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Emilio Barone (Translator of Opzioni, Futures e Altri Derivati)
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Delta is always positive for long calls and negative for long puts, since the delta of underlying asset is always 1. Being relatively simple, the model is hull opzioni futures e altri derivati indice implementable in computer software, although computationally slower than the Black—Scholes formula, it hll more accurate, particularly for longer-dated options on securities with dividend payments.
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John C. Hull
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