投资人的成本为两种期权费的差额。
The cost of the investor is the difference of the two options' premium.
期权协约的价格成为期权费。
如果利率下跌时，银行虽然得到期权费，但是却失去了一些潜在利益。
If interest rates rise, the option cushions portfolio loss as the bank receives the option premium.
此时保险人会突然发现自己面临巨额损失，好光景时赚的那点期权费只是杯水车薪，不得不以自有资本抵进行冲抵。
When that happens, the insurer can suddenly find itself facing huge losses that can not only wipe out the premiums earned in good times, but also cut into its capital as well.
他们会卖出期权，出售承担极端市场风险的保险以赚取保险费。
They will write options, earning premiums for selling insurance against extreme market movements.
第三章是本文的核心部分，系统地推导了支付交易费的亚式期权定价公式。
The third chapter is the core of this paper, in which we deduce formula of Asian option pricing models with transaction costs systematically.
特别地，在考虑交易费的情况下我们得到了欧式下降敲入看涨期权的最小值，即期权的实际价值。
In particular, the minimal price of the European down-and-in call option under transaction costs is obtained, which can be used as the actual price of an option.
会员费，公司用车费，住房补贴，利润分红，股票期权和更高的旅行津贴。
Perks include country club memberships, company car, housing allowance, profit sharing and stock options, and better travel allowances.
在期权交易的实际操作中，红利和交易费用是不可避免的，因此在时间连续的市场模型中考虑红利和交易费，对丰富期权定价理论及指导金融实践的都有着重要的意义。
In the option trading market, dividends and transaction costs can't be avoided. Considering them in continuous-time market makes sense to develop option pricing theory and guide financial practice.
在期权交易的实际操作中，红利和交易费用是不可避免的，因此在时间连续的市场模型中考虑红利和交易费，对丰富期权定价理论及指导金融实践的都有着重要的意义。
In the option trading market, dividends and transaction costs can't be avoided. Considering them in continuous-time market makes sense to develop option pricing theory and guide financial practice.
应用推荐