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to protect long-term holdings. When buying a call option, we have the right to buy the underlying security at a future date at a speci c price. We do not have to use this right, just as we don t always use our insurance policies (i.e., le a claim), but the option is there if we do want to use it. 25. The ______________ is referred to as the price at which the stock or commodity underlying a call or put option can be purchased or sold over the speci ed period. Answer: B Strike price. Discussion: The strike price has a distinct relationship to the price of an option. If the strike price is a long ways away from the current value of the security, the premium will be low. However, if there already is value in the option because it is in-the-money (ITM), the premium will be much higher. 26. An option is no longer valid after its ______________. Answer: B Expiration date. Discussion: Once an option hits its expiration date, which is close of business prior to the Saturday following the third Friday of each month, it can no longer be exercised. If an option is out-of-the-money (OTM) at expiration, it will no longer have any value. However, if it is ITM, the option holder will need to either sell it for its current value or exercise the option to ful ll the contract. Most options contracts are bought and sold before expiration. 27. True or False: Options are available on all stocks. Answer: False. Discussion: Options are not always available on every stock. Options are often added to new stocks, but only about 40 percent of current stocks traded on the major exchanges or optionable. If a stock has little liquidity, there is very little reason to start trading options on the stock. The CBOE web site has a list of new optionable stocks that can be viewed or e-mailed to you each day. 28. Each stock option (call or put) represents ______________ shares of a stock. Answer: B 100. Discussion: Generally a stock option represents 100 shares of stock. Thus, if a call option is quoted at $2, the total cost for one contract
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Table 10.1
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To the right of the Multiplier value is a color swatch. Clicking the color swatch opens a color selector where you can choose a new light color. Attenuation is a property that determines how light fades over distance. An example of this is a candle set in a room. The farther you get from the candle, the less the light shines. You use three basic parameters to simulate realistic attenuation. Near Attenuation sets the distance at which the light begins to fade, and Far Attenuation sets the distance at which the light falls to 0. Both these properties are ranges that include Start and End values. The third parameter sets the Decay value, which simulates attenuation using a mathematical formula to compute the drop in light intensity over time. Selecting the Use option enables the Near and Far Attenuation values; both have Start and End values that set the range for these attenuation types. The Show option makes the attenuation distances and decay values visible in the viewports. The three types of decay from which you can choose are None, Inverse, and Inverse Square. The Inverse type decays linearly with the distance away from the light. The Inverse Square type decays exponentially with distance.
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Until telephones disappear and there is a data access everywhere, modem access via the PSTN will remain a critical technology for lowspeed, on-demand access to VPNs. Since the disappearance of telephones probably would cause a worldwide revolt of teenagers, this is unlikely to happen. While V.90 modems probably have reached the limits of transmission speed over analog lines, there are an increasing number of products that provide greater speed by inverse multiplexing several modem links.
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P r o c e d u r e Heat half the oil in a large saut pan or wok. Over high heat, stir-fry the pork just until it loses its pink color. Cook it in several batches if necessary. Remove from pan. Add the rest of the oil to the pan. With the pan still over high heat, add the bok choy, squash, peppers, mushrooms, garlic, and scallions. Stirfry for a few minutes, keeping the vegetables crisp. Return the pork to the pan and add the sauce. Simmer until the pork is cooked through. Serve immediately with steamed rice.
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We believe that teams real teams, not just groups that management calls teams should be the basic unit of performance for most organizations, regardless of size. In any situation requiring the real-time combination of multiple skills, experiences, and judgments, a team inevitably gets
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The following servings of fats provide approximately 120 calories and 10+ grams of fat.
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Although most drivers in fatal crashes do not have records of alcohol-impaired driving, being convicted of a prior offense raises the risk of being involved in an alcohol-related fatal crash (Simpson et al., 1996; Hedlund & Fell, 1995). Preventive efforts directed toward previous offenders can use sanctions to limit driving, including license suspension and revocation, vehicle impoundment and jail. Although the immediate effect of these sanctions is to reduce driving, they are also expected to create an unpleasant condition that deters future alcohol-impaired driving. In addition, participation in the remedial programs discussed earlier is often motivated almost entirely by the requirement to complete such programs as a condition for relief from sanctions.
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Place the meat in the cooking liquid and return (or bring) to a boil. Reduce heat to a simmer and skim the surface. Meat must never boil for any length of time. Simmering yields a more tender, juicier product than boiling. Simmer until the meat is tender, skimming as necessary. To test for doneness, insert a kitchen fork into the meat. The meat is tender if the fork slides out easily. This is called fork tender. If the meat is to be served cold, cool it in its cooking liquid to retain moistness. Cool rapidly in a cold-water bath, as for stocks.
and G = Xw. Little s theorem is valid for all queueing disciplines and arbitrary systems. The proof is given in [LittGl].
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Removing a folder from the index is the opposite of adding one. Repeat the preceding steps to get to the Indexed Locations dialog box shown in Figure 31.10. Expand drives and folders, as necessary, so you can see the items you ve selected (checked). If you want to exclude some subfolders from one of your indexed folders, expand that folder first. Then clear the checkmarks from the subfolders you don t want in the index. Those subfolders show up in the Exclude column in the lower pane of the dialog box. Click OK after making your changes.
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