Overview

Barrier options. Asian options. Digitals. Lookbacks. The bespoke contracts that banks sell to corporate hedgers and fund managers - explained in 30 minutes, in plain English. Up To Speed: Financial Options - Exotic is the next thirty minutes after the basics. If you know what a call and a put are, this book takes you to the OTC end of the options market - where the contracts are tailored, the payoffs are reshaped, and the prices come from models, not order books. In 30 minutes you'll understand: What makes an option ""exotic"", and why bespoke contracts exist at all Barrier options - knock-in, knock-out, and the price discontinuity that catches buyers out Asian options - why corporate treasurers and commodity desks use them everywhere Digital options - the cliff at the strike, and how they differ from the retail ""binary"" products Lookback and path-dependent options - why eliminating timing regret is so expensive How exotics are priced when there is no Black-Scholes formula - Monte Carlo in plain English Why exotics live in the OTC market and what that means for the buyer Built on everyday analogies. Every chapter opens where you already are - a phone-shop bespoke contract, a theme-park ticket with fine print, a streaming subscription with a retroactive discount - and builds from there. By the end you'll be able to read a term sheet without being lost. What this book is not: It is not a pricing manual or a hedging guide - those topics belong to a multi-volume textbook. This book does one thing: gives you the conceptual foundation to understand the contract families that institutional investors trade and that, increasingly, end up wrapped inside retail structured products. Volume 2 of the Up To Speed series. Volume 1, Financial Options - Plain Vanilla, covers calls and puts. You can read this book without it, but the prequel is the cleaner introduction. Written by Dr. Felix Crane, a financial economist with more than two decades in financial markets. Published by Up To Speed Press, an imprint of Sneks AG, Switzerland.

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