Bargain-Purchase-Price Option

2011 ◽  
Keyword(s):  
Purchase Price ◽  
Price Option

scholarly journals PENENTUAN HARGA OPSI BELI ATAS SAHAM PT. ANTAM (PERSERO) MENGGUNAKAN MODEL BINOMIAL FUZZY

2018 ◽  
Vol 19 (1) ◽  
pp. 8-24
Author(s):  
Agung Prabowo ◽  
Zulfatul Mukarromah ◽  
Lisnawati Lisnawati ◽  
Pramono Sidi
Keyword(s):  
Stock Price ◽  
Market Price ◽  
Option Price ◽  
Risk Level ◽  
Binomial Model ◽  
Purchase Price ◽  
Option Prices ◽  
Movement Data ◽  
Curve Representation ◽  
Price Option

Option is a financial instrument where price depends on the underlying stock price. The pricing of options, both selling options and purchase options, may use the CRR (Cox-Ross-Rubinstein) binomial model. Only two possible parameters were used that is u if the stock price rises and d when the stock price down. One of the elements that determine option prices is volatility. In the binomial model CRR volatility is constant. In fact, the financial market price of stocks fluctuates so that volatility also fluctuates. This article discusses volatility of fluctuating stock price movements by modeling it using binomial fuzzy with triangular curve representation. The analysis is carried out in relation to the existence of three interpretations of the triangular curve representation resulting in different degrees of membership. In addition to volatility, this study added the size or risk level ρ. As an illustration, this study used stock price movement data from PT. Antam (Persero) from August 2015 until July 2016. The results of one period obtained from the purchase price option for August 2016 with the largest volatility, medium and smallest respectively were Rp.143,43, Rp.95,49, and Rp.79,00. There was calculated at the risk level of  ρ = 90%. The degree of membership for each option price varies depending on the interpretation of the triangle curve representation.   Opsi merupakan instrumen keuangan yang harganya tergantung pada harga saham yang mendasarinya. Penentuan harga opsi, baik opsi jual maupun opsi beli dapat menggunakan model binomial CRR (Cox-Ross-Rubinstein). Dalam model ini hanya dimungkinkan adanya dua parameter yaitu u apabila harga saham naik dan d pada saat harga saham turun. Salah satu unsur yang menentukan harga opsi adalah volatilitas. Dalam model binomial CRR digunakan volatilitas yang bersifat konstan. Padahal, pada pasar keuangan pergerakan harga saham mengalami fluktuasi sehingga volatilitas juga menjadi fluktuatif. Artikel ini membahas volatilitas pergerakan harga saham yang fluktuatif dengan memodelkannya menggunakan binomial fuzzy dengan representasi kurva segitiga. Analisis dilakukan terkait dengan adanya tiga interpretasi terhadap representasi kurva segitiga tersebut yang menghasilkan derajat keanggotaan yang berbeda. Selain volatilitas, dalam penelitian ini ditambahkan ukuran atau tingkat risiko ρ. Sebagai ilustrasi, digunakan data pergerakan harga saham PT. Antam (Persero) dari Agustus 2015 hingga Juli 2016. Hasil penelitian dengan perhitungan satu periode diperoleh hasil harga opsi beli untuk bulan Agustus 2016 dengan volatilitas terbesar, menengah, dan terkecil masing-masing adalah Rp.143,43, Rp.95,49, dan Rp.79,00 yang dihitung pada tingkat risiko ρ = 90%. Derajat keanggotaan untuk masing-masing harga opsi berbeda-beda tergantung pada interpretasi dari representasi kurva segitiga.

scholarly journals Using point-of-sale data to examine tobacco pricing across neighbourhoods in Scotland

2020 ◽  
pp. tobaccocontrol-2019-055484 ◽  
Author(s):  
Niamh K Shortt ◽  
Helena Tunstall ◽  
Richard Mitchell ◽  
Emma Coombes ◽  
Andy Jones ◽  
...  
Keyword(s):  
Purchase Price ◽  
Retail Outlet ◽  
Point Of Sale ◽  
Deprived Neighbourhoods ◽  
Convenience Stores ◽  
Neighbourhood Level ◽  
Outlet Density ◽  
Urban Rural ◽  
Multivariable Regression ◽  
Total Sales

ObjectivesTo assess the geographical variation in tobacco price (cigarettes and roll-your-own (RYO) tobacco) in convenience stores across Scotland and how this relates to neighbourhood income deprivation, tobacco retail outlet density and urban/rural status.MethodsTobacco price data from 124 566 shopping baskets purchased in 274 convenience stores during 1 week in April 2018 were obtained through an electronic point-of-sale system. These data were combined with neighbourhood-level measures of income deprivation, tobacco retail outlet density and urban/rural status. We examined brand price for 12 of the most popular cigarette brands and 3 RYO brands and variations in purchases by price segment; multivariable regression analysis assessed associations between area variables and tobacco price.ResultsMost stores sold tobacco in all price segments. The lowest priced subvalue brands were the most popular in all neighbourhoods but were most dominant in shops in more deprived neighbourhoods. When total sales were assessed, overall purchase price varied significantly by neighbourhood income deprivation; packets of 20 cigarettes were 50 pence (5.6%) lower and RYO 34 pence (2.7%) lower among shops in the two highest income deprivation quintiles relative to the lowest. Analysis of individual brands showed that for 3 of the 12 cigarette brands considered, average prices were 12–17 pence lower in more deprived neighbourhoods with the most popular RYO brand 15 pence lower. There was limited evidence of a relationship with tobacco retail outlet density.ConclusionAcross Scottish convenience stores, the purchase price of cigarettes and RYO was lower in more income-deprived neighbourhoods. The lower prices primarily reflect greater sales of cheap brands in these areas, rather than retailers reducing the prices of individual brands.

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