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所在平台: Udemy |
课程主页: https://www.udemy.com/course/financial-derivatives-black-scholes-model-in-options/
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课程名称：金融衍生品：期权中的布莱克-肖尔斯模型 课程概述： 本课程详细解释了布莱克-肖尔斯模型的各种见解和方法，以及其计算过程。布莱克-肖尔斯模型用于计算金融衍生品中的看涨期权和看跌期权的价值。金融衍生品是其价值基于基础资产价格的金融工具，是一种合同，其价值取决于其他事物。金融衍生品的价格源于诸如证券、商品、债券、利率等基础项目。最常见的衍生品形式包括： 1. **远期合约（Forwards）**：这是两个当事方之间定制的合同，以指定价格在未来某日期买卖资产。 2. **期货（Futures）**：期货与远期类似，但在证券交易所是标准化和监管的。 3. **期权（Options）**：期权是给予买方权利（但无义务）在某一特定日期之前以指定价格（执行价格）购买（看涨期权）或出售（看跌期权）某一资产的金融工具。 4. **掉期（Swaps）**：基于不同因素的证券交换称为掉期。 根据约翰·C·霍尔的定义：“衍生品可以被定义为一个金融工具，其价值依赖于其他更基本的基础变量的价值。” **期权简介**： 期权是给予买方（但无义务）在某一特定日期之前以指定价格（执行价格）购买（看涨期权）或出售（看跌期权）某一资产的金融工具。相关资产称为“基础资产”，可以是任何证券、股票指数、商品、外汇、利率等。期权通常分为： 1. **看涨期权（Call Option）**：这是一种合约，允许买方在指定日期之前以“执行价格”交换股票。买方有权利但无义务按执行价格购买股票。如果股票价格在到期前上涨至更高，则买方可以获得利润；否则，期权将失效。 2. **看跌期权（Put Option）**：这是一种合约，允许买方在到期之前以“执行价格”卖出股票。买方拥有将股票以执行价格出售的权利。如果股票价格下跌，买方可以获利；如果股票不降至执行价格以下，则期权将失效。 通过本课程，您将深入了解布莱克-肖尔斯模型的应用及其在期权定价中的重要性。
In this course , various insights and methodology of Black Scholes Model is explained in detail alongwith its calculation. Black Scholes Model is used to calculate the value of Call Options and Put Option in Financial Derivatives. Financial Derivative is a financial instrument whose value is based on the price of an underlying asset. It is a contract whose value is based on something else. They are those instruments whose price is derived from underlying item such as Security, commodity, bonds, interest rates ,etc.The most common form of derivatives are:Forwards- It is a customized contract between 2 parties to buy or sell an asset at a specified price at a specified future date.Futures-Futures are similar to Forwards but are standardized and regulated in Stock Exchanges.Options- Options are those financial instruments that gives the Right but not the obligation to buy (CALL) or sell (PUT) a security or other Financial asset.Swaps- The exchange of one security for another based on different factors are termed as Swaps.According to John C.Hull, "A Derivative can be defined as a Financial Instrument whose value depends on the value of the other, more basic underlying variable" Let's give a brief idea about Options:Options are those Financial Instruments that gives the right to the buyer (but not the obligation) to "BUY"(CALL) or "SELL" (PUT) a security or any other financial asset on or before a certain date, at a specified price (Strike Price). The asset under consideration is termed as ‘Underlying' which could be any security, stock indices, commodities, foreign exchange, interest rate,etc. Options are popularly classified into:I) Call Option- A Call Option is a contract between two parties to exchange a stock at a "Strike Price" by a predetermined date. One Party, the buyer of the "Call" has the right but not the obligation, to buy the stock at the strike price by the future date, while the other party, the seller of the call has the obligation to sell the stock to the buyer at the Strike Price if the buyer exercises the Option. For example, if a stock is trading at Rs.500 and a trader feels that it might go upto Rs.600, and he buys a Rs.550 "Call Option" for a premium of Rs.5 If the stock rose to Rs.600, that would allow him to buy the stock at Rs.550, even though its valued at Rs.600, giving a profit of Rs.45 on each share. On the other hand, the person who sold him the " Call" would be obligated to sell the stock at Rs.550. If the stock never rises above Rs.550 by expiration date, the "Call" expires worthless and the " Call" buyer is out Rs.5 and the "Call" seller keeps Rs.5II) Put Option- A Put Option is a contract between two parties to exchange a stock at a "Strike Price", on or before a predetermined date (date of expiry). One party, the buyer of the "Put" has the right, but not the obligation to sell the stock from the buyer at the strike price. For example, if a stock is trading at Rs.500 and the trader thinks that it can go down to Rs.400, then he might buy a Rs.450 Put Option for Rs.5. If the stock dropped to Rs.400, then that would allow him to sell the stock at Rs.450 even though its valued at Rs.400, giving him a profit of Rs.45 on each share. On the other hand, the person who sold him the "Put" would be obligated to buy the stock from him at Rs.450 at a huge loss of Rs.45. If the stock never drops below Rs.450 by expiration date, the "Put" expires worthless and the "Put" buyer loses our Rs.5 and the "Put" seller keeps the profit Rs.5.
