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The stock of S Corp is currently trading at a market price of $60 per share. Dur

ID: 2706399 • Letter: T

Question

The stock of S Corp is currently trading at a market price of $60 per share.  During the next two years the return on S Corp stock will have a yearly standard deviation of 45%.    The risk free rate is 3% per year compounded continuously.  An American call option on S Corp having a strike price of $57.50 and 18 months to expiration has a hedge ratio of .6681.  The risk-adjusted probability that the 18 month $57.50 call option will finish in the money is .4535.  Assuming S Corp is not expected to pay a dividend during the next two years, determine


a.  the value of an American call option on S Corp with 18 months to expiration and a $57.50 strike price


b. the risk adjusted probability that a European put option on S Corp having 18 months to expiration and a strike price of $57.50 will finish in the money.


c.  the value of European put option on S Corp having 18 months to expiration and a strike price of $57.50.

Explanation / Answer

The stock of S Corp is currently trading at a market price of $60 per share. Dur

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