Covered call / Protective put - VALUE AT EXPIRATION
I might got this completely wrong, but I cannot get one thing out of my head.
VALUE AT EXPIRATION. I got confused with reading 60. Why is the value at expiration sometimes the value of an option, while other times it is the value of the position or (ct/pt and Vt)?
CFA books practice problems at the end of reading 60 got me confused. (I know these questions might sound stupid, it’s just that I cannot get my head around this :) )
What is that that I am not getting?
Study together. Pass together.
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