efficient variance reduction, Financial Management

Assignment Help:

Assume we are in the midst of the financial crisis in October 2008. Your firm is considering the purchase of a 10 year put option on the S&P 500 Index. You are analyzing the pricing of this option and you would like to incorporate dissimilar deterministic assumptions for the volatility, the interest rate and the dividend yield for each future year. Let us use the following notation:

1569_44.png

 

A) Describe how you would use market data to estimate the future interest rates, future Index volatilities and dividend yields. Describe how to use Monte Carlo simulation to estimate the price of this option. Assume the initial index level is S0 and the strike
price is  K. Assume you are writing the instructions for a programmer  who wil implement the program.

B) Explain in detail an efficient variance reduction technique to improve the efficiency of the algorithm.  
 
C) Explain carefully how you could numerically estimate the delta of this put option.

 


Related Discussions:- efficient variance reduction

Calculate the new interest rate and excel function pv, Continuing growth of...

Continuing growth of the company has required that we issue the company''s corporate debt soon. As you know, in 6 months we plan to issue $10 million worth of 20-year corporate bon

State the factors of small organisations, State the factors of Small organi...

State the factors of Small organisations - More creative and dynamic - More flexible to adapt to environmental changes - More informal and small for example some people l

Activity-based budgeting - abb, It is a method of budgeting in which the ac...

It is a method of budgeting in which the actions that incur costs in every functional area of a company are recorded and their relationships are defined and evaluated. Activities a

Define a convertible bond, Define a Convertible Bond A convertible bond...

Define a Convertible Bond A convertible bond issue permits the investor to exchange the bond for a pre-defined number of equity shares of the issuer.  The convertible bond’s fl

Show the difference between revenues and costs, • Sales revenue line drawn ...

• Sales revenue line drawn and labelled correctly and accurately • Fixed cost line (at $1,020) labelled and drawn accurately and correctly • Total costs line (starting at $1,

Evaluate the income statement, 2010 equity balance required: (600-20 - 2...

2010 equity balance required: (600-20 - 25 - 15 - 20)= 520 employees eligible Total expected equivalent value = 520 x 500 options x $1.48 = $384,800 $384,800 x 3/4 years = $28

Financial management assignment, You have just had your 30 th birthday. Yo...

You have just had your 30 th birthday. You have two children. One will go to college 12 years from now and require four yearly payments for college expenses of RM11,000, RM12,000

What are financial markets, What are financial markets? Why do they exist? ...

What are financial markets? Why do they exist? Ans: Financial markets are in which financial securities are bought and sold.  They be present primarily to bring deficit economi

Longer-term bonds and short-term bonds, Questions How is a bond like...

Questions How is a bond like a loan?                                               How does an investor receive a return from buying a bond?  Does a bond's yield to ma

Application of concept of tvm, Q. Application of concept of TVM Sometim...

Q. Application of concept of TVM Sometime the financial manager has to deal with the varying situation of the decision making where the concept of TVM needs to be applied in th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd