This is a preview. Log in through your library . Abstract This paper derives an analytic closed-form formula for the cumulative distribution function (cdf) of the ...

The Black-Scholes model enables investors to estimate the values of their options contracts more accurately. Read on to learn more about how this is performed.

Arithmetic Asian options are difficult to price and hedge as they do not have closed-form analytic solutions. The main theoretical reason for this difficulty is that the payoff depends on the finite ...