The Volatility Smile (wiley Finance) -

"The Volatility Smile" by Derman and Miller provides a comprehensive guide to bridging Black-Scholes-Merton theory with real-world market dynamics. The text is structured into two main parts, covering fundamental valuation and replication, followed by advanced models like local and stochastic volatility to explain the smile phenomenon. For more details, visit Wiley Online Library .

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