This book was selected the Best New Quant Book in 2006 by Wilmott, a leading journal in quantitative finance. The book is a detailed look at some groundbreaking ideas in the world of stochastic volatility. Javaheri, now a quant with Goldman Sachs, uses a classic approach to evaluating volatility - namely, time series and financial econometrics - in a way that he believes is superior to methods presently used by market participants. He also suggests that there be "skewness" trading opportunities that can be used to trade the market more profitably. An essential read for active investors and hedge funds involved in the options markets. . . .