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A. Caggia, M. Armanini Financial Investments & Pricing 2015/2016

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Presentation on theme: "A. Caggia, M. Armanini Financial Investments & Pricing 2015/2016"— Presentation transcript:

1 A. Caggia, M. Armanini Financial Investments & Pricing 2015/2016
Options A. Caggia, M. Armanini Financial Investments & Pricing 2015/2016

2 Key terminology Right but not obligation Terms Call: right to buy
Put: right to sell Strike price or excercise price Premium: cost of the option Expiration date American option European option

3 Bloomberg quotes

4 Payoff at expiration: Call option holder
Right to buy at price K Call Value 45° S K S1 Stock price

5 Payoff at expiration: Put option holder
Right to sell at price K Put Value 45° S K S1 Stock price

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