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Question 18 Question 19

Black-Scholes Directly in a Excel Sheet Black-Scholes Directly in a Excel Sheet

Original spreadsheet by Espen Gaarder Haug Original spreadsheet by Espen Gaarder Haug



Stock price 62.00000000 S Stock price 52.00000000 S

Strike price 70.00000000 X Strike price 48.00000000 X

Years to maturity 0.07692308 T Years to maturity 0.32876712 T

Risk-free rate 0.05000000 r Risk-free rate 0.05000000 r

Volatility 0.59160798 v Volatility 0.20000000 v



European call value 1.49679241 call value European call value 5.41665634 call value

European put value 9.22807873 put value European put value 0.63406512 put value



0.262991014 -0.63415139 d1 0.89867117

0.212367379 -0.79823392 d2 0.78399473

Question 20 Question 21

Black-Scholes Directly in a Excel Sheet Black-Scholes Directly in a Excel Sheet

Original spreadsheet by Espen Gaarder Haug Original spreadsheet by Espen Gaarder Haug



Stock price 70.00000000 S Stock price 28.00000000

Strike price 90.00000000 X Strike price 40.00000000

Years to maturity 0.50000000 T Years to maturity 0.50000000

Risk-free rate 0.06000000 r Risk-free rate 0.06000000

Volatility 0.50000000 v Volatility 0.70710678



European call value 4.43117596 call value European call value 2.50340710

European put value 21.77127398 put value European put value 13.32122845



d1 -0.44919504 d1

d2 -0.80274843 d2

Question 22

Black-Scholes Directly in a Excel Sheet

Original spreadsheet by Espen Gaarder Haug



S Stock price 52.00000000 S

X Strike price 55.00000000 X

T Years to maturity 0.50000000 T

r Risk-free rate 0.04000000 r

v Volatility 0.24000000 v



call value European call value 2.70593320 call value

put value European put value 4.61686023 put value



-0.40334989 d1 -0.12780641 d1

-0.90334989 d2 -0.29751204 d2



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