Secret Sauce Error or Essay Q-Bank Error
Hi guys,
Just wanted to point out an inconsistency:
Page 219 of the Secret Sauce says that a Payer Swaption is also a Put Swaption, while Receiver Swaption is a Call Swaption.
But in the Schweser essay Q-Bank it reads:
A payer swaption (call swaption) gives the buyer the right to be the fixed-rate payer and the floating-rate receiver at the expiration of the swaption, thus insulating him from rising interest rates.
A put swaption gives the holder the right to pay floating and receive fixed, is also called a receiver swaption, and protects the holder of the option against a decrease in interest rates, not an increase.
I don’t have my actual CFA text with me so I can’t check that right now. Can anyone confirm with source is correct |
发表于 2013-4-1 14:38
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