NO.PZ2020012005000012
问题如下:
Is the futures price of a non-dividend paying stock likely to be greater or less than the expected future stock price? Explain your argument.
选项:
解释:
The futures price is the spot price compounded forward at the risk-free rate. Most stocks can be expected to provide a return greater than the risk-free rate. Hence, the expected future stock price is greater than the forward price.
futures price of a non-dividend paying stock & the expected future stock price分别是指什么?为什么答案会联系到forward price呢