Judul: Determination of Hedge Ratio for European Call and Put Option with Black- Scholes Model.
Abstrak: One of the alternative investment that offered in the world market is derivative product. A derivative product, such as option, represents a financial instrument which value is based on certain asset value which is called underlying asset. Option is a contract between two parties (the holder and the seller) where the holder has the right to buy or sell the underlying asset by a certain date for a certain price. This paper will study European option calculated by using Black-Scholes model to obtain value of call and put option. One of the usefulness of Black-Scholes formula is as a mean to control the risk of portfolio. Generally, the technique to control the risk is called sensitivity of option value (Greeks). Greeks consist of delta, gamma, theta, vega, and rho. In this paper, we only examine delta hedging to obtain the portfolio that replicate option price.
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Judul: Perbandingan nilai opsi call tipe Eropa dengan perluasan model Vasicek dan model Cox-Ingersoll-Ross
Abstrak: Derivative product is a financial instrument whose value depends on the value of the underlying asset. One of the derivative product is a European option, which has the form of either call or put option. To determine the value of a European call option some models could be used, such as Vasicek and the Cox-Ingersoll-Ross model (CIR). Vasicek model may result in a negative interest rate, so that CIR model can be considered as an alternative in order to obtain nonnegative interest rates. This article discusses the European call option with a zero coupon bond as an underlying asset. The discussion includes the analysis and application of Vasicek and CIR models. The simulation results show that European call option price given by the extended Vasicek model and CIR model are similar.
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Judul: Enteric Collibacillosis Pada Anak Babi Baru Lahir: Patogenesa dan Perubahan-Perubahan Patologisnya
Abstrak: Diare disebabkan oleh infeksi bakteri Escherichia coli pada anak-anak babi baru lahir yang peka terhadap en terotoksin produk bakteri tersebut. Dikenal sebagai colibacillosis. Patogenesa dari colibacillosis anak babi baru lahir adalah (1) infeksi oleh E. coli patogen, (2) proliferasi E. coli di lumen usus halus, (3) produksi dan pelepasan enterotoksin, dan (4) aktifitas toksin pada usus halus. Dalam proses proliferasi, adanya antigen pili K88 sangat penting karena memungkinkan bakteri perlekatan dengan epitel mucosa usus halus. mengadakan Setelah ko lonisasi dan proliferasi segera toksin dilepaskan. Akti- fitas toksin menginduksi sekresi yang berlebihan dari u- sus sehingga banyak cairan yang dikeluarkan ke lumen usus. Hal ini mengakibatkan banyak cairan dan elektrolit hilang sehingga timbul diare, dehidrasi dan asidosis yang sering menyebabkan kematian. Perubahan-perubahan patologis yang umum adalah dis tensi usus halus, dilatasi lambung dan infark pada kurva- tura mayor. Perubahan-perubahan histologis yang terjadi adalah enteritis hemorrhagica acuta, oedem dan kongesti pembuluh darah di lamina propria, akumulassi leukosit inti polimorf, sel monosit, dan inti sel mengalami piknosis Thrombus pada vena dan degenerasi serta desquamasi sel epitel usus….
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