Options, futures, & other derivatives
by John C. Hull · first published 1989
71% recommend29% neutral
Why HN recommends it
Standard textbook for learning derivatives and quant finance from scratch, covering a wide range of instruments and basic pricing models. Suits newcomers with basic calculus and probability who want a reference.
Summarised by Claude from recommending comments
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…nothing comes close. Most of the descriptions are still valid today (even if some of the mechanics have changed) If you want something more along the lines of what a financial engineer would know: - "Options, Futures, and other Derivatives" by John Hull (goes over basic models without delving too deeply into theoretical math aspects) - "Stochastic Calculus for Finance II" by Steve Shreve (goes over the basic stuff but has enough stats…
on “Good books for hackers interested in quant finance?” ↗Options, Futures, and Other Derivatives by John Hull Principles of Corporate Finance by Richard Brealey, Stewart Myers, Franklin Allen Traders, Guns and Money: Knowns and unknowns in the dazzling world of derivatives by Satyajit Das
on “Ask HN: What are the must-read books about economics/finance?” ↗Two recommendations: "Options, Futures, and Other Derivatives" by John Hull and "Dynamic Hedging" by Taleb.
on “Good books for hackers interested in quant finance?” ↗"Options, Futures, and Other Derivatives" (John Hull) is the definitive newbie handbook in quant finance. If you are interested in Quantitative Finance, you should understand this book, cover-to-cover. "Principals of Corporate Finance" (Brealey…
on “Quantitative Finance Reading List” ↗…new to Options, I will suggest doing some research and reading online to familiarize yourself. If you are further interested in learning theory and mathematics of Options, a good introductory text is "Options, Futures, and Other Derivatives" by John Hull http://www.amazon.com/Options-Futures-Other-Derivatives-9th/...
on “Ask HN: Best way for individual investor to take short position in tech stocks” ↗…Chan "Algorithmic Trading", Dr. Ernest Chan "Machine Trading: Deploying Computer Algorithms to Conquer the Markets", Dr. Ernest Chan "Advances in Financial Machine Learning", Marcos Lopez de Prado "Options, Futures and Other Derivatives (10th edition)", John C. Hull Buddhism: "Open Heart, Clear Mind", Thubten Chodron "Buddhism For Beginners", Thubten Chodron "Working with Anger", Thubten Chodron Reading For Pleasure: "Naked Statistics",…
on “Ask HN: What books do you keep on your desk?” ↗Check out the book "Options, Futures, and Other Derivatives" by Hull, it covers a huge swath of financial instruments. [0] https://www.amazon.com/Options-Futures-Other-Derivatives-10t...
on “A guide to pricing and hedging (2003) [pdf]” ↗…processes are very popular on the trading side, as is applying attention-based NLP techniques for pattern recognition. If you are interested in stochastic calculus and convex strategies, John Hull's "Options, Futures and Other Derivatives" is a classic read. Another good book is Marcos Lopez de Prado's "Advances in Financial Machine Learning."
on “Ask HN: Does a CFA Matter in FinTech?” ↗More recently, I've really enjoyed: - Options, Futures, and Other Derivatives (John C. Hull): https://www.amazon.ca/Options-Futures-Other-Derivatives-10th... - Financial Accounting Theory (Scott & O'Brien): https://www.amazon.ca/Financial-Accounting-Theory-8th-Editio... - Networks…
on “Ask HN: What do you read for general knowledge?” ↗Quantitative finance: Options, Futures, and Other Derivatives by John Hull
on “Ask HN: What book is considered the bible of your field/industry?” ↗…increasingly applied in modern finance. If you're interested in options and other derivatives (I find derivatives to be the most interesting, and least arbitrary, financial product), I'd start with John Hull's "Options, Futures, and Other Derivatives", which is a textbook at maybe the sophomore or junior level. I hear the PDF is freely circulated online. I think understanding how options and futures work is essential for understanding finance. A slightly…
on “SIPC Says It Has Serious Concerns About Robinhood's New Product” ↗Options, Futures and Other Derivatives is basically a Bible. https://www.amazon.com/gp/aw/d/013447208X/ref=dp_ob_neva_mob...
on “Ask HN: What are the best textbooks in your field of expertise?” ↗…language used for performance (C++, Java typically) while also being familiar with the data analysis libraries of Python. If you have no experience with finance and you're coming in to that cold, give Options, Futures and Other Derivatives a read. I'm assuming you're in this boat because you're asking the question. This is sort of catch-all advice. If you're working at Virtu or Jump, you're going to want to know as much as you can about…
on “Ask HN: How to prepare for algorithm trading interview as a developer” ↗Sure thing! Here are some I've used in addition to the above: Lecture notes from Dr Kohn at NYU: http://www.math.nyu.edu/faculty/kohn/math-finance-lecture-no... Options, Futures, and Other Derivatives by Hull (considered one of the best books in this field, but I like the next one better) An Introduction to the Mathematics of Financial Derivatives by Neftci Numerical Methods in Finance and Economics:…
on “The ‘Final’ Frontier of Algorithmic Trading” ↗…For equities first try Pricing the Future - it gives a rare historical context to the Black-Scholes equation. I suppose reading McKinsey's Valuation is good for understanding cash flow valuation. Hull's Options, Futures, and Other Derivatives is the cornerstone piece of the field, followed closely by Paul Wilmott on Quantitative Finance. If you get volatility you understand the liquid equity markets. Now you understand basic theoretical finance…
on “Financial Software Projects (C++) - NYU Fall 2011” ↗