1二项树定价模型(国外英语资料).docVIP

1二项树定价模型(国外英语资料) The fifth chapter is the two item tree pricing model In this chapter, we discuss the two tree pricing model of options and futures, which provides a simple but powerful method for understanding the pricing and hedging of derivative securities. So far, there are three different options pricing models. The first model was created by Black and Scholes (1973). No friction, in the market can be continuous trading under the assumption that the stock held by the long positions, and to hold European option stock for the subject of the short positions, the formation of a risk free port