基本没有套利对选择价格限制（英）.pptVIP

Lecture # 6: Basic No Arbitrage Restrictions on Options Prices * Some Option Contracts in Hong Kong HIS Options Options Covered Warrants Contract size Price quote Strike price Tick size ? ? ? ? 50 index units 1 index unit 50 index points (index2000) 100 index pts (2000?index?8000) 200 index pts (index 8000) 400 shares 1 share $2 ($20?shareprice$50) $5 ($50?shareprice$200) $10 (200?share price 300) No preset formula 1/10 shares No preset formula * HIS Options Options Covered Warrants Maturity cycle ? Maturity day ?Style Settlement Exchange Trading Method Trading Hours Current next m