135****01502025-02-25 08:12:48
135****0150作为期权定价公式中的一个因素，隐 含波动性可用于衡量标的资产的预期风险。这句话怎么理解？
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Essie2025-02-25 10:17:05
Essie同学你好，隐含波动率是期权定价模型中的一个参数，它表示市场参与者对标的资产未来价格波动的预期。隐含波动率越高，意味着市场预期标的资产未来的价格波动越大，即风险越高；隐含波动率越低，意味着市场预期标的资产未来的价格波动越小，即风险越低。
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麻烦把定价公式列出来，并列示隐含波动率这个参数是哪个？
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以看涨期权为例，下图是BSM模型，给定期权的市场价格c0，以及其他参数S0，Rfc，T。根据BSM倒推出公式中的sigma，就叫做隐含波动率。公式是二级才会学习的。
一级了解概念即可，也有有其他伙伴贴了英文的定性描述。
180****86962025-02-25 19:16:09
The implied volatility in an option pricing model represents the market´s expectations of the future volatility (or risk) of the underlying asset. It is derived from the price of the option itself, as it reflects the consensus of all market participants regarding how much the asset´s price might fluctuate over the life of the option. A higher implied volatility suggests that the market expects greater fluctuations in the asset’s price, which increases the value of options, particularly call and put options, because higher volatility increases the likelihood of the option finishing in-the-money. In this way, implied volatility serves as a measure of the anticipated risk, as it quantifies the uncertainty about the asset’s future price movements.
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