FX Options
Pricing, Hedging, Exotics, Risk and Institutional Practice
Luigi Pascal Rondanini · Introduction by David Axtell
The second volume in the Foreign Exchange Markets Professional Series. 30 chapters across six parts — vanilla and exotic FX options, the complete Greeks framework, volatility surfaces, structured products, institutional risk management, and advanced volatility models. Written for practitioners who price, hedge, or manage risk in FX derivatives. Not a textbook. A desk reference.
Presale open – Hardcover £99.99 · Paperback £74.99 · eBook £45.99
EPUB here and on Amazon pre-order. Print temporarily direct from rondanini.com only. Pay with Stripe on this page for instant eBook download; paperback & hardcover ship from 15 September 2026. Trim 7×10 in. Book 2 of the Foreign Exchange Markets Professional Series.
Now available
Podcast — Between the Covers & Beyond
FX Options | A Conversation About Luigi Pascal Rondanini's New Book — a 24-minute discussion of the ideas behind Book 2: volatility as a market phenomenon, implied vol and surfaces, the Greeks in practice, SABR, Heston, Vanna-Volga, and what practitioners need beyond textbook theory.
Also available on YouTube, Amazon Music, and other major podcast platforms.
20% cashback for Book 1 buyers
Purchased FX Cash Products (Book 1)? When you pre-order FX Options: Pricing, Hedging, Exotics, Risk and Institutional Practice through rondanini.com, you receive 20% cashback on your Book 2 purchase. The cashback applies to any format – hardcover, paperback, or ebook – and is issued after your Book 2 order is confirmed. Proof of Book 1 purchase required (order confirmation email or screenshot).
This cashback offer is exclusive to purchases made directly on rondanini.com.
Buy on this page via Stripe. Mention Book 1 in your enquiry (or attach proof when we follow up) so we can apply the cashback.
Who This Book Is For
This book assumes familiarity with spot and forward FX markets, basic option mechanics, and elementary statistics. A few later chapters draw on stochastic calculus and numerical methods; these sections are clearly signposted and may be read selectively.
What This Volume Covers
Part I: Options Foundations (Chapters 1–6)
Part II: Exotic Options (Chapters 7–12)
Part III: Risk Management & Applications (Chapters 13–17)
Part IV: Advanced Strategies & Markets (Chapters 18–23)
Part V: Institutional Applications (Chapters 24–29)
Part VI: Modern Trends (Chapter 30)
Table of Contents
Part I: Options Foundations
Part II: Exotic Options
Part III: Risk Management & Applications
Part IV: Advanced Strategies & Markets
Part V: Institutional Applications
Free sample — Chapter 4: The Greeks
Browse the interactive flipbook sample of FX Options: Pricing, Hedging, Exotics, Risk and Institutional Practice. Chapter 4 is the bridge from Book 1 into options risk — self-contained and useful for evaluating the volume before you pre-order.
Prefer a full-window view? Open the Chapter 4 sample on Heyzine. Ready to order? Buy eBook or print ↓
From the Foreword
David Axtell – FX Practitioner, Host of The Trading Floor Podcast
I have spent thirty-five years in FX markets, trading across London, Riyadh, Doha, and Dubai, and I can tell you with confidence that the gap between what appears in most derivatives textbooks and what actually happens when you are holding a position is substantial. Luigi Pascal Rondanini has spent nearly four decades in these markets – a decade as a practitioner and the years since as a consultant who has to make these instruments work for clients with real exposures and real financial consequences. That combination of analytical rigour and operational experience is exactly what this subject requires, and it is what this book delivers.
Pricing & purchase
Presale is open on this page. The EPUB eBook is available here and on Amazon pre-order (and other major marketplaces). Paperback and hardcover are, for now, sold only directly at rondanini.com — temporary, until we find distribution that does not force an arm-and-a-leg print price; see this Medium essay. Pay securely with Stripe (Payment Links + redirect). eBook: instant download on the thanks page after checkout. Paperback / hardcover: ship from 15 September 2026. Companion Python available now. Book 2 of the Foreign Exchange Markets Professional Series.
Companion Python — standalone
Book + companion bundle
eBook
Paperback
Hardcover
Stripe Payment Links (card / Link / wallets). eBook download is webhook-free. Print cannot ship before 15 September 2026. International: customs may apply. Need an invoice or bulk quote? Use the enquiry form.
ISBNs
Paperback: 978-1-918177-20-6
Hardcover: 978-1-918177-22-0
eBook (EPUB): 978-1-918177-21-3
BISAC: BUS036010 (Business & Economics / Investments & Securities / Derivatives)
Invoice or bulk enquiry
Prefer an invoice, multi-copy quote, or Book 1 cashback help? Use this form — we verify your email first, then follow up (usually within two business days). For immediate purchase use the Stripe buttons above.
Applications closed
Beta Reader Programme — Closed
The beta reader programme for FX Options: Pricing, Hedging, Exotics, Risk and Institutional Practice is now closed. We are no longer accepting new applications. Thank you to everyone who applied and to our selected readers for their feedback.
Buy now with Stripe on this page. Email orders@rondanini.com or use the enquiry form for invoices.
About the Author
Luigi Pascal Rondanini is the founder of Rondanini Publishing Ltd and an independent treasury consultant with 38 years of experience in FX and financial markets, including a decade as a practitioner trading FX, money markets, derivatives, and fixed income. His advisory work spans corporate treasury, FX exposure management, and derivatives market structure across multinational corporations and financial institutions.
Foreign Exchange Markets Professional Series
| Book | Title | Status |
|---|---|---|
| Book 1 | FX Cash Products – Spot, Forwards, Swaps & NDFs | Published – Buy now |
| Book 2 | FX Options: Pricing, Hedging, Exotics, Risk and Institutional Practice | Presale open — eBook now · print from 15 Sep 2026 (this page) |
| Book 3 | Cross-Currency Swaps and Basis Trading | Coming December 2026 |
| Book 4 | Emerging Market FX | Forthcoming |
| Book 5 | FX Risk Management and Regulation | Forthcoming |
Companion Python — from purchase to Run
Buy the book (or the playground add-on) → unlock the companion Python → open any worked example with book defaults pre-filled → change the parameters → Run → optionally download the script or the full ZIP.
The printed book example is the starting point, not a locked demo. Default mode in the playground is parametrise. Coverage: 193 worked examples (Chapters 4 and 8–30). Hosted at rondanini.com/fxoptionsplayground — not mixed with the FX Cash Products / fx-toolkit journey.
No install
Gated after entitlement. Catalogue, Parameters tab, then Run with my parameters.
Offline ZIP
Full worked-example tree for local Python 3.10+ with numpy / scipy. Start at START_HERE.md.
QR → same example
Printed Scan-for-code links land on ?example=WE-9.4 (and peers) after sign-in.
How access works
-
Buy Book + companion access (preferred), standalone playground if you already own the book, or proof-of-purchase unlock when offered. Checkout email = entitlement email.
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Receive access Confirmation email with order ID, link to the playground, and optional ZIP download. If the gate is empty after sync and hard-refresh, email fxoptions@rondanini.com with order ID + checkout email.
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Sign in & parametrise Open the playground, sign in, search by
WE-9.4or browse by chapter. Change inputs → Run with my parameters. Reset restores printed numbers. Changing inputs may fail “vs book” asserts — expected when exploring. -
Optional offline Download the ZIP, unzip, follow
USER_GUIDE.md, run locally.
Do I need Python installed?
No for the browser playground. Yes for the offline ZIP (Python 3.10+, numpy, scipy).
Can I change the numbers?
Yes — that is the default. Book values are starting defaults.
Is this live market data?
No. Examples are illustrative / educational. Validate before production use.
Support
Code / playground / number mismatches: fxoptions@rondanini.com. Book education questions: education@rondanini.com.
Companion Resources
.py or the full ZIP. rondanini.com/fxoptionsplayground. Product support: fxoptions@rondanini.com. Separate from FX Cash Products.
