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5.0 out of 5 stars THE Reference Manual
Fantastic reference manual for the most basic to unusual options. Well organized making it easy to find what you're looking for. If you're looking for derivations of models, you've got the wrong book. If you're looking for formulaes and perhaps even spreadsheets, this is the book for you.
I know of no other book as comprehensive as this book. I don't know if...
Published on March 5 2003

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2 of 2 people found the following review helpful
1.0 out of 5 stars Numerous technical mistakes
I have reviewed many of the formulas in several sections of this book and have found a number of mistakes. As a result, I can trust no formula from the book without reviewing the literature or some other source.
The author does not use consistent terminology throughout the book. Rather, the terminology of the original journal article is used for each pricing model...
Published on Dec 2 2003 by Galileo Galilei


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2 of 2 people found the following review helpful
1.0 out of 5 stars Numerous technical mistakes, Dec 2 2003
By 
Galileo Galilei (Frostbite Falls, MN USA) - See all my reviews
I have reviewed many of the formulas in several sections of this book and have found a number of mistakes. As a result, I can trust no formula from the book without reviewing the literature or some other source.
The author does not use consistent terminology throughout the book. Rather, the terminology of the original journal article is used for each pricing model. This makes referring to the articles convenient, but then you don't need the book if you're going to the source...
I have used few of the computer programs offered, but the ones that I have used have had terrible inefficiencies. For example, a bisectional iterative search was used, which is very simple to write but is also very inefficient. There are many other simple and more efficient alternatives.
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5.0 out of 5 stars THE Reference Manual, March 5 2003
By A Customer
Fantastic reference manual for the most basic to unusual options. Well organized making it easy to find what you're looking for. If you're looking for derivations of models, you've got the wrong book. If you're looking for formulaes and perhaps even spreadsheets, this is the book for you.
I know of no other book as comprehensive as this book. I don't know if there will be a revised edition, but if there is, I will certainly buy it since this is, in my mind, the definitive reference manual.
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4.0 out of 5 stars Almost All Options Covered, Feb. 24 2003
By A Customer
This book addresses most of the issues in pricing options. It doesn't cover features which have a real affect on value, however. Legal, language, cheapest-to-deliver, and documentation issues which affect pricing for credit derivatives aren't factored into the analysis, and these options are a huge and growing part of the derivatives market.
There is a new book coming out by Schonberg on credit derivative modeling. For more complete coverage of those issues, I highly recommend Tavakoli's book which gives practical examples to illustrate the meaning behind the models. It's called "Credit Derivatives and Synthetic Structures".
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5.0 out of 5 stars Not a "Day Trader's" Guide, Jan. 15 2002
By 
To Nick from Jupiter, FL USA --
I hope you didn't buy this book to get rich quick trading options! It is a guide to option pricing FORMULAS. Not options pricing GET-RICH-QUICK-SCHEMES!
The book does what it is intended; it gives (check this, it's even in the title) The Complete Guide to Option Pricing Formulas. duh.
HH
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5.0 out of 5 stars A gem of a book!, Dec 5 2001
By A Customer
This book is great for those who want a no nonsense guide to various option pricing formulae. What makes this book worthy of ten stars is that it provides VBA codes implementing virtually all of the formulae presented in the book. This is a great book for anyone interested in learning how option and derivative pricing works. The difference between loving a book like this -- as opposed to NOT really being interested in a book like this because one is scared of a little math -- is like the difference between knowing how to engineer, design, and build a fine sports car -- as opposed to knowing how to steer an old clunker.
So if you are REALLY interested in options and aren't afraid of a little math and a little programming, then this book is a must buy!
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1.0 out of 5 stars Need More Calculus in your Life ?, Nov. 6 2001
By 
Nick (Jupiter, FL USA) - See all my reviews
Unless you are a Calculus buff or must have the details of the underlying formulas for personal satisfaction or software development skip this book.
This will not help you trade better, the same way that understanding the combustion engine will not help you learn to parallel park your car.
Leave this stuff to the numerous software products on the market and learn to interpret those results in order to find good trades that make money.
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5.0 out of 5 stars I would like to give 5+ stars to every future editions!, Sept. 7 2001
By 
Weiqin Xie (New Jersey, United States) - See all my reviews
So far there's no any reference book on option pricing formulas can beat this one. The book has tons of authentic option formulas with detailed bibliographic citations, real examples with numerical inputs, and "beautiful" Excel VBA code without error. However, there is a single major flaw: the CND! The author used it everywhere in VBA code when the cumulative normal distribution function is needed and referred it to an approximation formula and a table in the Appendix. A few year ago, it might be the only convenient way to make the job done. However, in Excel 2000 we have a built-in function NORMSDIST() to accomplish the task. The book was published in 1998. It's the time to update it now. When the new edition comes, I will go to buy it immediately - assuming the CND is replaced. To publisher: keep your good quality of proof-reading and reasonable price. I will give this book 5+ stars forever!
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5.0 out of 5 stars Dont even think...JUST GET IT!, July 23 2001
By 
Shashank Tripathi (Gadabout) - See all my reviews
(REAL NAME)   
If you are reading this page, it means that you are interested in derivative securities. I am a person who is "average" on calculus (did it in univ 4 years back), have been a consultant until now since my graduation but wanted to move into i-banking...
I sulked at the thought of (if not dreaded) going back to calculus and all those math-heavy thingies, but among my searches I found this book. It sounded best because rather than a lot of historical and theoretical jazz alone, I wanted to see a compilation of the actual formulae. Believe me, JUST GET IT!!
1. This book gives me all of the above in one neat capsule form! All the introductory derivatives stuff i read sounded like "And derivates can be of the type options, futures etc". That 'etc' always bothered me because I wanted something which told me ALL types of derivatives. This book does it - at least MOST of it. It has BlackScholes, binomials, also has an excellent section on Monte Carlo.
2. This book also made me feel a lot more confident than the average book from my library - right from chapter 1, I did not feel that it has been a long time since I did derivatives and integration. Worth it.
3. Anyone who says that this is too techie for a normal person just does not get it. I am a very ordinary calculus guy, but this made sense ....you of course need to put your head to it..you cannot be watching Seinfeld and reading this book-- and remember, its structured more like a reference book with all the formulas and brief descriptions of why/how/where they are likely to be used. Excellent and efficient scope if you ask me!
4. As I said, if you are looking at this page then you are most likely interested in derivatives, and believe me my friend, just get this book. It is worth EACH PENNY regardless of what other books you may have!
If you are really keen, I would also suggest reading this in conjunction with "Options, futures..." by John Hull (Prentice Hall). And if you are really really keen, take a look at this v. informative website:

Good luck.
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5.0 out of 5 stars Option Pricing using Excel VBA, April 9 2001
By 
Franco Arda (San Jose, CA) - See all my reviews
(REAL NAME)   
If you are looking for a book on option pricing using Excel VBA, there is no alternative to that book. Haug succeeded in writing an exciting book the most common options, the way of pricing them AND providin all the Excel VBA formulas. A fantastic book to get started with option pricing covering:
Plain Vanilla Options (B&S, Option sensitivities etc.) Exotic Options (loads of exotics covered) Numerical Methods in Option Pricing (incl implied trinom tree) Interest Rate Options (Hull, Ho, White etc.) Volatility and Correlation (histor vol, implied vol) Some Useful Formulas (interpolation) Distributions
It's a fantastic book for the serious student who does want to understand the Excel VBA formulas. The disk is very useful and allows to see the formulas in more detail. Mathematical level? I would boldly claim that you get 80% of the book without having an idea about calculus. That makes the book very readable (Wilmott & co are the real quant's!). Haug gets successfully around the heavy calculus / PDE stuff. Bravo!
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5.0 out of 5 stars This book has it all, July 5 2000
By 
M. Kim (WEST LINN, OR) - See all my reviews
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With explicit options formulas and VBA codes, this book is a must for all of us who are involved in option pricing.
I wish there is a second volume to this book.
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The Complete Guide to Option Pricing Formulas
The Complete Guide to Option Pricing Formulas by Espen Gaarder Haug (Hardcover - Dec 18 2006)
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