1.为什么interest rate option是在期权到期之后一段时间再结算（不需要折现）的？（这样设定是为了什么） 而FRA却是在到期日结算（因此需要折现）To a interest rate option:The payment is made,not at option expiration,but at a future date corresponding to the term of the reference rate.To FRA(foward rate agreement):payoffs are made at the begining.
2."Option prices are more volatile than the price of the underlying stock."why?作者: apf陈老师 时间: 2013-9-14 06:29
第二个问题，因为option value = intrinsic value + time value
intrinsic value 和 stock price有关，他的volatile和stock price的一样；而option value比stock price又多了一个time value部分，这部分value也是有volatile的，所以option price的volatile要比stock price的大。作者: apf_jingrui_li 时间: 2013-10-17 11:58
The second question: One should use historical stock volatility as input to obtain option prices. However, additional volatility can be explained by option implied volatility which incorporates market emotion and investor expectation over the option's remaining life.
