This great "how to" book covers the various mechanics of natural gas trading, including the physical (cash) market for natural gas production, transportation, distribution, and consumption. The heart of the text is the definition and demonstration of financial trading tools and techniques. It closes with discussion of more complex structures of trading and the author's philosophy on how a risk management department should function within a natural gas trading company.
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About the Author
letcher J. Sturm is a coordinator of derivatives trading for Pro-Energy Marketing in Houston and has served as senior trader of natural gas derivatives for NationsBanc and Enron Capital and Trade. In addition to the trading duties of these positions, he has also educated marketers on fundamentals and technical trading aspects, including seminars on complex derivative transactions.
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Most Helpful Customer Reviews
47 of 51 people found the following review helpful:
5.0 out of 5 stars
Excellent Resource for Natural Gas Traders,
By mmarino@jettapc.com (Fort Worth, Texas) - See all my reviews
This review is from: Trading Natural Gas: Cash, Futures, Options and Swaps (Hardcover)
Was very pleased with the material contained in this book. Although I am a beginner in the natural gas trading field, I found Sturm's book both easy to understand yet challenging in its scope. A great deal of emphasis is placed upon various hedging techniques and many helpful diagrams are included to portray the trading flow. Overall a very unique and insightful book for beginners and for those with years of experience in trading natural gas.
11 of 11 people found the following review helpful:
5.0 out of 5 stars
educational sources for practical trading purposes,
By Michael Ding (ding@abriafunds.com) - See all my reviews
This review is from: Trading Natural Gas: Cash, Futures, Options and Swaps (Hardcover)
I have not seen any book that describes its domain with such generous detail and is geared for real life trading. The contents may not be enough for those who trade only financial energy instruments, but it is indeed a good course material for the market makers, and hedgers, namely end users and producers. I highly recommend this book to those who are involved in natural gas industry.
5 of 5 people found the following review helpful:
5.0 out of 5 stars
A Great Book to Learn Natural Gas Trading,
By jgalt "this_is_jgalt_speaking" (Indianapolis, IN United States) - See all my reviews
This review is from: Trading Natural Gas: Cash, Futures, Options and Swaps (Hardcover)
Even if you do not have a solid understanding of derivatives, this book is really good explaining step by step how the different derivatives are used for hedging natural gas; regardless if you are the producer, trader, or end user. The author gives many examples of how each derivative works. I highly recommend this book if you are starting out as a junior trader, risk products trader, supply planner, etc.
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Inside This Book
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First Sentence:
The natural gas industry is a dynamic, complex, and exciting place to be at the current time. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
futures contract delivery point, actual basis differential, swing swap, index related price, swap call option, firm transportation capacity, paying posted price, effective sale price, basis swap, actual futures contracts, physical gas, futures swap position, index swap, effective purchase price, liquidation risk, floating price, physical natural gas, natural gas futures contract, effective sales price, swap differential, nearby futures contract, futures settlement prices, gas futures contracts, trigger sale, assume the trader Key Phrases - Capitalized Phrases (CAPs): (learn more)
Transco Zone, Henry Hub, United States, Contracts Futures Exchanged, Hedging Trigger Sale, Index Index, Supply Broker Figure, Alternate Delivery Location, Floating Nearby Futures Price, North America, West Texas, Gulf of Mexico, April Permian, November Chicago, Original Long, Permian Trader Supplier, Selling Physical Swing Options, Hedging Fixed-Price Purchase, Hedging Fixed-Price Sale, Houston Ship Channel, One Location Priced, Permian Trigger Market Physical Trader Supplier, Physical Index Gas Sale, San Juan New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
The natural gas industry is a dynamic, complex, and exciting place to be at the current time. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
futures contract delivery point, actual basis differential, swing swap, index related price, swap call option, firm transportation capacity, paying posted price, effective sale price, basis swap, actual futures contracts, physical gas, futures swap position, index swap, effective purchase price, liquidation risk, floating price, physical natural gas, natural gas futures contract, effective sales price, swap differential, nearby futures contract, futures settlement prices, gas futures contracts, trigger sale, assume the trader Key Phrases - Capitalized Phrases (CAPs): (learn more)
Transco Zone, Henry Hub, United States, Contracts Futures Exchanged, Hedging Trigger Sale, Index Index, Supply Broker Figure, Alternate Delivery Location, Floating Nearby Futures Price, North America, West Texas, Gulf of Mexico, April Permian, November Chicago, Original Long, Permian Trader Supplier, Selling Physical Swing Options, Hedging Fixed-Price Purchase, Hedging Fixed-Price Sale, Houston Ship Channel, One Location Priced, Permian Trigger Market Physical Trader Supplier, Physical Index Gas Sale, San Juan New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 1
book:
2
books
cite this book:
- Expiration Date by Justin Curfman on page 36
- A Practical Guide to Gas Contracting by Ann O'Hara on page 402
- Managing Energy Risk: A Nontechnical Guide to Markets and Trading by John Wengler in Back Matter
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