为什么 评价期权（ATM）对冲不成比例 于价外期权（OTM ） 价内期权（ITM）？

1. 为什么 评价期权（ATM）对冲不成比例 于价外期权（OTM ） 价内期权（ITM）？

看来是我们专业的小伙伴，悲伤的FIM

2. 关于Black-Scholes期权定价模型中重要参数的问题

可以为负数。

从数学的角度来看，公式里的N(d1)，也就是delta，是正态分布的累计概率分布函数。我们知道看涨期权的delta可以取到(0,1)之间的任何值，所以d1可以取到实数轴上的任意值。

例如，一个OTM的看涨期权，它的delta小于0.5，也就是N(d1)小于0.5。对于一个正态分布累计概率分布函数f(x)来说，只有x小于零时f(x)才小于0.5

d2是d1减去一个正数，如果d1本身是负数的话，d2一定是负数。因此d1和d2都可以为负数。

3. 期权的gamma在vba中怎么算

B ATM的时候Delta近似0.5，往ITM方向移动Delta会增大逐渐趋向1，往OTM方向移动会减小逐渐趋向0。Gamma在ATM的时候最大，往两边移动都会变校 B 这题如果要计算，带入公式就好了。但是其实可以直接判断。持有股票的Delta为1，看涨期权Delta一定小

4. early exercise金融期权题，英文作答，急急急

(1) real option
When the call option executive price lower than the actual price at that time, or when the put option executive price higher than the actual price at that time, the options for real option. 
(2) the virtual value option
When the call option executive price higher than the actual price at that time, or when the put option executive price lower than the actual price at that time, the option for otm. When theoption for OTM, intrinsic value is zero.
(3) two flat option
When the call option executive price equal to the actual price at that time, or when the put option executive price equal to the actual price at that time, the option to level two options.When the option is two level option, meaning the value of zero
the existence of profit price, option selection depends on the exercise price and the objectwhen the subject matter is bullish when buying call options, put the time to buy a put option