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期权平价公式反映了欧式看涨和看跌期权之间的一种平价关系,如果市场价格与这种平价关系不相符合,投资者就可能获得无风险套利的机会。在价格有效的证券市场上,这种无风险套利的机会是不存在的。本文将对中国证券市场上股票期权的价格及其相应股票价格之间的关系进行分析,检验现实数据是否符合期权平价关系,给出相应解释,以反映和分析中国股票期权市场的现状。
The Option Parity Formula reflects a parity relationship between European Call and Put Options. If the market price is not consistent with this parity relationship, investors may have the opportunity to risk-free arbitrage. In a price-efficient securities market, this risk-free arbitrage opportunity does not exist. This article will analyze the relationship between the price of stock options and the corresponding stock price in the Chinese stock market, and test whether the actual data are in line with the option parity, and give corresponding explanations to reflect and analyze the current situation of China stock option market.