurodollar or short sterling interest rate can be used In the US, the amount and date of the dividends are consistant and widely ... websites and some exchange websites have options calculators Data vendors include the Greeks with their price reports, and most brokerage firms subscribe to one or more data services Many brokerage and...

Ngày tải lên: 21/06/2014, 00:20

... put buying opportunity, and demand remains strong This can be nerve-racking for put sellers, and they feel like sitting ducks Often the market retraces and stabilises, and time decay begins to ... stock or underlying, and the upside profit is maintained It is no coincidence that at-the-money calls and puts are priced the same They both offer the same amount of upside and downside volatility ... cent, and that both these strikes are equidistant from the money Calls and puts of the strike prices ascending from the at-the-money strike are said to be on the call skew, while calls and puts...

Ngày tải lên: 21/06/2014, 00:20

... outlooks, but they can be studied in order to understand how options markets work In order to understand synthetics, it is best if you understand why they exist Like all options positions, they ... exchange invariably fluctuates, and so results in a profit to one party and a loss to the other The party who has a loss is then required to deposit the amount of the loss, and this additional deposit ... stocks 21  Futures, synthetics and put–call parity 223 On the other hand, the holder of the long futures position forgoes the dividends payable for the next six weeks, and therefore the value of...

Ngày tải lên: 21/06/2014, 00:20