The P. Extender
$<number>.P.<code>
For example, $1.P.ASK.
In options, quote codes written with extenders display a variety of values,
depending on the symbol you enter. The following table summarizes the
performance of option quotes code extenders.
If symbol in $1 is:
| $1.U.<code> displays:
| $1.C.<code> displays:
| $1.P.<code>
displays: |
underlying
| underlying
| at-the-money call
| at-the-money put
|
call
| call underlying
| call
| put with strike & expire equal to $1
|
put
| put underlying
| call with strike & expire equal to $1
| put
|
Conversion Formula:
Where:
CONV = formula name.
$1.C.RECENT = recent price of call.
$1.P.RECENT = recent price of put.
$1.U.RECENT = recent price of underlying.
$1.C.STRIKE = call strike.
This formula requires only one instrument as an argument, but, internally, it uses prices from three different instruments to define the arbitrage relationship between a call and a put at a particular strike and expiration. The conversion formula (CONV) uses quote code extenders. Take, for example, the first element in the conversion formula:
$1.C.RECENT
This code instructs the formula to get the recent price of a call. In context of formulas, the instrument is passed to the formula as an argument. For more information on passing arguments to formulas, please read chapter 15 of your Aspen Systems User Guide.