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扑扑扑 · 2020年10月12日

问一道题:NO.PZ2018062007000087

问题如下:

In contrast to contingent claims, forward contracts:

选项:

A.

have their prices chosen by the participants.

B.

could end in default by either party.

C.

can be exercised by physical or cash delivery

解释:

B is correct. In a forward contract, either party could default, whereas in a contingent claim, default is possible only from the short to the long. A is incorrect because the forward price is set in the pricing of the contract such that the starting contract value is zero, unlike contingent claims, under which parties can select any starting value. C is incorrect because both forward contracts and contingent claims can be settled by either physical or cash delivery.

这题不是问两种的不同吗,选B表示forward commitment会违约但contingent claim不会。但contingent claim里的option不也是会违约的吗?

2 个答案
已采纳答案

丹丹_品职答疑助手 · 2020年10月13日

嗨,努力学习的PZer你好:


同学你好,并不是完全不会违约,答案有解析,买方因为在起初支付了期权费,后面就是权利方所以不会违约而卖方可能才会违约。而远期是双方都有可能违约。b选项说的是either party,请知悉


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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!


欢欢 · 2021年11月23日

forward contract,因为双方在一开始交易就是公平的(V0=0),所以双边都有可能违约是嘛?

lynn_品职助教 · 2021年11月23日

嗨,努力学习的PZer你好:


对的,双方都有可能违约。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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