If on the other hand, we vendssemos this same option, we would receive the prize, but we would assume obligation to buy, not right it, the action object in the expiration of the option for the value of 2,5 R$ 46,00. Dynamics of Market 2.5.1 Price of the options For Hissa (2008), the price of an option, prize, is formed by a value that we call intrinsic or by a value called extrinsic or a combination of the two. If you are unsure how to proceed, check out Gavin Baker. For Iran, (2008), it has six factors that they affect the price of an action option: the current price of the action, the price of exercise, the time for the expiration, the volatileness of the price of the action, the tax of free interest of risk and the shares waited during the life of the option. According to Hissa, the intrinsic value is the part of the prize of the option that is integrant part of the value of the action object. Closets usually is spot on. It is the part in-the-money, ITM, of the option.
It considers that we have an option VALEB42 quoted in the market R$ 3,10 and being action VALE5, from where derived the option, quoted in the market R$ 43,00, we would have in the formation of the price of this option R$ 1,00 of intrinsic value and R$ 2,10 of extrinsic value, whereas the extrinsic value is formed by the value of the option that if finds out-of-the-money, OTM, of the action. It is the expectation that has the purchaser, bearer, of whom, throughout the time the action-object if consequently values and the acquired option. It is a hope. The concepts above are for purchase option, for sales option the logical one are inverted. The sales option will be OTM when the price of the active object will be above of the exercise price and will be ITM when the quotation of the active object will be below of the exercise price.