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Option Trading Research Paper

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¶ … Valuation Project Option Valuation

Value two call options, using two different option-pricing calculators, and/or pricing programs. The two calls you are to value are: Ticket Symbol (WFM)

The August 2014 $50.00 Whole Foods Call Option (50 is the Strike Price)

The January 2015 $50.00 Whole Foods Call Option (50 is the Strike Price)

The two models that were utilized are the Binomial and Black Scholes. The Binomial model is focused on looking at the option from a neutral perspective. This means that a series of valuations will be provided which are showing the potential prices movements. In this case of Whole Foods, the price of the stock must move up or down $1.10 to be able to realize a profit. ("Binomial Options Calculator," 2014) The Black Scholes model is designed to provide everyone with a better understanding of the possible valuations of the option. This takes place by looking at different types of options and the impact of the markets using the price. Under this model, it is indicating that the stock should realize volatility of at least 4.481. This means that the value of the options should reach these levels to realize significant gains. ("Binomial Options Calculator," 2014) ("Black Scholes Calculator," 2014)

The Monte Carlo is looking at the risk valuation for a position. In the case of Whole Foods, it shows that there is a 25.95% of...

While at the same time, there is 12.89% probability of the stock going into a free fall and the put becoming profitable. ("Monte Carlos Options Calculator," 2014) The Heston model is looking at stochastic volatility. It is showing that the option has a realistic possibility of reaching 58.58 per share and then reverse. ("Option Pricer," 2014)
Compare the August 2014 call Greeks and the January 2015 call Greeks and explain why there are differences for each Greek (include Delta, Gamma, Theta, Vega and Rho). No credit will be given if you just provide the definition of the Greeks and I would prefer if you omitted basic definitions and references to the puts; you must apply the definitions to the situation and be specific.

The Greeks will determine how fast the option is expected to move. The delta is looking at the price of option in relation to the stock. The gamma is concentrating on the pace of the volatility. The theta is the time value decay. The vega is the amount the call and put prices will change. The Rho is the percentage the option will change.

In the case of Whole Foods, the August 2014 call is experiencing positive correlations with the option trading above the strike price. This is indicating positive shifts in the delta, gamma and rho. While the theta and vega are lower, this is because there is less time until expiration. However, the…

Sources used in this document:
References

Binomial Options Calculator. (2014). Waikato. Retrieved from: http://www.management.waikato.ac.nz/kurt/frontpage/studentwork/danielchainov2003/bitree2.htm

Black Scholes Calculator. (2014). My Stock Options. Retrieved from: http://www.mystockoptions.com/bs2.cfm?ticker=&s=51.10&x=50&t=0.6&r=.05%25&v=25%25&calculat e=Calculate

Monte Carlo Options Calculator. (2014). Volatility Trading. Retrieved from: http://www.volatilitytrading.net/monte_carlo_option_calculator.htm

Option Pricer. (2014). Kluge. Retrieved from: http://kluge.in-chemnitz.de/tools/pricer/heston_price.php?filled=1&T=0.7&strike=50.00&barrier_down=&barrier_up=&rd=1.0005&rf=1.0375&spot=123.4&sigma_0=0.1197&sigma_a=0.108977&kappa=1.98937&xi=0.33147&rho=0.0258519&n_s=50&n_v=15&n_t=20
Whole Foods Markets. (2014). Yahoo Finance. Retrieved from: http://finance.yahoo.com/q/op?s=WFM&m=2015- 01
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