题目里说的都是半年的远期利率，为什么计算折现的时候利率还要除以2？

positive theta对应的不应该是deep ITM put ,哪里看出来是short

为什么是400股

two-year term life insurance policy 要求的应该是第一年不死第二年死的Prob，为什么payout计算的时候要算0.5年死亡+1.5年死亡的总体呢？与题目要求不符。

直接（98.2240/96.7713-1）*2也行是么

您好，老师，请问这个地方payoff是如何推倒的呢？为什么P会消掉

the bonds maturing in December 2005 and June 2006这里指的是12月31日还是12月1日？

如果是Downward选哪个？

A portfolio manager owns a portfolio of options on a non-dividend paying stock RTX. The portfolio is made up of 10,000 deep in-the-money call options on RTX and 50,000 deep out-of-the money call options on RTX. The portfolio also contains 20,000 forward contracts on RTX. RTX is trading at USD 100. If the volatility of RTX is 30% per year, which of the following amounts would be closest to the 1-day VaR of the portfolio at the 95 percent confidence level, assuming 252 trading days in a year?标的资产的VaR值如何计算？

流动负债只考虑长期负债？请问比如哪些项属于流动负债