Who explained market-neutral delta hedging
Who explained market-neutral delta hedging?
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1970 Arnold Bernhard & Co explained market-neutral delta hedging of convertible warrants and bonds. And demonstrates, that how to numerically get an approximation to the delta.
Stock variable: It is a variable whose value is measured or evaluated at a point of time.
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If the model could not even find bond prices right, how could this hope to accurately value bond options?
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