323:. The stock price S will disappear if we subtract one equation from the other, thus enabling one to exploit a violation of put/call parity without the need to invest in the underlying stock. The subtraction done one way corresponds to a long-box spread; done the other way it yields a short box-spread. The pay-off for the long box-spread will be the difference between the two strike prices, and the profit will be the amount by which the discounted payoff exceeds the net premium. For parity, the profit should be zero. Otherwise, there is a certain profit to be had by creating either a long box-spread if the profit is positive or a short box-spread if the profit is negative.
2636:
31:
1419:, and had his spread liquidated entirely when this happened to one of its legs. (He had been exposed to as much as $ 212,500 in risk with the spread open.) Robinhood subsequently announced that investors on the platform would no longer be able to open box spreads, a policy that remains in place as of October 2022.
54:
constructed from puts (e.g., long a 60 put, short a 50 put) has a constant payoff of the difference in exercise prices (e.g. 10) assuming that the underlying stock does not go ex-dividend before the expiration of the options. If the underlying asset has a dividend of X, then the settled value of the
96:
of B is positive, or with all transactions reversed if the present value of B is negative. However, market forces tend to close any arbitrage windows which might open; hence the present value of B is usually insufficiently different from zero for transaction costs to be covered. This is considered
91:
operation may be represented as a sequence which begins with zero balance in an account, initiates transactions at time t = 0, and unwinds transactions at time t = T so that all that remains at the end is a balance whose value B will be known for certain at the beginning of the sequence. If there
1382:
for ten major countries and is approximately 35 basis points for
Treasuries, the most widely held government security. The difference between box spreads and government securities will tend to increase when there is financial instability, increase as interest rates rise, and increase for shorter
66:
Box spreads' name derives from the fact that the prices for the underlying options form a rectangular box in two columns of a quotation. An alternate name is "alligator spread," derived from the large number of trades required to open and close them "eating" one's profit via commission fees.
97:
typically to be a "Market Maker/ Floor trader" strategy only, due to extreme commission costs of the multiple-leg spread. If the box is for example 20 dollars as per lower example getting short the box anything under 20 is profit and long anything over, has hedged all risk .
1347:
The terminal payoff has a value of $ 20 independent of the terminal value of the share price. The discounted value of the payoff is $ 19.60. Hence there is a nominal profit of 30 cents to be had by investing in the long box-spread.
78:
is not allowed until the option's expiration. Most other styles of options, such as
American, are less suitable, because they may expose traders to unwanted risk if one or more "legs" of a spread are exercised prematurely.
739:
As an example, consider a three-month option on a stock whose current price is $ 100. If the interest rate is 8% per annum and the volatility is 30% per annum, then the prices for the options might be:
1378:, or similar investments in other countries' central banks, is a "convenience yield" for the ease of investment in the central bank's securities. This convenience yield is between 10 and 60
1367:
showed that between 1999 and 2000, some 25% of the trading volume was in outright options, 25% in straddles and vertical spreads (call-spreads and put-spreads), and about 5% in strangles.
326:
The long box-spread comprises four options, on the same underlying asset with the same terminal date. They can be paired in two ways as shown in the following table (assume strike-prices
965:
841:
The initial investment for a long box-spread would be $ 19.30. The following table displays the payoffs of the 4 options for the three ranges of values for the terminal stock price
1006:
911:
256:
151:
1319:
1285:
1230:
828:
1152:
1097:
1063:
786:
198:
1371:
constituted only about 0.1%, and box-spreads even less (about 0.01%). Ratio spreads took more than 15%, and about a dozen other instruments took the remaining 30%.
866:
706:
679:
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294:
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1118:
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2179:
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is a combination of positions that has a certain (i.e., riskless) payoff, considered to be simply "delta neutral interest rate position". For example, a
1490:
2519:
92:
were no transaction costs then a non-zero value for B would allow an arbitrageur to profit by following the sequence either as it stands if the
2209:
2341:
261:
Note that directly exploiting deviations from either of these two parity relations involves purchasing or selling the underlying stock.
1664:
Hemler, Michael L.; Miller, Thomas W. Jr. (1997). "Box spread arbitrage profits following the 1987 market crash: real or illusory?".
2077:
2579:
1747:
107:: The current price of a stock equals the current price of a futures contract discounted by the time remaining until settlement:
1698:. Post-market simulations with box-spreads on the S&P 500 Index show that market ineffiency increased after the 1987 crash.
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1375:
2514:
2159:
1711:
Ronn, Edud; Gerbarg Ronn, Aimee (1989). "The Box spread arbitrage conditions: theory, tests, and investment strategies".
1591:
Bharadwaj, Anu; Wiggins, James B. (2001). "Box spread and put-call parity tests for the S&P 500 index LEAPS market".
650:
We can obtain a third view of the long box-spread by reading the table diagonally. A long box-spread can be viewed as a
2554:
2092:
1946:
1740:
1357:
2173:
1532:
164:: A long European call c together with a short European put p at the same strike price K is equivalent to borrowing
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2351:
1508:
1464:
2455:
2266:
200:
and buying the stock at price S. In other words, we can combine options with cash to construct a synthetic stock:
2574:
2569:
1562:
Uri, Benzion; Shmuel, Danan; Joseph, Yagil (Spring 2005). "Box Spread
Strategies and Arbitrage Opportunities".
2224:
2169:
1407:, which provides commission-free options trading. The user, who initially asserted that " literally cannot go
1374:
Diamond and van Tassel found that the difference between the implied "risk free" rate through box spreads and
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971:
876:
207:
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2027:
1621:
Billingsley, R.S.; Chance, Don M. (1987). "Options market efficiency and the box spread strategy".
1404:
56:
1729:
The box-spread is used to test for arbitrage opportunities on
Chicago Board Options Exchange data.
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75:
1651:
Chaput, J. Scott; Ederington, Louis H. (January 2002). "Option spread and combination trading".
114:
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1202:
800:
100:
A present value of zero for B leads to a parity relation. Two well-known parity relations are:
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585:
39:
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329:
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2127:
2067:
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1981:
1966:
1883:
1863:
1408:
643:
159:
523:
Reading the table horizontally and vertically, we obtain two views of a long box-spread.
34:
Profit diagram of a box spread. It is a combination of positions with a riskless payoff.
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1994:
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717:
651:
93:
60:
59:
assumption, the net premium paid out to acquire this position should be equal to the
17:
2415:
2189:
2117:
2097:
2057:
1926:
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1888:
1830:
1617:
The box-spread reveals an arbitrage profit insufficient to cover transaction costs.
1412:
71:
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2135:
2131:
2082:
1873:
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1379:
51:
47:
50:
constructed from calls (e.g., long a 50 call, short a 60 call) combined with a
2620:
2256:
2251:
2017:
1903:
1361:
1810:
1604:
1575:
88:
2635:
1491:"Trader says he has 'no money at risk,' then promptly loses almost 2,000%"
2380:
2102:
1999:
1820:
1724:
269:
Now consider the put/call parity equation at two different strike prices
1685:
30:
1732:
1392:
527:
A long box-spread can be viewed as a long synthetic stock at a price
1677:
1400:
1736:
1450:"An Important Word of Caution on Short Box-Spread Trades!"
1465:"Risk-Free Rates and Convenience Yields Around the World"
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2145:
2008:
1917:
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1463:Diamond, William; Van Tassel, Peter (2023-02-01).
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1399:realized a loss of more than $ 57,000 on $ 5,000
554:plus a short synthetic stock at a higher price
1666:Journal of Financial and Quantitative Analysis
1472:Federal Reserve Bank of New York Staff Reports
1748:
1356:Surveys done by Chaput and Ederington on the
731:A short box-spread can be treated similarly.
8:
1704:Fundamentals of Futures and Options Markets
1785:
1755:
1741:
1733:
870:
742:
584:A long box-spread can be viewed as a long
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116:
70:Box spreads are usually only opened with
382:
29:
2580:Power reverse dual-currency note (PRDC)
2520:Constant proportion portfolio insurance
1509:"Advanced Options Strategies (Level 3)"
1440:
1415:he was using carried the risk of being
960:{\displaystyle K_{1}<S_{T}<K_{2}}
727:contains the two short (sell) options.
7:
2515:Collateralized debt obligation (CDO)
1448:Claussen, Steve (10 December 2010).
720:contains the two long (buy) options.
1489:Langlois, Shawn (22 January 2019).
1403:by attempting a box spread through
712:at the same pair of strike prices.
1635:10.1111/j.1540-6288.1985.tb00309.x
646:at the same pair of strike prices.
25:
1391:In January 2019, a member of the
2634:
1539:from the original on 2019-01-11
2342:Year-on-year inflation-indexed
1706:(4th ed.). Prentice-Hall.
1644:An Introduction to Derivatives
1533:"I don't know when to stop..."
1001:{\displaystyle K_{2}<S_{T}}
906:{\displaystyle S_{T}<K_{1}}
654:at one pair of strike prices,
588:at one pair of strike prices,
251:{\displaystyle c-p=S-Ke^{-rT}}
55:box will be 10 + x. Under the
1:
2352:Zero-coupon inflation-indexed
1411:," did not realize that the
2555:Foreign exchange derivative
1947:Callable bull/bear contract
1713:Review of Financial Studies
1358:Chicago Mercantile Exchange
2683:
1593:The Journal of Derivatives
1564:The Journal of Derivatives
146:{\displaystyle S=Fe^{-rT}}
2629:
2456:Stock market index future
1770:
1360:'s market for options on
1314:{\displaystyle 110-S_{T}}
1280:{\displaystyle 110-S_{T}}
1225:{\displaystyle 110-S_{T}}
968:
914:
873:
823:{\displaystyle K_{2}=110}
2575:Mortgage-backed security
2570:Interest rate derivative
2545:Equity-linked note (ELN)
2530:Credit-linked note (CLN)
1646:(5th ed.). Thomson.
1147:{\displaystyle S_{T}-90}
1092:{\displaystyle S_{T}-90}
1058:{\displaystyle S_{T}-90}
781:{\displaystyle K_{1}=90}
193:{\displaystyle Ke^{-rT}}
2525:Contract for difference
1826:Risk-free interest rate
1642:Chance, Don M. (2001).
1605:10.3905/jod.2001.319163
1576:10.3905/jod.2005.479379
27:Term in options trading
2307:Forward Rate Agreement
1702:Hull, John C. (2002).
1336:
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702:
675:
636:
609:
575:
548:
512:
483:
459:Short synthetic stock
449:
420:
388:Long bull call-spread
374:
347:
317:
290:
252:
194:
147:
35:
2535:Credit default option
1879:Employee stock option
1337:
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1227:
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1094:
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1003:
962:
908:
863:
861:{\displaystyle S_{T}}
825:
783:
703:
701:{\displaystyle K_{2}}
676:
674:{\displaystyle K_{1}}
637:
635:{\displaystyle K_{2}}
610:
608:{\displaystyle K_{1}}
576:
574:{\displaystyle K_{2}}
549:
547:{\displaystyle K_{1}}
513:
511:{\displaystyle K_{2}}
484:
482:{\displaystyle K_{2}}
450:
448:{\displaystyle K_{1}}
421:
419:{\displaystyle K_{1}}
396:Long synthetic stock
391:Long bear put-spread
375:
373:{\displaystyle K_{2}}
348:
346:{\displaystyle K_{1}}
318:
316:{\displaystyle K_{2}}
291:
289:{\displaystyle K_{1}}
253:
195:
148:
33:
2489:Inflation derivative
2474:Commodity derivative
2446:Single-stock futures
2436:Normal backwardation
2426:Interest rate future
2267:Conditional variance
1773:Derivative (finance)
1429:Jelly roll (options)
1326:
1292:
1258:
1237:
1203:
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466:
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357:
330:
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273:
208:
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115:
18:Box spread (options)
2641:Business portal
2494:Property derivative
105:Spot futures parity
2499:Weather derivative
2484:Freight derivative
2466:Exotic derivatives
2386:Commodities future
2073:Intermarket spread
1836:Synthetic position
1764:Derivatives market
1725:10.1093/rfs/2.1.91
1387:Robinhood incident
1332:
1311:
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1222:
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36:
2662:Options (finance)
2649:
2648:
2550:Equity derivative
2540:Credit derivative
2508:Other derivatives
2479:Energy derivative
2441:Perpetual futures
2322:Overnight indexed
2272:Constant maturity
2233:
2232:
2180:Finite difference
2113:Protective option
1535:11 January 2019.
1397:/r/WallStreetBets
1345:
1344:
1335:{\displaystyle 0}
1246:{\displaystyle 0}
1191:{\displaystyle 0}
1168:{\displaystyle 0}
1113:{\displaystyle 0}
1024:{\displaystyle 0}
839:
838:
521:
520:
16:(Redirected from
2674:
2639:
2638:
2411:Forwards pricing
2185:Garman–Kohlhagen
1786:
1757:
1750:
1743:
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1728:
1707:
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1623:Financial Review
1616:
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1413:American options
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586:bull call spread
580:
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72:European options
21:
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2645:
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2625:
2611:Great Recession
2606:Government debt
2584:
2560:Fund derivative
2503:
2460:
2421:Futures pricing
2396:Dividend future
2391:Currency future
2374:
2356:
2229:
2205:Put–call parity
2141:
2128:Vertical spread
2063:Diagonal spread
2033:Calendar spread
2004:
1913:
1850:
1775:
1766:
1761:
1710:
1701:
1678:10.2307/2331317
1663:
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1561:
1558:
1556:Further reading
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688:
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682:
661:
656:
655:
644:bear put spread
622:
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259:
232:
206:
205:
174:
166:
165:
160:Put call parity
154:
127:
113:
112:
85:
63:of the payoff.
28:
23:
22:
15:
12:
11:
5:
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2647:
2646:
2644:
2643:
2630:
2627:
2626:
2624:
2623:
2618:
2616:Municipal debt
2613:
2608:
2603:
2601:Corporate debt
2598:
2592:
2590:
2586:
2585:
2583:
2582:
2577:
2572:
2567:
2562:
2557:
2552:
2547:
2542:
2537:
2532:
2527:
2522:
2517:
2511:
2509:
2505:
2504:
2502:
2501:
2496:
2491:
2486:
2481:
2476:
2470:
2468:
2462:
2461:
2459:
2458:
2453:
2448:
2443:
2438:
2433:
2428:
2423:
2418:
2413:
2408:
2403:
2401:Forward market
2398:
2393:
2388:
2383:
2377:
2375:
2373:
2372:
2367:
2361:
2358:
2357:
2355:
2354:
2349:
2344:
2339:
2334:
2329:
2324:
2319:
2314:
2309:
2304:
2299:
2294:
2289:
2284:
2282:Credit default
2279:
2274:
2269:
2264:
2259:
2254:
2249:
2243:
2241:
2235:
2234:
2231:
2230:
2228:
2227:
2222:
2217:
2212:
2207:
2202:
2197:
2192:
2187:
2182:
2177:
2167:
2162:
2157:
2151:
2149:
2143:
2142:
2140:
2139:
2125:
2120:
2115:
2110:
2105:
2100:
2095:
2090:
2085:
2080:
2078:Iron butterfly
2075:
2070:
2065:
2060:
2055:
2050:
2048:Covered option
2045:
2040:
2035:
2030:
2025:
2020:
2014:
2012:
2006:
2005:
2003:
2002:
1997:
1992:
1987:
1986:Mountain range
1984:
1979:
1974:
1969:
1964:
1959:
1954:
1949:
1944:
1939:
1934:
1929:
1923:
1921:
1915:
1914:
1912:
1911:
1906:
1901:
1896:
1891:
1886:
1881:
1876:
1871:
1866:
1860:
1858:
1852:
1851:
1849:
1848:
1843:
1838:
1833:
1828:
1823:
1818:
1813:
1808:
1803:
1798:
1792:
1790:
1783:
1777:
1776:
1771:
1768:
1767:
1762:
1760:
1759:
1752:
1745:
1737:
1731:
1730:
1708:
1699:
1661:
1648:
1639:
1629:(4): 287–301.
1618:
1588:
1557:
1554:
1551:
1550:
1524:
1500:
1481:
1455:
1439:
1438:
1436:
1433:
1432:
1431:
1424:
1421:
1388:
1385:
1353:
1350:
1343:
1342:
1331:
1321:
1308:
1304:
1300:
1297:
1287:
1274:
1270:
1266:
1263:
1253:
1242:
1232:
1219:
1215:
1211:
1208:
1198:
1187:
1176:
1175:
1164:
1154:
1143:
1140:
1135:
1131:
1120:
1109:
1099:
1088:
1085:
1080:
1076:
1065:
1054:
1051:
1046:
1042:
1031:
1020:
1009:
1008:
995:
991:
987:
982:
978:
967:
954:
950:
946:
941:
937:
933:
928:
924:
913:
900:
896:
892:
887:
883:
855:
851:
837:
836:
833:
830:
819:
816:
811:
807:
795:
794:
791:
788:
777:
774:
769:
765:
753:
752:
749:
746:
736:
733:
729:
728:
725:short strangle
721:
710:short strangle
695:
691:
668:
664:
648:
647:
642:, plus a long
629:
625:
602:
598:
582:
568:
564:
541:
537:
519:
518:
505:
501:
489:
476:
472:
460:
456:
455:
442:
438:
426:
413:
409:
397:
393:
392:
389:
386:
367:
363:
340:
336:
310:
306:
283:
279:
266:
265:The box spread
263:
245:
242:
239:
235:
231:
228:
225:
222:
219:
216:
213:
203:
202:
201:
187:
184:
181:
177:
173:
140:
137:
134:
130:
126:
123:
120:
110:
109:
108:
84:
81:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
2679:
2668:
2665:
2663:
2660:
2659:
2657:
2642:
2637:
2632:
2631:
2628:
2622:
2619:
2617:
2614:
2612:
2609:
2607:
2604:
2602:
2599:
2597:
2596:Consumer debt
2594:
2593:
2591:
2589:Market issues
2587:
2581:
2578:
2576:
2573:
2571:
2568:
2566:
2565:Fund of funds
2563:
2561:
2558:
2556:
2553:
2551:
2548:
2546:
2543:
2541:
2538:
2536:
2533:
2531:
2528:
2526:
2523:
2521:
2518:
2516:
2513:
2512:
2510:
2506:
2500:
2497:
2495:
2492:
2490:
2487:
2485:
2482:
2480:
2477:
2475:
2472:
2471:
2469:
2467:
2463:
2457:
2454:
2452:
2449:
2447:
2444:
2442:
2439:
2437:
2434:
2432:
2429:
2427:
2424:
2422:
2419:
2417:
2414:
2412:
2409:
2407:
2406:Forward price
2404:
2402:
2399:
2397:
2394:
2392:
2389:
2387:
2384:
2382:
2379:
2378:
2376:
2371:
2368:
2366:
2363:
2362:
2359:
2353:
2350:
2348:
2345:
2343:
2340:
2338:
2335:
2333:
2330:
2328:
2325:
2323:
2320:
2318:
2317:Interest rate
2315:
2313:
2310:
2308:
2305:
2303:
2300:
2298:
2295:
2293:
2290:
2288:
2285:
2283:
2280:
2278:
2275:
2273:
2270:
2268:
2265:
2263:
2260:
2258:
2255:
2253:
2250:
2248:
2245:
2244:
2242:
2240:
2236:
2226:
2223:
2221:
2218:
2216:
2213:
2211:
2210:MC Simulation
2208:
2206:
2203:
2201:
2198:
2196:
2193:
2191:
2188:
2186:
2183:
2181:
2178:
2175:
2171:
2170:Black–Scholes
2168:
2166:
2163:
2161:
2158:
2156:
2153:
2152:
2150:
2148:
2144:
2137:
2133:
2129:
2126:
2124:
2123:Risk reversal
2121:
2119:
2116:
2114:
2111:
2109:
2106:
2104:
2101:
2099:
2096:
2094:
2091:
2089:
2086:
2084:
2081:
2079:
2076:
2074:
2071:
2069:
2066:
2064:
2061:
2059:
2056:
2054:
2053:Credit spread
2051:
2049:
2046:
2044:
2041:
2039:
2036:
2034:
2031:
2029:
2026:
2024:
2021:
2019:
2016:
2015:
2013:
2011:
2007:
2001:
1998:
1996:
1993:
1991:
1988:
1985:
1983:
1980:
1978:
1977:Interest rate
1975:
1973:
1972:Forward start
1970:
1968:
1965:
1963:
1960:
1958:
1955:
1953:
1950:
1948:
1945:
1943:
1940:
1938:
1935:
1933:
1930:
1928:
1925:
1924:
1922:
1920:
1916:
1910:
1907:
1905:
1902:
1900:
1899:Option styles
1897:
1895:
1892:
1890:
1887:
1885:
1882:
1880:
1877:
1875:
1872:
1870:
1867:
1865:
1862:
1861:
1859:
1857:
1853:
1847:
1844:
1842:
1839:
1837:
1834:
1832:
1829:
1827:
1824:
1822:
1819:
1817:
1816:Open interest
1814:
1812:
1809:
1807:
1804:
1802:
1799:
1797:
1796:Delta neutral
1794:
1793:
1791:
1787:
1784:
1782:
1778:
1774:
1769:
1765:
1758:
1753:
1751:
1746:
1744:
1739:
1738:
1735:
1726:
1722:
1719:(1): 91–108.
1718:
1714:
1709:
1705:
1700:
1695:
1691:
1687:
1683:
1679:
1675:
1671:
1667:
1662:
1658:
1654:
1649:
1645:
1640:
1636:
1632:
1628:
1624:
1619:
1614:
1610:
1606:
1602:
1598:
1594:
1589:
1585:
1581:
1577:
1573:
1569:
1565:
1560:
1559:
1555:
1538:
1534:
1528:
1525:
1514:
1510:
1504:
1501:
1496:
1492:
1485:
1482:
1477:
1473:
1466:
1459:
1456:
1451:
1444:
1441:
1434:
1430:
1427:
1426:
1422:
1420:
1418:
1414:
1410:
1406:
1402:
1398:
1394:
1386:
1384:
1381:
1377:
1372:
1370:
1366:
1363:
1359:
1351:
1349:
1329:
1322:
1306:
1302:
1298:
1295:
1288:
1272:
1268:
1264:
1261:
1254:
1240:
1233:
1217:
1213:
1209:
1206:
1199:
1185:
1178:
1177:
1162:
1155:
1141:
1138:
1133:
1129:
1121:
1107:
1100:
1086:
1083:
1078:
1074:
1066:
1052:
1049:
1044:
1040:
1032:
1018:
1011:
1010:
993:
989:
985:
980:
976:
952:
948:
944:
939:
935:
931:
926:
922:
898:
894:
890:
885:
881:
872:
869:
853:
849:
834:
831:
817:
814:
809:
805:
797:
796:
792:
789:
775:
772:
767:
763:
755:
754:
750:
747:
745:
744:
741:
734:
732:
726:
722:
719:
718:long strangle
715:
714:
713:
711:
693:
689:
666:
662:
653:
652:long strangle
645:
627:
623:
600:
596:
587:
583:
566:
562:
539:
535:
526:
525:
524:
503:
499:
490:
474:
470:
462:Sell call at
461:
458:
457:
440:
436:
427:
411:
407:
398:
395:
394:
390:
387:
385:
384:
381:
365:
361:
338:
334:
324:
308:
304:
281:
277:
264:
262:
258:
243:
240:
237:
233:
229:
226:
223:
220:
217:
214:
211:
185:
182:
179:
175:
171:
163:
162:
161:
156:
155:
153:
138:
135:
132:
128:
124:
121:
118:
106:
103:
102:
101:
98:
95:
94:present value
90:
82:
80:
77:
73:
68:
64:
62:
61:present value
58:
53:
49:
45:
41:
32:
19:
2667:Stock market
2416:Forward rate
2327:Total return
2215:Real options
2118:Ratio spread
2098:Naked option
2058:Debit spread
1889:Fixed income
1831:Strike price
1716:
1712:
1703:
1672:(1): 71–90.
1669:
1665:
1643:
1626:
1622:
1599:(4): 62–71.
1596:
1592:
1570:(3): 47–62.
1567:
1563:
1541:. Retrieved
1527:
1516:. Retrieved
1512:
1503:
1494:
1484:
1475:
1471:
1458:
1443:
1390:
1383:maturities.
1380:basis points
1373:
1355:
1346:
840:
738:
730:
649:
522:
428:Sell put at
399:Buy call at
325:
268:
260:
204:
158:
157:
111:
104:
99:
86:
69:
65:
57:no-arbitrage
43:
37:
2347:Zero Coupon
2277:Correlation
2225:Vanna–Volga
2083:Iron condor
1869:Bond option
1495:MarketWatch
491:Buy put at
52:bear spread
48:bull spread
42:trading, a
2656:Categories
2621:Tax policy
2337:Volatility
2247:Amortising
2088:Jelly roll
2023:Box spread
2018:Backspread
2010:Strategies
1846:Volatility
1841:the Greeks
1806:Expiration
1543:8 February
1518:2022-04-21
1435:References
1395:community
1376:Treasuries
1362:Eurodollar
1352:Prevalence
83:Background
44:box spread
2312:Inflation
2262:Commodity
2220:Trinomial
2155:Bachelier
2147:Valuation
2028:Butterfly
1962:Commodore
1811:Moneyness
1694:154839868
1613:154906523
1584:154340695
1513:Robinhood
1452:. Nasdaq.
1417:exercised
1405:Robinhood
1401:principal
1299:−
1265:−
1210:−
1139:−
1084:−
1050:−
793:$ 1.65
708:, plus a
238:−
227:−
215:−
180:−
133:−
89:arbitrage
2451:Slippage
2381:Contango
2365:Forwards
2332:Variance
2292:Dividend
2287:Currency
2200:Margrabe
2195:Lattices
2174:equation
2160:Binomial
2108:Strangle
2103:Straddle
2000:Swaption
1982:Lookback
1967:Compound
1909:Warrants
1884:European
1864:American
1856:Vanillas
1821:Pin risk
1801:Exercise
1537:Archived
1423:See also
835:$ 10.90
76:exercise
74:, whose
2370:Futures
1990:Rainbow
1957:Cliquet
1952:Chooser
1932:Barrier
1919:Exotics
1781:Options
1686:2331317
1409:tits up
1365:futures
790:$ 13.10
735:Example
40:options
2431:Margin
2297:Equity
2190:Heston
2093:Ladder
2043:Condor
2038:Collar
1995:Spread
1942:Binary
1937:Basket
1692:
1684:
1657:296036
1655:
1611:
1582:
1393:Reddit
832:$ 3.05
2302:Forex
2257:Basis
2252:Asset
2239:Swaps
2165:Black
2068:Fence
1927:Asian
1789:Terms
1690:S2CID
1682:JSTOR
1609:S2CID
1580:S2CID
1468:(PDF)
748:Call
353:<
2136:Bull
2132:Bear
1874:Call
1653:SSRN
1545:2021
1476:1032
1369:Guts
986:<
945:<
932:<
891:<
751:Put
723:The
716:The
681:and
615:and
296:and
1904:Put
1721:doi
1674:doi
1631:doi
1601:doi
1572:doi
1296:110
1262:110
1207:110
818:110
380:):
87:An
38:In
2658::
2134:,
1894:FX
1715:.
1688:.
1680:.
1670:32
1668:.
1627:20
1625:.
1607:.
1595:.
1578:.
1568:12
1566:.
1511:.
1493:.
1474:.
1470:.
1142:90
1087:90
1053:90
868::
776:90
2176:)
2172:(
2138:)
2130:(
1756:e
1749:t
1742:v
1727:.
1723::
1717:2
1696:.
1676::
1659:.
1637:.
1633::
1615:.
1603::
1597:8
1586:.
1574::
1547:.
1521:.
1497:.
1478:.
1330:0
1307:T
1303:S
1273:T
1269:S
1241:0
1218:T
1214:S
1186:0
1163:0
1134:T
1130:S
1108:0
1079:T
1075:S
1045:T
1041:S
1019:0
994:T
990:S
981:2
977:K
953:2
949:K
940:T
936:S
927:1
923:K
899:1
895:K
886:T
882:S
854:T
850:S
815:=
810:2
806:K
773:=
768:1
764:K
694:2
690:K
667:1
663:K
628:2
624:K
601:1
597:K
581:.
567:2
563:K
540:1
536:K
504:2
500:K
475:2
471:K
441:1
437:K
412:1
408:K
366:2
362:K
339:1
335:K
309:2
305:K
282:1
278:K
244:T
241:r
234:e
230:K
224:S
221:=
218:p
212:c
186:T
183:r
176:e
172:K
139:T
136:r
129:e
125:F
122:=
119:S
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
