WILLIAM J. GARTLAND, CFA
Managing DirectorBenchmark Solutions
NICHOLAS C. LETICA
Managing DirectorCitigroup Global Markets, Inc.
As the sophistication and diversity of investors have grown, the need for derivative instruments such as options has increased accordingly. Knowledge of option strategies, once the province of a few speculators, is now necessary for everyone who wishes to maintain a competitive edge in an increasingly technical market. Moreover, options technology has been applied with increasing success to securities with optionlike characteristics such as callable bonds and mortgage-backed securities.
In Chapter 59, option contracts were described: exchange-traded options on physical ...