An investor is looking to create an options portfolio on XYZ stock that will have virtually zero vega exposure while maximizing the ability to profit from increases in interest rates. If the current price of XYZ is $50, which of the following would accomplish his goals? A Sell a call with a strike price of $50 B Buy a call with a strike price of $25 C Sell a put with a strike price of $50 D Buy a put with a strike price of $25 这一题有一点混淆，什么时候是ITM，什么时候是OTM？还有就是VEGA=0为什么就是deep in the money或者deep out of the money?上课老师说的都可以明白，为什么一做题目就全部都不懂？o(╥﹏╥)o

方差计算公式是怎样的？求解

swap的float如果用的是libor spot rate，那么 c=y ，PV=par 如果float用的不是spot rate （比如libor+2%） 那么 c=libor+2% y=libor c不等于y PV不等于par了。 请问是这样么？

为什么图一绿色圈部分和图二的不一样，图一是1.05*1.05，为什么不是1.05*1.045？

图一和图二的绿色部分曲线形状不一样，表示是同一个东西吗？

如何用计算器计算方差？

老师，这道题我是按这个步骤按的计算器，为什么算出来的PV=—865.8267，是哪个步骤出错了？

In evaluating the dynamic delta hedging of a portfolio of short option positions, which of the following is correct? The interest cost of carrying the delta hedge will be highest when the options are deep in-the-money. 这一题不明白什么意思？对于short方，in the money是指赚钱的时候，为什么这时Delta就会大？不明白什么逻辑o(╥﹏╥)o，课程里面，老师说在put的情况下，in the money 的delta是小的，不就跟这里逻辑不一样？

Initially, the call option on Big Kahuna Inc. with 90 days to maturity trades at USD 1.40. The option has a delta of 0.5739. A dealer sells 200 call option contracts, and to delta-hedge the position, the dealer purchases 11,478 shares of the stock at the current market price of USD 100 per share. The following day, the prices of both the stock and the call option increase. Consequently, delta increases to 0.7040. To maintain the delta hedge, the dealer should: 这一题，听完老师的讲解还是完全不明白，老师的书写又潦草，又解释不清楚o(╥﹏╥)o，是不是默认每一份stock的delta是1？然后为什么要先求出X=100，这个不明白什么意思……

老师 为什么stack and roll在正常市场上会盈利 反向市场上就是损失呢 能解释一下原理吗～