Chapter23OptionContracts(投资与投资组合管理)详解.ppt

Lecture Presentation Software to accompanyInvestment Analysis and Portfolio ManagementSeventh Editionby Frank K. Reilly Keith C. Brown Chapter 23Option Contracts Questions to be answered: How are options traded on exchanges and in OTC markets? How are options for stock, stock indexes, foreign currency, and futures contracts quoted in the financial press? How can investors use option contracts to hedge an existing risk exposure? Chapter 23Option Contracts What are the three steps in establishing the fundamental “no arbitrage” value of an option contract? What is the binomial (or two-st