If i turn the in the money option to at the money option in order receive less cash, which means I will suffer a loss? Why would I consider to do that?

If Bank ask Fed fund borrower money, is it cheaper than borrow from normal bank? And is it cheaper to borrower from central bank? Is fed fund = central bank?

Structured notes / securitized asset , pass through securities , CMO, REMICS, MVBs, stripper securities 全是表外嗎？out of balance sheet

这里0.35除以50怎么理解

为什么三个月要舍去，为什么i/y是3？

时间T为什么是1呢，题目给的时间是8年啊

请问期货对冲这里，如何判断方向？是不是对冲股票的时候那个结果的正负号直接可以判断Long Short，其余的需要自己判断？自己判断又是怎么判断的呢

LIBOR这个词在PPT哪里做了介绍？

老师你好，这道题我有点疑问。第一年potfolio不违约的概率我觉得应该是（1—3%）^10，因为一个portfolio里有10笔loan，每个loan的违约概率是3%

麻烦老师解答一下424题谢谢！