何謂 approximate moneyness?

請問 Control sample based on approximate moneyness:

Section 4.2 uses prior stock returns to identify control firms that do not reprice

despite negative return shocks that plausibly cause their options to go underwater.

This section attempts to further refine control sample comparisons by conditioning

more directly on the underwater nature of outstanding ESOs.

Hence, the ratio of the current year strike to the two-year-back lagged strike is a rough measure of the moneyness of previously granted options. 是什麼意思呢?

1 Answer

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  • hooya
    Lv 7
    2 decades ago
    Favorite Answer

    沒看到 Section 4.2 的內容, 不過我想它是在講這個

    (in the money v.s out of the money)

    Moneyness

    From Wikipedia, the free encyclopedia.

    An option is at-the-money if the strike price, i.e., the price the option holder must pay to exercise the option, is the same as the current price of the underlying security on which the option is written. An out-of-the-money option currently has no intrinsic value - e.g. a call option is out-the-money if the strike price ("the strike") is higher than the current underlying price. An in-the-money option conversely does have intrinsic value. The strike price of an in-the-money call option is lower than the current underlying price.

    Source(s): Wikipedia
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