金融代写|金融衍生品代写Financial derivatives代考|FM360

Doug I. Jones

Doug I. Jones

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如果你也在 怎样代写金融衍生品Financial Derivatives 这个学科遇到相关的难题,请随时右上角联系我们的24/7代写客服。金融衍生品Financial Derivatives对于广大公众来说,长期以来一直是所有金融工具中最神秘、最不为人所知的。虽然一些金融衍生品相当简单,但不可否认的是,其他衍生品相当复杂,需要大量的数学和统计知识才能完全理解。

金融衍生品Financial Derivatives通常被视为过于复杂而难以理解的金融工具,个人投资者往往会回避。与此同时,市场专业人士指出,金融衍生品交易目前约占整个另类资产市场的40%。

couryes-lab™ 为您的留学生涯保驾护航 在代写金融衍生品Financial derivatives方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写金融衍生品Financial derivatives代写方面经验极为丰富,各种代写金融衍生品Financial derivatives相关的作业也就用不着说。

金融代写|金融衍生品代写Financial derivatives代考|FM360

金融代写|金融衍生品代写Financial derivatives代考|STOCK OPTIONS

Stock options represent risk management tools for individual company investments. As risk management tools, stock options typically are traded most actively when firm risk is high. It is unusual, for instance, to see stock options on utility companies, whose regulated status makes for largely predictable returns. Stock option trading flourishes in companies engaged in technology development, biotechnology and other higher-risk ventures. Where uncertainty reigns, stock options can serve to mitigate the risk of stock investing. Indeed, as the idiosyncratic risk of individual stocks has been increasing over time, growth in stock option trading has expanded concurrently.

Options on individual stocks are, in fact, some of the most popular of the equity derivatives. Stock option trading volume, although driven by volatility, is tempered by liquidity considerations. Indeed, liquidity was identified as the greatest challenge for institutional investors during 2008, particularly for options on small-capitalization stocks.

Technology, however, is playing an increasingly central role in providing liquidity sources to options trading. Liquidity in equity options markets is accessed across a variety of venues, including directly from traders on an organized exchange, through over-the-counter (OTC) option contracts, through direct access via electronic market platforms, and through smart order routers that can access many of these venues automatically. As a result, sell-side institutions continue to design more complex and functional electronic systems that allow for greater access to and aggregation of liquidity.

The complexity of stock option pricing slowed the development of electronic trading in these markets. While Nasdaq pioneered electronic equity trading starting in the early 1970s, it was not until 2000 when the electronic International Securities Exchange (ISE) brought serious electronic competition to options trading. Since 2000, the ISE has captured a significant market share in U.S. stock option trading. Just as Nasdaq has grown to trade more than 2 billion shares per day electronically, by 2010 approximately two-thirds of all stock option trading will be done electronically as well.

The mechanics of options contracts are quite simple. Option contracts involve both a buyer and a writer. The buyer buys a form of insurance and the writer provides the insurance and is obligated by the terms of the contract. The buyer pays a premium to the writer at the beginning of the contract. The writer is then obligated to buy or sell the stock to the option buyer at a specified price during the length of the contract. Options traded on exchanges have rules requiring the writers of these contracts to show they can honor their contracts on a daily basis. Since the buyer pays the entire premium up front for these option contracts, there is no need to ensure the buyer can pay.

An American option allows the buyer of an option to buy or sell the stock on or before the exercise date. A European option allows the buyer of an option to buy or sell the stock only on the exercise date. As a result, an American option with all other terms equal is worth at least as much as a European option.

金融代写|金融衍生品代写Financial derivatives代考|Call Options

Stock option prices are affected by six variables: the stock price, the exercise price of the option, the time to expiration, the risk-free rate, the volatility and expected dividends during the life of the option. If the price of a stock rises, the value of a call option rises. Specifically, the value of a call option on the expiration date is
V(\text { call })=\max (0, S-X)
where $\quad V($ call $)=$ value of the call
$S=$ stock price on the expiration date
$X=$ exercise price on the expiration date
If the price of a stock rises, the value of a call option rises. The call option provides protection from an increase in the value of the asset. If the exercise price is lower, the value of the call option is higher.

In addition to the stock price and the exercise price, the value of a call option is affected by the time to expiration, the volatility of the stock, the risk-free rate of interest, and the expected dividend of the stock. The value of a call option rises if the risk-free interest rate increases and all other factors remain unchanged. The impact of time affects American options differently from European options. An increase in time to expiration increases the value of all American options (puts and calls). Investors can choose to exercise their option among more time periods, encompassing more states of the economy. As a result, the value of an American option rises with an increase in the time to expiration.

Since a European option can be exercised only on the expiration date, increasing the time to expiration may not increase European call values. Another factor affecting the value of a stock option is the dividend. Since dividends reduce the value of a stock, larger dividends reduce call values.
Put Options
The value of a put option on the expiration date is
V(\text { put })=\max (0, X-S)
where $\quad V(p u t)=$ value of the put
$S=$ stock price on the expiration date
$X=$ exercise price
The value of a put option increases as the value of a stock decreases. A put option provides protection from a decrease in the price of an asset. Like call, put options increase in value with an increase in volatility and an increase in the time to expiration (for American options). A put option decreases in value as the risk-free interest rate in the economy rises (opposite of the call option). The impact of the value of dividends distributed during the life of a put option is opposite the impact of a call option since dividends reduce stock prices.

Two commonly used models for pricing options prior to expiration are the binomial model and the Black-Scholes model. These models can be used to demonstrate that options prices are very sensitive to volatility levels and where volatility is a concern options can be used for effective hedging.

金融代写|金融衍生品代写Financial derivatives代考|FM360


金融代写|金融衍生品代写Financial derivatives代考|STOCK OPTIONS







金融代写|金融衍生品代写Financial derivatives代考|Call Options

V(\text { call })=\max (0, S-X)
哪里有$\quad V($呼叫$)=$呼叫值


V(\text { put })=\max (0, X-S)
哪里$\quad V(p u t)=$看跌期权的价值


统计代写请认准statistics-lab™. statistics-lab™为您的留学生涯保驾护航。







术语 广义线性模型(GLM)通常是指给定连续和/或分类预测因素的连续响应变量的常规线性回归模型。它包括多元线性回归,以及方差分析和方差分析(仅含固定效应)。



有限元是一种通用的数值方法,用于解决两个或三个空间变量的偏微分方程(即一些边界值问题)。为了解决一个问题,有限元将一个大系统细分为更小、更简单的部分,称为有限元。这是通过在空间维度上的特定空间离散化来实现的,它是通过构建对象的网格来实现的:用于求解的数值域,它有有限数量的点。边界值问题的有限元方法表述最终导致一个代数方程组。该方法在域上对未知函数进行逼近。[1] 然后将模拟这些有限元的简单方程组合成一个更大的方程系统,以模拟整个问题。然后,有限元通过变化微积分使相关的误差函数最小化来逼近一个解决方案。





随机过程,是依赖于参数的一组随机变量的全体,参数通常是时间。 随机变量是随机现象的数量表现,其时间序列是一组按照时间发生先后顺序进行排列的数据点序列。通常一组时间序列的时间间隔为一恒定值(如1秒,5分钟,12小时,7天,1年),因此时间序列可以作为离散时间数据进行分析处理。研究时间序列数据的意义在于现实中,往往需要研究某个事物其随时间发展变化的规律。这就需要通过研究该事物过去发展的历史记录,以得到其自身发展的规律。


多元回归分析渐进(Multiple Regression Analysis Asymptotics)属于计量经济学领域,主要是一种数学上的统计分析方法,可以分析复杂情况下各影响因素的数学关系,在自然科学、社会和经济学等多个领域内应用广泛。


MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中,其中问题和解决方案以熟悉的数学符号表示。典型用途包括:数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发,包括图形用户界面构建MATLAB 是一个交互式系统,其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题,尤其是那些具有矩阵和向量公式的问题,而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问,这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展,得到了许多用户的投入。在大学环境中,它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域,MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要,工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数(M 文件)的综合集合,可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。


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