Analysis of Derivatives for the CFA® Program introduces students and practitioners to a practical risk management approach to derivatives. The textbook captures current practice and reflects what the general investment practitioner needs to know about derivatives. It does not simply deliver an explanation of various derivatives instruments and positions but provides motivation for every derivatives position by explaining what the manager wants to accomplish prior to addressing the details of the position.
I used this book for Financial Risk Management. It does not explain mathematical methods, that you need to figure out for yourself through trial and error. The exercises helped a lot with the exam paper. The narrative is in a very boring style....yaaaaawwwwwnnn. It was very expensive when I bought it, R1500.00.