AAPL US$ 148.755 -3.795 Q148.74/148.760 11x5 At 15:53 d Vol 47,763,616 0 150.20Z H 151.30P L 148.405F Val 7.1468 AAPL US Equity 99 Actions 90 Export. 97) Settings. -3.795 APPLE INC 1148.755 -2.4877 Strikes Center Calc Mode 10 Center Strike 13 Calls/Puts 148.70 Ticker Bid Ask 5.70 5.80 5.10 17-Mar-23 (244); CSize 100; R 4.86; IFwd 148.99 DAAPL 3/17/23 C147 3 AAPL 3/17/23 (148 3AAPL 3/17/23 C149 4 AAPL 3/17/23 C150 9AAPL 3/17/23 C152.5 4.55 4.05 2.90 @AAPL 4/21/23 C140 AAPL 4/21/23 C145 BAAPL 4/21/23 C150 AAPL 4/21/23 C155 10 AAPL 4/21/23 C160 21-Apr-23 (59d); CSize 100; R 4.86; IFwd 149.68 13.25 Exp 17-Mar-23. 10 AAPL 5/19/23 C140 13 AAPL 5/19/23 C145 13 AAPL 5/19/23 C150 Calls Puts Calls 14 AAPL 5/19/23 C155 19 AAPL 5/19/23 C160 18 AAPL 6/16/23 C140 17) AAPL 6/16/23 C145 18 AAPL 6/16/23 C150 19 AAPL 6/16/23 C155 20 AAPL 6/16/23 C160 13.05 9.65 6.70 4.35 2.61 11.70 19-May-23 (87d); CSize 100; IDiv .15 USD; R 4.86; IFwd 150.12 15.00 8.80 6,40 4.40 4.65 4.10 2.92 16.40 13.15 10.25 9.80 6.80 7.75 5.65 4.40 2.62 148.74/148.75 Exch US Composite As of 21-Feb-202) = 15 Term Structure Last 5.70 5.05 4.60 29.51 4.10 29.15 2.93 28.32 15.15 11.80 8.90 6.45 4.50 13.00 31.19 9.70 29.88 6.65 28.35 4.39 27.09 2.60 26.04 TVM 30.14 29.76 16-Jun-23 (115d); CSize 100; IDiv .15 USD; R 5.03; IPwd 150.72 16.65 16.35 31.86 13.30 13.02 30.72 10.35 10.30 29.55 7.85 7.69 28.59 5.75 5.70 27.75 15.60 32.33 31.11 30.07 28.96 4.43 28.05 6,44 11.80 8.89 Honeyness Volm Strike HI 151.30 Lo 148.405 13 04/28/23 E | ERN Puts Bid Ask Ticker 17-Mar-23 (24d); CSize 100; R 4.86; IFwd 148.99 31 147.00 70 AAPL 3/17/23 P147 3.50 3.55 3.90 4.00 4.35 4.45 45 148.00 7 AAPL 3/17/23 P148 12943 149.00 70 AAPL 3/17/23 P149 7804 150.00 70 AAPL 3/17/23 P150 1438 152.50 10 AAPL 3/17/23 P152.5 4.90 6.25 21-Apr-23 (59); CSize 100; R 4.86; IFwd 149.68 3.25 3.30 4.80 234 140.000AAPL 4/21/23 P140 521 145.0043AAPL 4/21/23 P145 1215 150.0043AAPL 4/21/23 P150 4156 155.0004AAPL 4/21/23 P155 3897 160.0009AAPL 4/21/23 P160 Volm 47763616 4.85 6.15 311 140.00110AAPL 6/16/23 P140 154 145.00113AAPL 6/16/23 P145 1246 150.00113AAPL 6/16/23 P150 1489 155.00114AAPL 6/16/23 P155 984 160.00119AAPL 6/16/23 P160 Last Option Monit HV 24.32 IVM 3.60 30.17 3.95 29.85 4.50 29,40 40 71 5 4.85 29.22 102 6.38 28.20 21 3.30 30.97 4.80 29.75 6.94 28.43 9.65 12.80 4.85 6.85 6.90 9.45 9.60 12.75 12.95 19-May-23 (87); CSize 100; IDiv.15 USD; R 4.86; IPwd 150.12 4.85 4.90 6.50 6.60 6.50 31.28 8.60 4.90 32.47 30.19 22 140.00100AAPL 5/19/23 P140 358 145.00AAPL 5/19/23 P145 1067 150.0000AAPL 5/19/23 P150 8.70 8.70 1528 155.0000AAPL 5/19/23 P155 11.10 11.25 11.07 29.00 1135 160.00110APL 5/19/23 P160 14.10 14.30 14.40 27.89 16-Jun-23 (115d); CSize 100; IDiv.15 USD; R 5.03; IFwd 150.72 5.75 5.85 5.73 31.94 7.45 7.55 7.59 30.74 9.55 9.60 9.60 29.65 28.68 27.61 11.95 12.15 12.10 14.85 15.10 14.90 27,43 25.88 The table gives prices for option on Apple (AAPL) stock for various strikes and expirations. The current price of AAPL is $148.755. Locate the calls that expire on June 16th 2023 (Lower left hand side) Visible strikes: $140, $145, $150, $155, and $160 Bid-side prices: $16.20, $12.24, $10.10, $7.60, and $5.55. Look at the call price differences as you from $140 to $145 strike... up to $155 to $160 strike. Why do the price differences decline monotonically? Voli Examine the prices of the $150 strike calls for the 4 different expiries: March, April, May, June. As a function of time to expiration does the price dependency look linear? | 45 29( 350 40 23 61! 40 14 ERE 13 231 174 9 11
AAPL US$ 148.755 -3.795 Q148.74/148.760 11x5 At 15:53 d Vol 47,763,616 0 150.20Z H 151.30P L 148.405F Val 7.1468 AAPL US Equity 99 Actions 90 Export. 97) Settings. -3.795 APPLE INC 1148.755 -2.4877 Strikes Center Calc Mode 10 Center Strike 13 Calls/Puts 148.70 Ticker Bid Ask 5.70 5.80 5.10 17-Mar-23 (244); CSize 100; R 4.86; IFwd 148.99 DAAPL 3/17/23 C147 3 AAPL 3/17/23 (148 3AAPL 3/17/23 C149 4 AAPL 3/17/23 C150 9AAPL 3/17/23 C152.5 4.55 4.05 2.90 @AAPL 4/21/23 C140 AAPL 4/21/23 C145 BAAPL 4/21/23 C150 AAPL 4/21/23 C155 10 AAPL 4/21/23 C160 21-Apr-23 (59d); CSize 100; R 4.86; IFwd 149.68 13.25 Exp 17-Mar-23. 10 AAPL 5/19/23 C140 13 AAPL 5/19/23 C145 13 AAPL 5/19/23 C150 Calls Puts Calls 14 AAPL 5/19/23 C155 19 AAPL 5/19/23 C160 18 AAPL 6/16/23 C140 17) AAPL 6/16/23 C145 18 AAPL 6/16/23 C150 19 AAPL 6/16/23 C155 20 AAPL 6/16/23 C160 13.05 9.65 6.70 4.35 2.61 11.70 19-May-23 (87d); CSize 100; IDiv .15 USD; R 4.86; IFwd 150.12 15.00 8.80 6,40 4.40 4.65 4.10 2.92 16.40 13.15 10.25 9.80 6.80 7.75 5.65 4.40 2.62 148.74/148.75 Exch US Composite As of 21-Feb-202) = 15 Term Structure Last 5.70 5.05 4.60 29.51 4.10 29.15 2.93 28.32 15.15 11.80 8.90 6.45 4.50 13.00 31.19 9.70 29.88 6.65 28.35 4.39 27.09 2.60 26.04 TVM 30.14 29.76 16-Jun-23 (115d); CSize 100; IDiv .15 USD; R 5.03; IPwd 150.72 16.65 16.35 31.86 13.30 13.02 30.72 10.35 10.30 29.55 7.85 7.69 28.59 5.75 5.70 27.75 15.60 32.33 31.11 30.07 28.96 4.43 28.05 6,44 11.80 8.89 Honeyness Volm Strike HI 151.30 Lo 148.405 13 04/28/23 E | ERN Puts Bid Ask Ticker 17-Mar-23 (24d); CSize 100; R 4.86; IFwd 148.99 31 147.00 70 AAPL 3/17/23 P147 3.50 3.55 3.90 4.00 4.35 4.45 45 148.00 7 AAPL 3/17/23 P148 12943 149.00 70 AAPL 3/17/23 P149 7804 150.00 70 AAPL 3/17/23 P150 1438 152.50 10 AAPL 3/17/23 P152.5 4.90 6.25 21-Apr-23 (59); CSize 100; R 4.86; IFwd 149.68 3.25 3.30 4.80 234 140.000AAPL 4/21/23 P140 521 145.0043AAPL 4/21/23 P145 1215 150.0043AAPL 4/21/23 P150 4156 155.0004AAPL 4/21/23 P155 3897 160.0009AAPL 4/21/23 P160 Volm 47763616 4.85 6.15 311 140.00110AAPL 6/16/23 P140 154 145.00113AAPL 6/16/23 P145 1246 150.00113AAPL 6/16/23 P150 1489 155.00114AAPL 6/16/23 P155 984 160.00119AAPL 6/16/23 P160 Last Option Monit HV 24.32 IVM 3.60 30.17 3.95 29.85 4.50 29,40 40 71 5 4.85 29.22 102 6.38 28.20 21 3.30 30.97 4.80 29.75 6.94 28.43 9.65 12.80 4.85 6.85 6.90 9.45 9.60 12.75 12.95 19-May-23 (87); CSize 100; IDiv.15 USD; R 4.86; IPwd 150.12 4.85 4.90 6.50 6.60 6.50 31.28 8.60 4.90 32.47 30.19 22 140.00100AAPL 5/19/23 P140 358 145.00AAPL 5/19/23 P145 1067 150.0000AAPL 5/19/23 P150 8.70 8.70 1528 155.0000AAPL 5/19/23 P155 11.10 11.25 11.07 29.00 1135 160.00110APL 5/19/23 P160 14.10 14.30 14.40 27.89 16-Jun-23 (115d); CSize 100; IDiv.15 USD; R 5.03; IFwd 150.72 5.75 5.85 5.73 31.94 7.45 7.55 7.59 30.74 9.55 9.60 9.60 29.65 28.68 27.61 11.95 12.15 12.10 14.85 15.10 14.90 27,43 25.88 The table gives prices for option on Apple (AAPL) stock for various strikes and expirations. The current price of AAPL is $148.755. Locate the calls that expire on June 16th 2023 (Lower left hand side) Visible strikes: $140, $145, $150, $155, and $160 Bid-side prices: $16.20, $12.24, $10.10, $7.60, and $5.55. Look at the call price differences as you from $140 to $145 strike... up to $155 to $160 strike. Why do the price differences decline monotonically? Voli Examine the prices of the $150 strike calls for the 4 different expiries: March, April, May, June. As a function of time to expiration does the price dependency look linear? | 45 29( 350 40 23 61! 40 14 ERE 13 231 174 9 11
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:AAPL US $
148.755 -3.795
0148.74/148.760 11x5
At 15:53 d Vol 47,763,616 0 150.20Z H 151.30P L 148.405F Val 7.146B
AAPL US Equity 99) Actions
97) Settings.
-2.4877
APPLE INC
Center
Calc Mode
10 Center Strike 13 Calls/Puts
90 Export -
1148.755 -3.795
Strikes 5 Exp 17-Mar-23 -
148.70
Ticker
Bid
Ask
17-Mar-23 (24d); CSize 100; R 4.86; IFwd 148.99
5.80
5.20
4.65
4.10
2.92
13.05
13.25
21-Apr-23 (59d); CSize 100; R 4.86; IFwd 149.68
@AAPL 4/21/23 C140
AAPL 4/21/23 C145
SAAPL 4/21/23 C150
9.65
9.80
6.80
AAPL 4/21/23 C155
100 AAPL 4/21/23 C160
DAAPL 3/17/23 C147
3 AAPL 3/17/23 C148
3 AAPL 3/17/23 C149
4 AAPL 3/17/23 C150
9 AAPL 3/17/23 C152.5
10 AAPL 5/19/23 C140
13 AAPL 5/19/23 C145
13 AAPL 5/19/23 C150
14 AAPL 5/19/23 C155
19 AAPL 5/19/23 C160
Calls 19 Puts
Calls
18 AAPL 6/16/23 C140
17) AAPL 6/16/23 C145
18 AAPL 6/16/23 C150
5.70
5.10
4.55
4.05
2.90
19 AAPL 6/16/23 C155
200 AAPL 6/16/23 C160
6.70
4.35
2.61
19-May-23 (87d); CSize 100; IDiv .15 USD; R 4.86; IFwd 150.12
15.00
15.15
11.70
11.80
8.80
8.90
6.40
6.45
4.40
4.50
4.40
2.62
148.74/148.75
Exch US Composite
As of 21-Feb-2023
1 Term Structure
13.30
10.35
Last
5.70
5.05
4.60
4.10
2.93
4.43
16-Jun-23 (115d); CSize 100; IDiv .15 USD; R 5.03; IFwd 150.72
16.40
16.65
16.35
13.15
13.02
10.25
10.30
7.75
5.65
7.85
5.75
13.00
9.70
6.65
4.39
2.60
IVM
30.14
29.76
29.51
29.15
28.32
15.60 32.33
11.80 31.11
8.89 30.07
28.96
28.05
7.69
5.70
31.19
29.88
28.35
27.09
26.04
31.86
30.72
29.55
28.59
27.75
Moneyness
Strike
Hi 151.30
Lo 148.405
13 04/28/23 E | ERN
Volm
3.55
Ticker
Bid Ask
17-Mar-23 (24d); CSize 100; R 4.86; IFwd 148.99
31 147,00 70 AAPL 3/17/23 P147
3.50
45 148.00 77) AAPL 3/17/23 P148
12943 149.00 70 AAPL 3/17/23 P149
7804 150.00 70 AAPL 3/17/23 P150
1438 152.50 10 AAPL 3/17/23 P152.5
4.00
234 140.000AAPL 4/21/23 P140
521 145.00113AAPL 4/21/23 P145
1215 150.00113AAPL 4/21/23 P150
4156 155.00104AAPL 4/21/23 P155
3897160.00109 APL 4/21/23 P160
Volm 47763616
311 140.00110AAPL 6/16/23 P140
154 145.00112AAPL 6/16/23 P145
1246 150.00113AAPL 6/16/23 P150
1489 155.00114AAPL 6/16/23 P155
984 160.00119AAPL 6/16/23 P160
Puts
5.75
7.45
9.55
11.95
14.85
Last
4.45
4.90
6.25
3.90
4.35
4.85
6.15
21-Apr-23 (59d); CSize 100; R 4.86; IFwd 149.68
3.25
3.30
3.30
30.97
4.90
4.85
4.80 29.75
6.85
6.90
6.94 28.43
27.43
9.45 9.60 9.65
12.75 12.95 12.80 25.88
6.50
6.60
19-May-23 (87d); CSize 100; IDİv .15 USD; R 4.86; IPwd 150.12
22 140.00100AAPL 5/19/23 P140
4.85 4.90
358 145.001AAPL 5/19/23 P145
1067 150.00108AAPL 5/19/23 P150
1528 155.00109AAPL 5/19/23 P155
1135 160.00110 AAPL 5/19/23 P160
16-Jun-23 (115d); CSize 100; IDiv .15 USD; R 5.03; IFwd 150.72
8.60
8.70
11.10
11.25
14.10
14.30
5.85 5.73 31.94
7.55
30.74
7.59
9.60 9.60 29.65
12.15 12.10 28.68
15.10 14.90 27.61
Option Monit
HV 24.32
IVM Voli
3.60 30.17
3.95 29.85
4.50 29.40
4.85 29.22
6.38
28.20
32.47
31.28
4.90
6.50
8.70
11.07
14.40 27.89
30.19
29.00
The table gives prices for option on Apple (AAPL) stock for various strikes and expirations. The current
price of AAPL is $148.755. Locate the calls that expire on June 16th 2023 (Lower left hand side)
Visible strikes: $140, $145, $150, $155, and $160
Bid-side prices: $16.20, $12.24, $10.10, $7.60, and $5.55.
Look at the call price differences as you from $140 to $145 strike... up to $155 to $160 strike. Why do
the price differences decline monotonically?
Examine the prices of the $150 strike calls for the 4 different expiries: March, April, May, June. As a
function of time to expiration does the price dependency look linear?
40
7{
5
1025
21
45%
290
350
40
23
615
48
144
80
13
235
174
9
11
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