Forward start option and a chooser option, Financial Management

Assignment Help:

When a company commits (implicitly or explicitly) to granting at-the-money options to employees in the future then we can view them as a forward start options.

a) Explain the difference between a forward start option and a chooser option.

b) Describe carefully how the chooser options work and what the payoff of a simple chooser option is at the time, t1, when some choice is made.

Explain what the variable T2, t1, and X represents in the formula given during classes for a chooser option.

c) Calculate the value of a simple chooser option with a time to expiration of 7 months and time to choose between a put or call equal to three months. The underlying stock price is 54, the strike is 54, the risk free interest rate is 8.3% (CONT) per annum, and the volatility per annum is 27%.

d) Use the put-call parity for vanilla European option to show that a chooser option is a package consisting a call option (specify the strike price and the maturity) and put options (specify the number of puts, strike price and maturity).

e) Use the result in bullet point d) to prove the formula given during classes.

 


Related Discussions:- Forward start option and a chooser option

NPV, 2.5. Västerås Corporation plans to buy a truck for $40,000 and depreci...

2.5. Västerås Corporation plans to buy a truck for $40,000 and depreciate it fully over 5 years using straight-line method of depreciation. However, it plans to use it for 8 years

Average standard hook cycle - indirect cost, Following is the information f...

Following is the information furnished by a private port for investing Rs. 10 crore in a 20 Tonne Gantry Crane. The entire funding is from a loan carrying an interest of 11%. The l

Inflated budgeted expense account, Write down what processes and data you w...

Write down what processes and data you would analyse when looking at the following scenarios and write down any improvements you could include to ensure that the problem would be l

Explain significance of the additional funds needed (afn), Explain the sign...

Explain the significance of the term additional funds needed. While the pro forma balance sheet is completed, total assets and total liabilities and equity will hardly match.

Report on bank''s predicts of exchange rates, Q. Report on bank's predicts ...

Q. Report on bank's predicts of exchange rates? Report on banks' predicts of exchange rates. The three banks have produced extensively differing forecasts which even involve

Concept of yield measures, A fixed income security investor can expect to r...

A fixed income security investor can expect to receive a rupee returns from the following sources: (a) Interest payment, (b) Capital gain or loss at maturity or when so

Rate changes and duration estimate, To calculate duration, we need to...

To calculate duration, we need to first obtain the values for V - and V + where V - is the price when the yield decreases by certain number of basis points and V +

Management of Financial Institution, 1. Why do the banks borrow funds, besi...

1. Why do the banks borrow funds, besides accepting deposits? Discuss in detail the various sources from where banks can borrow funds within India.

Describe about permanent working capital, Q. Describe about Permanent Worki...

Q. Describe about Permanent Working Capital? Permanent Working Capital: - The requirement for working capital fluctuates from time to time. Nevertheless to carry on day-to-day

Alternative summarised version of tests of controls, Alternative summarised...

Alternative summarised version of tests of controls · Segregation of duty (staff records are separate from wages department) · Documentation ( written evidence ) ·

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