Pricing holder-extendable call options with mean-reverting stochastic volatility

Options with extendable features have many applications in finance and these provide the motivation for this study. The pricing of extendable options when the underlying asset follows a geometric Brownian motion with constant volatility has appeared in the literature. In this paper, we consider holder-extendable call options when the underlying asset follows a mean-reverting stochastic volatility. The option price is expressed in integral forms which have known closed-form characteristic functions. We price these options using a fast Fourier transform, a finite difference method and Monte Carlo simulation, and we determine the efficiency and accuracy of the Fourier method in pricing holder-extendable call options for Heston parameters calibrated from the subprime crisis. We show that the fast Fourier transform reduces the computational time required to produce a range of holder-extendable call option prices by at least an order of magnitude. Numerical results also demonstrate that when the Heston correlation is negative, the Black-Scholes model under-prices in-the-money and over-prices out-of-the-money holder-extendable call options compared with the Heston model, which is analogous to the behaviour for vanilla calls

Three-point correlators for giant magnons

Three-point correlation functions in the strong-coupling regime of the AdS/CFT correspondence can be analyzed within a semiclassical approximation when two of the vertex operators correspond to heavy string states having large quantum numbers while the third vertex corresponds to a light state with fixed charges. We consider the case where the heavy string states are chosen to be giant magnon solitons with either a single or two different angular momenta, for various different choices of light string states.Comment: 15 pages. Latex. v2: Misprints corrected. Published versio

Effects of a simulation-based workshop on nursing students' competence in arterial puncture

Objective: To evaluate whether a short simulation-based workshop in radial artery puncture would improve nursing students’ competence to a level in which they could practise the procedure on a live patient without compromising his safety. Methods: Quasi-experimental one-group pretest-posttest study with 111 third-year nursing students. A 1.5-hour simulation-based workshop was implemented. This included a video-lecture, live demonstrations, selfdirected simulated practice in dyads and individual intermittent feedback. Participants’ skills, knowledge and self-efficacy in arterial puncture were measured before and after attending the workshop. Results: After the intervention, a total of 61.1% of the participants showed the level of competence required to safely practice radial artery puncture on a live patient under supervision. Conclusion: Effective simulation-based training in arterial puncture for nursing students does not necessarily need to be resource-intensive. Well-planned, evidence-based training sessions using low-tech simulators could help educators to achieve good educational outcomes and promote patient safety

Noise-driven amplification mechanisms governing the emergence of coherent extreme events in excitable systems

The physics governing the formation of extreme coherent events, i.e., the systemwide emergence of an observable taking extraordinary values in a short time window, is a relevant yet elusive problem to a variety of disciplines ranging from climate science to neuroscience. Despite their inherent differences, systems exhibiting episodes of extreme coherence can be abstracted as a set of coupled nonlinear elements in a noisy and networked environment. Here, we propose a model describing the generation of extreme coherence by exploring theoretically and numerically the capacity of noise and network correlations to amplify a critical core of the system and trigger an extreme event. Although we principally center our study in modeling bursting phenomena in neuronal circuits, we extend our analysis to other systems such as algae blooms and infectious diseases. We show that extreme events originate in a relatively small core of the system and that different cores may coexist. We also show that the amplification mechanisms within a system are highly robust, so that the deletion of central nodes leads to other nodes taking leadership

Clinical Impact of the COVID-19 Pandemic in Mexican Patients with Thoracic Malignancies

BACKGROUND: Accumulated evidence indicates that patients with lung cancer are a vulnerable population throughout the pandemic. Limited information is available in Latin America regarding the impact of the pandemic on medical care. The goal of this study was to describe the clinical and social effect of COVID-19 on patients with thoracic cancer and to ascertain outcomes in those with a confirmed diagnosis. MATERIALS AND METHODS: This cohort study included patients with thoracic neoplasms within a single institution between March 1, 2020, and February 28, 2021. All variables of interest were extracted from electronic medical records. During this period, the Depression Anxiety and Stress Scale 21 (DASS-2) was applied to evaluate and identify more common psychological disorders. RESULTS: The mean age for the total cohort (n = 548) was 61.5 ± 12.9 years; non-small cell lung cancer was the most frequent neoplasm (86.9%), advanced stages predominated (80%), and most patients were under active therapy (82.8%). Any change in treatment was reported in 23.9% of patients, of which 78.6% were due to the COVID-19 pandemic. Treatment delays (≥7 days) were the most frequent modifications in 41.9% of cases, followed by treatment suspension at 37.4%. Patients without treatment changes had a more prolonged progression-free survival and overall survival (hazard ratio [HR] 0.21, p < .001 and HR 0.28, p < .001, respectively). The mean DASS-21 score was 10.45 in 144 evaluated patients, with women being more affected than men (11.41 vs. 9.08, p < .001). Anxiety was reported in 30.5% of cases, followed by depression and distress in equal proportions (18%). Depressed and stressed patients had higher odds of experiencing delays in treatment than patients without depression (odds ratio [OR] 4.5, 95% confidence interval [CI] 1.53–13.23, p = .006 and OR 3.18, 95% CI 1.2–10.06, p = .006, respectively). CONCLUSION: Treatment adjustments in patients with thoracic malignancies often occurred to avoid COVID-19 contagion with detrimental effects on survival. Psychological disorders could have a role in adherence to the original treatment regimen

Electrical Conductivity Studies on Individual Conjugated Polymer Nanowires: Two-Probe and Four-Probe Results

<p>Abstract</p> <p>Two- and four-probe electrical measurements on individual conjugated polymer nanowires with different diameters ranging from 20 to 190 nm have been performed to study their conductivity and nanocontact resistance. The two-probe results reveal that all the measured polymer nanowires with different diameters are semiconducting. However, the four-probe results show that the measured polymer nanowires with diameters of 190, 95&#8211;100, 35&#8211;40 and 20&#8211;25 nm are lying in the insulating, critical, metallic and insulting regimes of metal&#8211;insulator transition, respectively. The 35&#8211;40 nm nanowire displays a metal&#8211;insulator transition at around 35 K. In addition, it was found that the nanocontact resistance is in the magnitude of 10⁴&#937; at room temperature, which is comparable to the intrinsic resistance of the nanowires. These results demonstrate that four-probe electrical measurement is necessary to explore the intrinsic electronic transport properties of isolated nanowires, especially in the case of metallic nanowires, because the metallic nature of the measured nanowires may be coved by the nanocontact resistance that cannot be excluded by a two-probe technique.</p

The functional head of the Cambrian radiodontan (stem-group Euarthropoda) Amplectobelua symbrachiata

© The Author(s). 2017. This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. The Creative Commons Public Domain Dedication waiver (http://creativecommons.org/publicdomain/zero/1.0/) applies to the data made available in this article, unless otherwise stated. The attached file is the published version of the article

Equator-to-pole temperature differences and the extra-tropical storm track responses of the CMIP5 climate models

This paper aims to understand the physical processes causing the large spread in the storm track projections of the CMIP5 climate models. In particular, the relationship between the climate change responses of the storm tracks, as measured by the 2–6 day mean sea level pressure variance, and the equator-to-pole temperature differences at upper- and lower-tropospheric levels is investigated. In the southern hemisphere the responses of the upper- and lower-tropospheric temperature differences are correlated across the models and as a result they share similar associations with the storm track responses. There are large regions in which the storm track responses are correlated with the temperature difference responses, and a simple linear regression model based on the temperature differences at either level captures the spatial pattern of the mean storm track response as well explaining between 30 and 60 % of the inter-model variance of the storm track responses. In the northern hemisphere the responses of the two temperature differences are not significantly correlated and their associations with the storm track responses are more complicated. In summer, the responses of the lower-tropospheric temperature differences dominate the inter-model spread of the storm track responses. In winter, the responses of the upper- and lower-temperature differences both play a role. The results suggest that there is potential to reduce the spread in storm track responses by constraining the relative magnitudes of the warming in the tropical and polar regions

Distribution and genetic variation of hymenolepidid cestodes in murid rodents on the Canary Islands (Spain)

<p>Abstract</p> <p>Background</p> <p>In the Canary Islands there are no previous data about tapeworms (Cestoda) of rodents. In order to identify the hymenolepidid species present in these hosts, a survey of 1,017 murine (349 <it>Rattus rattus</it>, 13 <it>Rattus norvegicus </it>and 655 <it>Mus musculus domesticus</it>) was carried out in the whole Archipelago. Molecular studies based on nuclear <it>ITS1 </it>and mitochondrial <it>COI </it>loci were performed to confirm the identifications and to analyse the levels of genetic variation and differentiation.</p> <p>Results</p> <p>Three species of hymenolepidids were identified: <it>Hymenolepis diminuta</it>, <it>Rodentolepis microstoma </it>and <it>Rodentolepis fraterna</it>. <it>Hymenolepis diminuta </it>(in rats) and <it>R. microstoma </it>(in mice) showed a widespread distribution in the Archipelago, and <it>R. fraterna </it>was the least spread species, appearing only on five of the islands. The hymenolepidids found on Fuerteventura, Lanzarote and La Graciosa were restricted to one area. The <it>COI </it>network of <it>H. diminuta </it>showed that the haplotypes from Lanzarote and Fuerteventura are the most distant with respect to the other islands, but clearly related among them.</p> <p>Conclusions</p> <p>Founder effects and biotic and abiotic factors could have played important role in the presence/absence of the hymenolepidid species in determined locations. The haplotypes from the eastern islands (Fuerteventura and Lanzarote) seem to have shared an ancestral haplotype very distant from the most frequent one that was found in the rest of the islands. Two colonization events or a single event with subsequent isolation and reduced gene flow between western-central and eastern islands, have taken place in the Archipelago. The three tapeworms detected are zoonotic species, and their presence among rodents from this Archipelago suggests a potential health risk to human via environmental contamination in high risk areas. However, the relatively low prevalence of infestations detected and the focal distribution of some of these species on certain islands reduce the general transmission risk to human.</p