期刊名称：Finante - provocarile viitorului (Finance - Challenges of the Future)
印刷版ISSN：1583-3712
出版年度：2010
卷号：1
期号：12
页码：137-146
出版社：University of Craiova, Faculty of Economics and Business Administration
摘要：A huge number of financial institutions and companies use the options in risk management. A particularly important issue that arises when it comes to options is fixing their value. In this paper we present the classical models for valuing options: Black-Scholes model and binomial model. Existence of an analytical solution for the price of a European vanilla option allow analyzing how their prices respond to changes of variables and parameters. Options price response to these variables changes are virtually the sensitivity coefficients of the premium and main elements for measuring the risk that these financial assets involve when are used to define cover practices for such risks. In addition, the indicators facilitate the development of cash flows generated by the underlying asset, technique which can be useful if certain financial portfolio management strategies involve derivatives.
关键词：options evaluation; Black-Scholes model; binomial options pricing model
