Pricing holder-extendable options in a stochastic volatility model with an ornstein-uhlenbeck process

Holder-extendable options are characterized by two maturity dates, which means the option can be exercised at either the expiration date or the extended maturity date. This paper develops a pricing framework for holder-extendable options which deals with the extended version of a stochastic volatility model with an Ornstein-Uhlenbeck (OU) process. The extended model allows correlation between volatility and asset returns. The method uses Fourier inversion techniques that does not require an initial guess of the characteristic functions. A closed-form pricing formula for holder-extendable options is derived for logarithmic asset price dynamics

PERAN ORANG TUA DALAM MENINGKATKAN MOTIVASI BELAJAR SISWA KELAS V DI SEKOLAH DASAR INPRES ILIGETANG

Penelitian ini bertujuan untuk mengetahui peran orang tua dalam meningkatkan prestasi belajar anak di Sekolah Dasar Inpres Iligetang tahun ajaran 2016/2017. Selain itu tujuan lain dari penelitian ini adalah untuk menyadarkan para orang tua wali siswa kelas V Sekolah Dasar inpres Iligetang Tahun Ajaran 2016/2017 agar menerapkan peran orang tua dalam meningkatkan motivasi belajar siswa. Penelitian ini merupakan Penelitian kualitatif deskriptif. Dalam penelitian ini peneliti menggunakan pengumpulan data dengan metode observasi, wawancara dan dokumentasi. Subjek penelitian adalah siswa kelas V SD Inpres Iligetang Maumere yang berjumlah 25 siswa yang terdiri dari 10 laki-laki dan 15 perempuan. Sumber data berasal dari guru dan orang tua siswa atau wali. Teknik pengambilan sampel sebagai sumber data dalam penelitian adalah snowball sampling. Validitas data dalam penelitian ini menggunakan teknik keabsahan konstruk, keabsahan internal, keabsahan eksternal dan reliabilitas. Prosedur penelitian melalui 3 tahap yaitu tahap penjajagan, eksplorasi dan tahap member chek . Hasil penelitian menunjukan bahwa melalui peran orang tua dalam belajar siswa dapat meningkatkan motivasi belajar siswa. Peningkatan prestasi belajar siswa menunjukan suatu hasil yang positif dari sebelumnya. Terbukti dari nilai-nilai yang diperoleh di kelas dan juga melalui tugas yang diberikan oleh guru. Simpulan penelitian ini adalah penerpan peran orang tua dapat meningkatkan motivasi belajar siswa

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

Abrasion resistance and compressive strength of unprocessed rice husk ash concrete

This paper investigates the effects of adding natural rice husk ash collected from uncontrolled burning and without previous grinding (NRHA) as cement replacement in concrete. To obtain an adequate particle size, NRHA was mixed with coarse aggregate for a convenient period of time before adding the other components. Compressive strength, water absorption, porosity, and abrasion resistance expressed as weight loss were examined. Test results show that decreasing the particle size through mixing with coarse aggregate improved the compressive strength, reduced the permeability, and increased the abrasion resistance of concrete. By mixing NRHA with aggregate for 8 min, abrasion resistance improved by 10.35 and 23.62% over the control concrete at 28 and 91 days, respectively. Incorporating NRHA in concrete by grinding with coarse aggregate during the mixing process could be suitable for making normal-strength concrete and for applications where abrasion resistance is an important parameter. In addition, using NRHA as a partial replacement cement contributes to the reduction of CO2 emissions due to the production of cement

The Great Flood and its Aftermath in Kashmir Valley: Impact, Consequences and Vulnerability Assessment

Floods have serious implications on land and people. They disrupt the ecological balance, hamper the economic development, affect the social fabric of the society, create chaos, damage the infrastructure, put constraints on the movement of people and create displacement of millions of people. In 2014, Kashmir Valley witnessed the worst flood in the last 100 years. The impact of the flood is still felt in the Kashmir Valley, which has changed the perception of the people of the valley regarding floods. The flood had enormous impact on environment, economy, society, political set up and all the aspects of life. The present study analyses the impact of the 2014 flood in Kashmir valley and its aftermath. It analyses the physical and social vulnerability of different districts regarding floods and analyses the variability of the impact. The study is based on primary as well as secondary sources of data, and the data was analysed by statistical techniques like Z-score and composite Z-score and also remote sensing techniques and GIS