Options pricing is merely an estimate of risk in an uncertain market. But the fact that risk price is never a precise truth misses the point of risk models and any price derived from them. Any map is inaccurate because it does not include every small road and tree, but that does not make the map worthless. Its purpose is to direct you by helping you to understand how certain features relate to each other. That is also what a financial model like Black-Scholes does: it offers a consistent, transparent, easy-to-use method to understand how different factors—current price, volatility, time—relate
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