Before revision:  Furthermore, we extend the analysis to the two-marginal case, where we provide candidates for the optimal hedging strategies, and, we construct a new solution to the two-marginal SEP as a generalization of the Vallois embedding .
After revision:  Furthermore, we extend the analysis to the two-marginal case, where we provide candidates for the optimal hedging strategies, and, we construct a new solution to the two-marginal SEP as a generalization of the Vallois solution. It turns out from our analysis that one needs to relax the monotonicity assumption on the embedding functions in order to embed a larger class of marginal distributions .