Although calculus has a reputation of being tough, the concept is quite simple. If you have a function that represents something, the derivative of that function describes the rate of change at ...

Derivatives are financial instruments whose value is derived from one or more underlying assets or securities (e.g., a stock, bond, currency, or index). A derivative is a contract that derives its ...

Here now is the first rigorous and accessible account of the mathematics behind the pricing, construction and hedging of derivative securities. Key concepts such as martingales, change of measure, and ...

Step 1: Log in to your margin account and calculate the value of all the shares you have. For example, suppose you hold 1000 shares of Rs. 10 each and 500 shares of Rs. 15 each. The total value ...

Here is the first rigorous and accessible account of the mathematics behind the pricing, construction, and hedging of derivative securities. With mathematical precision and in a style tailored for ...