Derivatives Trading and Option Pricing
Publisher: Risk Books
Published: March 2005
Format: Hardcover
Number of pages: 415
ISBN-13: 9781904339380
Subjects: Investment & securities
First sentence: Practitioners and academics alike agree that deviations from the Black-Scholes paradigm are ubiquitously observed in the equity, fixed-income, foreign exchange, credit and commodity markets, and result in strike-dependent volatility structures (smile or smirk) (see, for example, Lipton, 2001a).