Efficiency of S&P CNX Nifty Index Option of the National Stock Exchange (NSE), India, using Box Spread Arbitrage Strategy

Box spread is a trading strategy in which one simultaneously buys and sells options having the same underlying asset and time to expiration, but different exercise prices. This study examined the efficiency of European style S&P CNX Nifty Index options of National Stock Exchange, (NSE) India by making use of high-frequency data on put and call options written on Nifty (Time-stamped transactions data) for the time period between 1st January 2002 and 31st December 2005 using box-spread arbitrage strategy. The advantages of box-spreads include reduced joint hypothesis problem since there is no consideration of pricing model or market equilibrium, no consideration of inter-market non-synchronicity since trading box spreads involve only one market, computational simplicity with less chances of mis-specification error, estimation error and the fact that buying and selling box spreads more or less replicates risk-free lending and borrowing. One thousand three hundreds and fifty eight exercisable box-spreads were found for the time period considered of which 78 Box spreads were found to be profitable after incorporating transaction costs (32 profitable box spreads were identified for the year 2002, 19 in 2003, 14 in 2004 and 13 in 2005) The results of our study suggest that internal option market efficiency has improved over the years for S&P CNX Nifty Index options of NSE India.    

Detecting Dark Matter Annihilation with CMB Polarization : Signatures and Experimental Prospects

Dark matter (DM) annihilation during hydrogen recombination (z ~ 1000) will alter the recombination history of the Universe, and affect the observed CMB temperature and polarization fluctuations. Unlike other astrophysical probes of DM, this is free of the significant uncertainties in modelling galactic physics, and provides a method to detect and constrain the cosmological abundances of these particles. We parametrize the effect of DM annihilation as an injection of ionizing energy at a rate e_{dm}, and argue that this simple "on the spot'' modification is a good approximation to the complicated interaction of the annihilation products with the photon-electron plasma. Generic models of DM do not change the redshift of recombination, but change the residual ionization after recombination. This broadens the surface of last scattering, suppressing the temperature fluctuations and enhancing the polarization fluctuations. We use the temperature and polarization angular power spectra to measure these deviations from the standard recombination history, and therefore, indirectly probe DM annihilation. (abridged)Comment: 13 pages, 8 figures, submitted to PR

Spontaneous bowel perforation due to norovirus: a case report

Norovirus is the leading cause of epidemic gastroenteritis worldwide but the disease is usually self-limiting and generally only causes serious health problems in the young, elderly and immunocompromised. The authors report a case of bowel perforation in an elderly Caucasian lady with confirmed infection with Norovirus genogroup II and no other presumptive cause. To the authors' knowledge this is the first such case of bowel perforation due to Norovirus. Viral gastroenteritis should be considered in the list of differentials when no obvious cause of bowel perforation can be identified to minimise morbidity and mortality

Efficiency of S&P CNX Nifty Index Option of the National Stock Exchange (NSE), India, using Box Spread Arbitrage Strategy

Box spread is a trading strategy in which one simultaneously buys and sells options having the same underlying asset and time to expiration, but different exercise prices. This study examined the efficiency of European style S&P CNX Nifty Index options of National Stock Exchange, (NSE) India by making use of high-frequency data on put and call options written on Nifty (Time-stamped transactions data) for the time period between 1st January 2002 and 31st December 2005 using box-spread arbitrage strategy. The advantages of box-spreads include reduced joint hypothesis problem since there is no consideration of pricing model or market equilibrium, no consideration of inter-market non-synchronicity since trading box spreads involve only one market, computational simplicity with less chances of mis-specification error, estimation error and the fact that buying and selling box spreads more or less replicates risk-free lending and borrowing. One thousand three hundreds and fifty eight exercisable box-spreads were found for the time period considered of which 78 Box spreads were found to be profitable after incorporating transaction costs (32 profitable box spreads were identified for the year 2002, 19 in 2003, 14 in 2004 and 13 in 2005) The results of our study suggest that internal option market efficiency has improved over the years for S&P CNX Nifty Index options of NSE India

MNC2008-70296 Bubble Dynamics on Nanostructured Cu Surfaces

Abstract Nucleate boiling performance was enhanced up to an order of magnitude through direct deposition of Cu nanorods on a planar Cu surface. The methodology that enables order of magnitude improvement in boiling performance without fabricating complicated surface structures or changing the working fluid will have broad impact on metal-liquid type two-phase heat exchangers. In this study, discussion was focused on bubble dynamics on the nanostrucured Cu surfaces. We observed striking differences in bubble dynamics through nucleation boiling process for the nanostructured surface including smaller bubble diameters, higher release frequencies and nucleation site density, and large fluctuations in bubble diameter prior to release. These differences during the boiling process are responsible for the enhanced heat transfer. High quality images were captured through a well-designed visualization system, which comprises of a high-speed chargecoupled device (CCD) camera, microscope and data acquisition system. This visualization study aims to quantitatively study the bubble dynamics on the nanostructured Cu surfaces

Clinical, hematological and cytogenetic profile in fibroblast growth factor receptor 1 rearranged hematoloymphoid malignancies

The background of this study is FGFR1 belongs to a family of four, high-affinity receptor tyrosine kinase and is a legitimate oncogene associated with uterine, cervical, prostate, bladder, colorectal and lung cancers. It is rarely concomitant in myeloid and lymphoid neoplasms but has an aggressive clinical course with a high mortality rate when present. Cytogenetic abnormalities involving the FGFR1 gene is most frequently observed in AML, MPN with eosinophilia, T-ALL and T-LBL with ZMYM2 gene being the most common fusion partner. Methods of this study was to authors report a series of 4 cases with FGFR1 rearrangements. Results is three patients presented as T-cell Lymphoblastic lymphoma (T-LBL) and one as mixed phenotype acute leukemia (MPAL). The T-LBL cases harboured the FGFR1/ ZMYM2 fusion and the MPAL case harbored the CNTRL/FGFR1 fusion as identified by conventional cytogenetics and confirmed by molecular studies. Conclusion is authors herewith describe the clinical, biochemical, molecular and cytogenetic features observed in these cases

The clustering of Galaxies in the SDSS-III Baryon Oscillation Spectroscopic Survey : including covariance matrix errors

JP acknowledges support from the UK Science & Technology Facilities Council (STFC) through the consolidated grant ST/K0090X/1 and from the European Research Council through the ‘Starting Independent Research’ grant 202686, MDEPUGS. AGS acknowledges support from the Trans-regional Collaborative Research Centre TR33 ‘The Dark Universe’ of the German Research Foundation (DFG).We present improved methodology for including covariance matrices in the error budget of Baryon Oscillation Spectroscopic Survey (BOSS) galaxy clustering measurements, revisiting Data Release 9 (DR9) analyses, and describing a method that is used in DR10/11 analyses presented in companion papers. The precise analysis method adopted is becoming increasingly important, due to the precision that BOSS can now reach: even using as many as 600 mock catalogues to estimate covariance of two-point clustering measurements can still lead to an increase in the errors of ∼20 per cent, depending on how the cosmological parameters of interest are measured. In this paper, we extend previous work on this contribution to the error budget, deriving formulae for errors measured by integrating over the likelihood, and to the distribution of recovered best-fitting parameters fitting the simulations also used to estimate the covariance matrix. Both are situations that previous analyses of BOSS have considered. We apply the formulae derived to baryon acoustic oscillation (BAO) and redshift-space distortion (RSD) measurements from BOSS in our companion papers. To further aid these analyses, we consider the optimum number of bins to use for two-point measurements using the monopole power spectrum or correlation function for BAO, and the monopole and quadrupole moments of the correlation function for anisotropic-BAO and RSD measurements.Publisher PDFPeer reviewe

Manual-protocol inspired technique for improving automated MR image segmentation during label fusion

Recent advances in multi-atlas based algorithms address many of the previous limitations in model-based and probabilistic segmentation methods. However, at the label fusion stage, a majority of algorithms focus primarily on optimizing weight-maps associated with the atlas library based on a theoretical objective function that approximates the segmentation error. In contrast, we propose a novel method-Autocorrecting Walks over Localized Markov Random Fields (AWoL-MRF)-that aims at mimicking the sequential process of manual segmentation, which is the gold-standard for virtually all the segmentation methods. AWoL-MRF begins with a set of candidate labels generated by a multi-atlas segmentation pipeline as an initial label distribution and refines low confidence regions based on a localized Markov random field (L-MRF) model using a novel sequential inference process (walks). We show that AWoL-MRF produces state-of-the-art results with superior accuracy and robustness with a small atlas library compared to existing methods. We validate the proposed approach by performing hippocampal segmentations on three independent datasets: (1) Alzheimer\u27s Disease Neuroimaging Database (ADNI); (2) First Episode Psychosis patient cohort; and (3) A cohort of preterm neonates scanned early in life and at term-equivalent age. We assess the improvement in the performance qualitatively as well as quantitatively by comparing AWoL-MRF with majority vote, STAPLE, and Joint Label Fusion methods. AWoL-MRF reaches a maximum accuracy of 0.881 (dataset 1), 0.897 (dataset 2), and 0.807 (dataset 3) based on Dice similarity coefficient metric, offering significant performance improvements with a smaller atlas library (\u3c 10) over compared methods. We also evaluate the diagnostic utility of AWoL-MRF by analyzing the volume differences per disease category in the ADNI1: Complete Screening dataset. We have made the source code for AWoL-MRF public at: https://github.com/CobraLab/AWoL-MRF

The Medical Research Council Myeloma IX trial: the impact on treatment paradigms*

Osteolytic bone disease is a hallmark of symptomatic multiple myeloma. Bisphosphonates have been the mainstay of treatment to preserve skeletal integrity and prevent skeletal-related events in patients with myeloma-related bone disease. Recently, the MRC Myeloma IX trial demonstrated for the first time improved survival and delayed disease progression with the use of an intravenous amino-bisphosphonate, zoledronic acid, vs. an oral agent, clodronate, with intensive and non-intensive anti-myeloma treatment regimens in patients with newly diagnosed multiple myeloma. These results validate a large body of preclinical, translational and other clinical data suggesting anti-myeloma effects of amino-bisphosphonates. In addition, this trial also provided the first head-to-head evidence for superiority of one bisphosphonate over another (zoledronic acid vs. clodronate) for reducing skeletal morbidity in patients with multiple myeloma, as well as a prospective comparison of toxicities. Despite the use of non-bortezomib containing anti-myeloma treatment regimens in the MRC Myeloma IX trial, these results are encouraging and provide an impetus to continue to evaluate current treatment guidelines for myeloma-associated bone disease