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93. A description least likely to explain put-call parity is:
A. A fiduciary call option strategy and a protective put option strategy for an
underlying asset are equal in value.
B. A put is equivalent to a long call, a long position in the underlying asset, and a
long position in the risk-free asset.
C. A call is equivalent to a long put, a long position in the underlying asset, and a
short position in the risk-free asset.
Answer: C
“Option Markets and Contracts”, Don M. Chance
2009 Modular Level I, Volume 6, pp. 106-110
Study Session 17-70-j
Explain put-call parity for European options, and relate put-call parity to arbitrage
and the construction of synthetic options.
The put requires a short position in the underlying rather than a long position.
这个题是不是B选项也是least likely的？
call put parity :  = C - S + PV(X)
long P long C short S long X | 
发表于 2009-11-30 14:22
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