用二项式期权定价模型估价美式再装期权的价值

Valuing the Price of American Reload Option by Binomial Option Pricing Model

介绍了如何运用二项式期权定价模型 ,根据再装期权的定义 ,导出再装期权的定价公式 ,同时 ,通过实例说明了若忽略再装期权的再装特征 ,将低估再装期权的价值 .

According to the definition of reload option,the paper deals with the problem of how the binomial option pricing model can be used to value the price of American reload option;in the same time,it exemplifies that the value of reload options will be underestimated if we ignore the reload feature of reload options.