NO.PZ201702190300000106
问题如下：
The most appropriate response to Troubadour’s supervisor’s question regarding the TSI forward contract is:
选项：
A.a decrease in TSI’s share price, all else equal.
B.an increase in the risk-free rate, all else equal
C.a decrease in the market price of the forward contract, all else equal.
解释：
B is correct.
From the perspective of the long position, the forward value is equal to the present value of the difference in forward prices:
Vt(T)= PVt,T[Ft(T)-F0(T)]
where Ft(T) =FVt,T(St+θt-γt)
All else equal, an increase in the risk-free rate before contract expiration would cause the forward price, Ft(T), to increase. This increase in the forward price would cause the value of the TSI forward contract, from the perspective of the short, to decrease. Therefore, an increase in the risk-free rate would lead to a loss on the short position in the TSI forward contract.
老师好 short equity forward at 250.562289 不是指我希望以后price 低于 250.562289 的时候 我就可以以 250.562289 的价格sell 掉TSI shares 吗？也就是说我是希望以后TSI 's share price 越低越好。 选项A 和B 不都是表示TSI share price 会drop 嘛， 那不都是对我来说是gain 吗？ 谢谢。
