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I also received on 1st Nov in Singapore.

Submitted on 3rd July , received on 26th July

Passed . Thanks @David Harper CFA FRM

hi @David Harper CFA FRM thanks again. However I don't have access to that spreadsheet. But I am able to replicate the above in Excel myself .Got my conception clear now :)

hi @Nicole Seaman I posted in wrong section ,please move this thread to P2.T8. Investment Management . Thanks

hi, how did we conclude the last line when payoffs are constant ?

thanks @David Harper CFA FRM . yes I agree they are best understood in the spreadsheet :)

hi, a. What is the difference between long-run value of the short-term rate & the long-run true rate of interest ? b. Why Vasicek model will produce a term structure of volatility that is declining ?

hi, Why the shape of term structure is downward sloping for model 1 though middle node is recombining in rate tree?

thanks .That's really helpful to see the proof :) @David Harper CFA FRM

hi @David Harper CFA FRM trying to understand ES formula mentioned above , NORM.S.DIST(NORM.S.INV(0.99),FALSE)/(1-0.99 ) returns to pdf value at 2.32 divided by 0.01. But not able to relate to Dowd definition ( refer attached) .

Pass 1111 . Thanks BT

thanks @David Harper CFA FRM . your old thread on this really makes sense.

Hi , The forward contact price F(t,T) = s(t) - ke^(-r*(T-t)) . In that case df/ds ( delta)=1 . But mathematically howz that different for future contract price since dr/ds=0. So delta would be 1 mathematically. Am I missing something?

Hi, These are 3 investment scenario mentioned below in page# 4"https://www.cmegroup.com/trading/interest-rates/files/understanding-eurodollar-futures.pdf" E.g., consider the following interest rate structure in the Eurodollar (Euro) futures and cash markets. Assume that it is now December...

Thanks @David Harper CFA FRM . This is my understanding as well . But I thought hull's example mentioned cash price as 104 so the traded price would be 100 in this case.

Should we not equate to bond quoted price i.e 100 instead of cash price @David Harper CFA FRM ? Am I missing something! :(

Thanks a ton @David Harper CFA FRM

Hi @David Harper CFA FRM I found in your earlier post that intuition for theta to be +ve for ITM Put option as below: "if you hold a deep ITM put, with asset price near zero, more "waiting time" to the Euro expiration is not a good thing, asset price can't go below zero. Volatility has...

thanks @David Harper CFA FRM for the explanation.