布莱克-斯科尔斯期权定价模型 Black-Scholes Option Valuation X=执行价格 EXercise price δ=标的股票的年股利收益率 Annual dividend yield of underlying stock e=2.71828,自然对数涵数的底数 the base of the nat log r=无风险利率Risk- free interest rate( annualize continuously compounded with the same maturity as the option 21-11
21-11 布莱克-斯科尔斯期权定价模型 Black-Scholes Option Valuation X = 执行价格Exercise price. d = 标的股票的年股利收益率Annual dividend yield of underlying stock e = 2.71828, 自然对数函数的底数the base of the nat. log. r = 无风险利率Risk-free interest rate (annualizes continuously compounded with the same maturity as the option
布莱克-斯科尔斯期权定价模型 Black-Scholes Option Valuation T=期权到期前的时间(以年为单位) time to maturity of the option in years n=自然对数 Natural log function σ=股票连续复利年收益率的标准差 Standard deviation of annualized cont compounded rate of return on the stock 21-12
21-12 布莱克-斯科尔斯期权定价模型 Black-Scholes Option Valuation T = 期权到期前的时间（以年为单位） time to maturity of the option in years. ln = 自然对数Natural log function s = 股票连续复利年收益率的标准差Standard deviation of annualized cont. compounded rate of return on the stock