Judul: Penentuan Nilai Opsi Call Barrier dengan Dividen Tunggal di Bursa Efek Indonesia
Abstrak: A stock option contract is a contract containing a call option, which gives option holder the rights to buy a certain amount of the underlying assets of the contract. Barrier options are path-dependent exotics option that are similar in some ways to regular options, but they become activated or extinguished only if the underlying reaches a predetermined level. The value of a call option contract at the Indonesian Stock Exchange is influenced not only by underlying assets but also by a barrier as the controller of loss and profit, and dividend. Black-Scholes model is a continuous model, which is designed for pricing European option. In the case of American option, binomial lattice method can be used to calculate its price. This thesis presents a numerical study showing that the results using binomial lattice method are close to the results of Black-Sholes method. Furthermore, the model of barrier call options with a single dividend is applied to the case of stock at the Indonesian Stock Exchange. The results agree with the theory that has been developed. The price of barrier call options is lower compared to the regular call options and the dividend gives a negative impact to the option value.
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Judul: Barrier Option Pricing with Modified Monte Carlo Simulation
Abstrak: Opsi barrier merupakan salah satu opsi exotic yang sering diperjualbelikan di pasar keuangan derivatif karena harganya cenderung lebih murah dan kegunaannya dalam menanggulangi risiko lebih sesuai dibandingkan opsi vanilla. Oleh sebab itu, sangat penting untuk membangun metode yang efisien dan akurat untuk menentukan harga opsi barrier. Pada penelitian ini digunakan simulasi Monte Carlo yang telah dimodifikasi untuk menentukan harga opsi barrier. Ide dasar dari metode yang baru ini adalah memanfaatkan bilangan-bilangan acak yang menyebar seragam dan sebuah peluang untuk melakukan pendugaan waktu pertama kali harga saham menyentuh barrier. Data yang digunakan adalah data harga saham BBRI periode 30 Januari 2015 – 30 Oktober 2015 dengan total 122 data. Secara numerik telah ditunjukkan bahwa nilai yang dihasilkan dengan simulasi Monte Carlo yang telah dimodifikasi lebih mendekati solusi analitik daripada nilai yang dihasilkan dengan simulasi Monte Carlo biasa., Barrier options are one of the exotic options that are often traded in the derivative financial market because they tend to be cheaper and their use in overcome risk is more suitable than vanilla options. Therefore, it is very important to develop an efficient and accurate method to determine the price of barrier options. In this study, a modified Monte Carlo simulation is used to determine the price of barrier options. The basic idea of this new method is to take advantage of uniformly distributed random numbers and a probability to estimate the first time the stock price hits the barrier. The data used is BBRI stock price data for the period 30 January 2015 – 30 October 2015 with a total of 122 data. It has been shown numerically that the value produced by the modified Monte Carlo simulation is closer to the analytical solution than the value produced by the regular Monte Carlo simulation.
Keyword: barrier option, modified Monte Carlo simulation, stock, uniform distribution

Judul: Studi Kasus Diagnosis Pencitraan Gangguan Saluran Pencernaan Atas Anjing Schnauze
Abstrak: The aim of this study was to learn the role of diagnostic imaging to define the diagnose of the upper gastrointestinal tract disorder of the Schnauzer. The information from the owner (anamneses) stated that the dog has been vomiting for a year, sometimes containing blood. There might also be a possibility that it had eaten a corpus alineum. This study case covered physical examination, hematology and blood chemical analysis, radiography, ultrasonography, and endoscopy performed. Physical examination showed weight loss and anorexia. Hematology and blood chemical analysis showed an increase in lymphocyte, haemoglobin (Hb), haemotocrit (Hct), ureum, creatinine, alanin aminotransferase (ALT), and alkaline phosphatase (ALP). Abdominal radiograph showed no abnormality in the abdominal organs. Abdominal ultrasonography showed a hyperechoic mass on the stomach mucosal surface. The mass forms an acoustic shadowing at the ventral. The acoustic shadowing in the stomach may be caused by an accumulation of gas or foreign object such as bone. Endoscopy showed that there was inconsistency of stomach mucosa surface, foamy bile fluid in the stomach, ulcers, and erosion of the stomach mucosal surface. Based on the endoscopy performed, the animal was clearly diagnosed with chronic gastritis accompanied by stomach ulcer and erosion.
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