Investing in Futures and Options Markets

Investing in Futures and Options Markets is a comprehensive introduction to investing. Presented in an easy-to-understand manner, this book is for agribusiness and agricultural economics students, or for anyone with an interest in the business and finance of agriculture. Starting with a brief history of futures markets, the book demonstrates how to conduct a self-appraisal and develop an investment plan. Chapters address the mechanics of trading, speculative and hedging strategies, options markets, trading options, and price analysis.ALSO AVAILABLEINSTRUCTOR SUPPLEMENTS CALL CUSTOMER SUPPORT TO ORDERInstructor's Manual, ISBN: 0-8273-8571-4

GETTING STARTED: Introduction
Self-Appraisal
Developing a Plan
MECHANICS OF TRADING: The Basics
The Margin
A BRIEF HISTORY OF FUTURES MARKETS: Early Marketplace
Early U

Futures Marketplaces
Futures and Options Exchanges
Regulating Groups
INVESTING AS A SPECULATOR--THE BASIC: Short Term
Long Term
Spreaders
Problems
SPECULATIVE STRATEGIES: Fear and Greed
Puking
Discipline
Trading Plans
Managed Trading Systems
INVESTING AS A HEDGER--THE BASICS: Basis and Basis Changes
Types of Hedges
Computing Net Hedge Prices
HEDGING STRATEGIES: THE GRAIN AND OILSEED COMPLEX: Producers
Production Hedges
Using Target Prices
Merchandisers
Ex-Pit Transactions
Call Contracts
HEDGING STRATEGIES: THE LIVESTOCK AND MEAT COMPLEX: Producers
Production Hedges
Live Cattle
Hogs
Feeder Cattle
Beef Products
Dairy Products
Input-Packer Hedges
Merchandisers and Processors
Trade Hedges
Value-Added Hedges
Using Target Prices
To-Bid Prices
Total Hedging
Basis Aspects
Problems
HEDGING STRATEGIES: METALS AND INTERNATIONAL COMMODITIES: Hedging the Metals Complex
Spread Hedging
Economic Factors
Hedging the Petroleum Complex
Natural Gas Hedging
Basis Aspects
Economic Factors
Other International Commodities
HEDGING STRATEGIES: THE FINANCIALS: Financial Concepts
Interest/Rate Hedging
Anticipatory Hedge
Bond Hedging
Long Hedging
Short Hedging
Net Hedging
Spread Hedging
Equalizing the Hedge
Currency Hedging
Currency Concepts
Index Futures
Swaps and Other Derivatives
Other Derivatives
PRACTICAL HEDGING CONSIDERATIONS: Situational Hedging
Full Risk Hedging
Cross Hedging
Different Grades/Standards/Maturities
Matching Quantities
Minimum Risk Hedges
OPTIONs MARKETS: THE BASICS: Mechanics of Trading
Actual Versus Futures
Premiums and Strike Prices
Exercising and Retrading Options
Buying Options
Selling Options
Covered Option Writing
Selling Options Naked
Spreading
Problems
TRADING OPTIONS: Hedging
Option Hedging Considerations
Financial Requirements
Price Protection
Price Insurance
Speculating
Spreading
Problems
PRICE ANALYSIS: Fundamental Analysis
The Weighted Matrix Approach
Seasonal and Cyclic Factors
Econometrics
Technical Analysis
Mathematical Fitting
A Final Note
Problems
APPENDIX A: Recommended Readings
APPENDIX B: Recommended Internet Sites
APPENDIX C: Exchange Traded Futures and Options

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Investing in Futures and Options Markets

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Table of Contents

Supplemental Materials