这题怎么看 payoff profit什么区别

能否讲一下高估低估的问题？是不是sml 上的值是计算值，现实可能会高于这根线也可能低于。高于就会低估，低于就是高估？

为什么说deep in the money or deep out of money options, 的gamma等于0？

老师解析里有这样一句话： The model did not ignore correlation, but the trade thesis focused on anticipated gains from convexity. ，这与C选项后半句的表述“ deltas were partial derivatives that did not account for changing correlation, which drastically altered the hedge ratio”有关系么，怎么理解，谢谢

请问老师B选项怎么理解，should tell boards directly 这对么

董事会负责 top-level risk management吧？怎么说CRO

1、这里圈出来的Yj^到底是什么呀？能说明白一下吗？真实值还是拟合值？如果是拟合值，是哪个模型算出来的拟合值？ 2、第一个求和符号的范围，是i=1~n，可后面的表达式都没有i，那它是在对什么求和？

这道题没有听明白 麻烦老师再讲一下

请问老师这句话是什么意思？The trade could also have been hedged against correlation risk by employing an overlay hedge: that is, by going long single-name protection in high default-probability names. In this sense, the 'arbitrage' could not be captured via a two-leg trade, but required more components."

对于short call的delta， 是多少呢？ 这些delta怎么算呢？