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(forward) . // .
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2 : - . .
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(Hedging) . , ( ) . .
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.
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()
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F0=S0erT : T ( ) S0 F0 r ()
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, , .
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. /option holder/ . /option writer/ (Striking or exercise price)
(Expiration date) (Option fee)
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. , . . . 4/5/2011 13
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(call option) (ut tion) -
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Call / /- , . Put / /- ,
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. Fischer Black, Myron Scholes, Robert Merton . .
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call option holder put option holder
: C = max ( St K ) St , K
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