推导Black-Scholes方程。 正文： （1）Black-Scholes方程. 假设V(S,t)为期权价格的随机过程，并且股价服从几何布朗运动。构造一个投资组合： \Pi = V-\Delta S. 经济意义就是一个delta对冲，在买入（或卖出）1份期权的同时，卖出（或买入） \Delta 份股票进行敞口调整。

Developed in 1973 by Fischer Black, Robert Merton, and Myron Scholes, the Black-Scholes model was the first widely used mathematical method to calculate the theoretical value of an option contract. The Black-Scholes equation requires six variables: volatility, the price of the underlying asset, the strike price of the option, the time until the expiration of the option, the risk-free interest rate, and the type of option, whether it's call or put. The inputs for the Black-Scholes equation are volatility, the price of the underlying asset, the strike price of the option, the time until the expiration of the option, the risk-free interest rate, and the type of option. The Black-Scholes model is only used to price European options.

The Black-Scholes / ˌ b l æ k ˈ ʃ oʊ l z / [1] or Black-Scholes-Merton model is a mathematical model for the dynamics of a financial market containing derivative investment instruments. From the parabolic partial differential equation in the model, known as the Black-Scholes equation, one can deduce the Black-Scholes formula, which gives a theoretical estimate of the price of ...

推导Black-Scholes方程。 正文： （1）Black-Scholes方程. 假设V(S,t)为期权价格的随机过程，并且股价服从几何布朗运动。构造一个投资组合： \Pi = V-\Delta S. 经济意义就是一个delta对冲，在买入（或卖出）1份期权的同时，卖出（或买入） \Delta 份股票进行敞口调整。

Developed in 1973 by Fischer Black, Robert Merton, and Myron Scholes, the Black-Scholes model was the first widely used mathematical method to calculate the theoretical value of an option contract. The Black-Scholes equation requires six variables: volatility, the price of the underlying asset, the strike price of the option, the time until the expiration of the option, the risk-free interest rate, and the type of option, whether it's call or put. The inputs for the Black-Scholes equation are volatility, the price of the underlying asset, the strike price of the option, the time until the expiration of the option, the risk-free interest rate, and the type of option. The Black-Scholes model is only used to price European options.

The Black-Scholes / ˌ b l æ k ˈ ʃ oʊ l z / [1] or Black-Scholes-Merton model is a mathematical model for the dynamics of a financial market containing derivative investment instruments. From the parabolic partial differential equation in the model, known as the Black-Scholes equation, one can deduce the Black-Scholes formula, which gives a theoretical estimate of the price of ...