shihong · 2022年02月13日
NO.PZ2020021203000071
问题如下：
Is an in-the-money American call option on a nondividend-paying stock worth more than its intrinsic value? Explain.
解释：
Yes. An in-the-money American call on a non-dividend paying stock is worth at least S - PV(K), which is greater than S - K. It is never worth exercising the call early and so it must be worth more than its intrinsic value.
老师，请问结论跟是否是ITM有关系吗？下限就是S-PV（x),如果是OTM就不同了吗
NO.PZ2020021203000071 问题如下 Is in-the-money Americcall option on a nonvinpaying stoworth more thits intrinsic value? Explain. Yes. in-the-money Americcall on a non-vinpaying stois worth least S - PV(K), whiis greater thS - K. It is never worth exercising the call early anso it must worth more thits intrinsic value. 老师好，对这道题我没有疑问，但想问一下在Section12的课程中提到了现金分红不会影响option，为什么本节课程提到现金分红会成为美式期权是否提前行权的一个或有条件？另外就算是现金分红，分完之后的股价也会随着分红金额发生变化，比如50块的股票，分5块钱，股价变为45，对于投资者而言实际获得的钱还是50，并不会因为分红后获得更高价值的股票（仅考虑分红对价格的影响，不考虑其他因素）。这个条件下，就算是in the money的期权，投资者获得的实际profit都是固定的，那行权图啥？为了再投资还是为了无风险收益？感觉没有行权动力。
NO.PZ2020021203000071 问题如下 Is in-the-money Americcall option on a nonvinpaying stoworth more thits intrinsic value? Explain. Yes. in-the-money Americcall on a non-vinpaying stois worth least S - PV(K), whiis greater thS - K. It is never worth exercising the call early anso it must worth more thits intrinsic value. S - PV(K)是 基于不分红的股票的Americcall 到期执行的最小价值? S - K是基于不分红的股票的Americcall提前行权时的intrinsic value?S - PV(K)大于S-K，所以提前行权不划算？
