To begin with the obvious: there are many markets, and many kinds of markets. It would be easy to insist as a result that the use of the indefinite article in ‘ the market’ is nothing more than a matter of convenience, and that any attempt to elaborate a theory of the market in the singular is bound to fall into either triviality, overgeneralization, or both. Perhaps.
KeywordsOption Price Price Model Future State Implied Volatility Strike Price
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