欧式期权的主观预期估价方法及投资决策

Subjective Expectation Evaluation Method for European Options and Corresponding Investment Decision\|Making

考虑投资者对标的证券价格推断或权衡等主观因素,给出欧式期权的主观预期估价及投资决策方法。方法的建立无需特别设定假设条件,且计算公式十分简单。可以证明,在一定的条件下由该方法得到的估价结果与标准的Black Scholes模型的定价结果一致。

By considering the investors subjective factors in the process to infer the undering securitys price,we present the subjective expectation evaluation method and corresponding investment decision\|making for the European options.The method is established under no special assumptions,and the calculation formula is very simple.We can prove that the evaluation result of this method is the same as that obtained by the standard Black\|scholes under some conditions.