CF2 Ch 08 Financial Options and Their Valuation 公司财务与金融 课件.pptVIP

Chapter 8 Financial Options and Their Valuation Topics Financial Options Terminology Option Price Relationships Black-Scholes Option Pricing Model Put-Call Parity What is a financial option? An option is a contract which gives its holder the right, but not the obligation, to buy (or sell) an asset at some predetermined price within a specified period of time. What is the single most importantcharacteristic of an option? It does not obligate its owner to take any action. It merely gives the owner the right to buy or sell an asset. Option Terminology Call option: An option to buy a specified