Vanilla Option

Data and information is provided for informational purposes only, and is not intended for trading purposes.

It's not a language rewrite, but I decided to support that form, which was already possible in the existing structure. Ha ha, probably another Deadline Disaster from Team Great Predictions over here, but at least the last things are becoming done around the right time. 

Visiting Grandma in the temporary care facility for her 95th birthday; she broke her hip picking blackberries last week but should make a full recovery. Since a villain won't always be a position-holder in a civilization or other entity, and we don't want the full weight of the entity object clogging up the gears, we'll be handling a lot of this activity via the more streamlined agreement system, which is currently used for adventuring companions, fortress petitions, and a few other matters.

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Definition: An option with standard features like a fixed strike price, expiration date and a single underlying asset. The option is effective at the current date and when exercised, its payoff equals the difference between the value of .

Hence I guess it makes sense to consolidate our learning at every opportunity and then proceed further. Here are the key things you should remember with respect to buying and selling call options. With respect to option buying You buy a call option only when you are bullish about the underlying asset. All index options Nifty, Bank Nifty options were European in nature and the stock options were American in nature. European Options — If the option type is European then it means that the option buyer will have to mandatory wait till the expiry date to exercise his right.

The settlement is based on the value of spot market on expiry day. For example if he has bought a Bajaj Auto Call option, then for the buyer to be profitable Bajaj Auto has to go higher than the breakeven point on the day of the expiry.

Even not it the option is worthless to the buyer and he will lose all the premium money that he paid to the Option seller. American Options — In an American Option, the option buyer can exercise his right to buy the option whenever he deems appropriate during the tenure of the options expiry. The settlement is dependent of the spot market at that given moment and not really depended on expiry. For instance he buys Bajaj Auto Call option today when Bajaj is trading at in spot market and there are 20 more days for expiry.

The next day Bajaj Auto crosses It also includes some other bug fixes that could be quickly incorporated. The plan is to try to get a version up fixing a Linux freeze and other issues as soon as possible upon my return, and assuming that leaves us in good-enough shape, to start in on the recently updated dev list in early April.

A few raid-related crashes are fixed, as well as some strange behavior related to stolen livestock. To get the full fix for stolen livestock, old saves will need to add [PET] to beak dogs and unicorns. This isn't crucial; if it isn't done, those animals will no longer be stolen in that save. But if you were experiencing the bug, the existing animals will be broken until the tag is added. New raid options are available, and it shouldn't be hard for you to antagonize your neighbors now if that's what you want to do.

Use the 'd'etails option when preparing the raid to set what sorts of actions you'd like your raiders to perform. Skills and equipment matter, and skills can be improved during missions. The skill of your best tactician is important you'll see feedback in the mission report. If you demand tribute on an ongoing basis and the target site agrees to your demands, you'll receive something like a merchant caravan on an annual basis a few seasons after the initial demand.

They'll drop goods off at your depot and depart. These goods can be carried off immediately for storage, but there's a new report so you can look at a complete list of what was delivered; the same is true of spoils from raids.

A few notes on the bug fixes below: Also in old saves, distracted animals might still appear to be broken at first, but they should sort themselves out after a bit. We've updated the development page as we steer the DF ship through bug-fix and small change waters as they mix with an upwelling of Fun, ultimately arriving at Mythical Magic Harbor, where the vessel will be in dry dock for some time.

With the new dev page comes a new Future of the Fortress thread. The next version itself is almost ready; hopefully it won't be much longer. If you manage to drive off the inhabitants whether you destroy all the structures or not , the site will become uninhabited and switch symbols on the map.

Damage should be reflected in human towns if viewed later in adventure mode, but in sites without damageable structures, the inhabitants can still be evicted. An entire civilization you are at war with can theoretically be reduced to migrating refugee groups, but I have no idea if that can be achieved with a fort's worth of dwarves in practice.

Skill and equipment matter and have a large effect on individual skirmishes, so it might be possible if you train and outfit squads very well. We'll get to combining your forces with other, larger forces off-site later. Skills can now be improved by off-site dwarves, and they'll learn the appropriate combat skills as well as be rewarded for stealth. I've also implemented the military tactics skill, and, along with leadership and organization, it skews rolls in battles in opposition to the opponent's tactician skills they gain skill as well.

You are also assessed the terrain penalties for attacking certain sites. All of what's happening here is reflected in the mission report. Non-historical figures will also defend their sites in particular, vaults are no longer automatically robbed when you send one dwarf to them.

This leads to your dwarves facing large numbers at times, but I made it a little less abstract than the world generation method, so the results should be somewhat less silly which generally isn't good for your dwarves, as world gen fights sometimes have a single historical figure slay hundreds at a time, but the dwarves' full squads are also respected, so the new worse odds are mitigated.

I've decided to go ahead with allowing you to demand tribute from sites, and that'll be the last thing before the release. Others demanding tribute from you and the ability to place administrators over conquered sites will happen with a future release, but this is a start. You can bring back one piece of loot or one livestock critter per dwarf that returns from the raid you can decide to turn either option off before they go.

Since we don't have actual production to replenish site stockpiles yet, we're handling it with a simple placeholder variable. The size of the raiding party vs. The percentage is the chance that an individual dwarf's loot action fails. In the distant future, this can be replaced by numeric resource piles. Livestock, on the other hand, is actually taken from the site's animal population pools, regardless of the percentages. On my first attack on a human village, the dwarves returned with a yak, a goose, and an alpaca, as well as a nicely decorated yak waterskin When I sent a single dwarf to sneak into a goblin tower, she came back with a pair of silk goblin shoes.

We might end up weighing them against picking up a bunch of junk after I try some larger raids, if the results are always that disappointing, he he he. I still need to clean up a few issues with the razing code and make non-historical figures defend their sites.

We're also considering throwing in an ongoing tribute option if the winds are favorable. We're starting in on the first changes to the world map 'c' screen in dwarf mode, allowing dwarves to openly attack sites rather than always trying to stealthily raid them, in case you are trying to start some trouble. We'll also likely address the larger populations not being involved in these conflicts currently you instantly win if there are no historical figures on site , as well as adding the option to bring some loot back, but we'll see what happens as we test it out, as there could be unforeseen issues.

Today I handled some problems with the razing code that made it unready for fort-mode-level scrutiny. This week I fixed various bugs. There was an issue causing questers to yet again not leave the fortress, this time because drunkenness was causing your dwarves to become more private instead of less private, leading to questers never being able to get rumors from people. I've also removed that strict requirement from them, so questers'll leave after a while regardless of what they learn or how much they socialize.

Adventurer dwarf trances work again. Animals no longer become distracted from being unable to drink if they've experienced trauma, or from being unable to worship gods they shouldn't have been worshiping in the first place Also fixed a siege issue where live generals were being elevated from zombie populations. And the Future of the Fortress reply.

The plan was to visit a few of the new bugs from there, but one of the library saves had dwarves and items, so I took a look at it. Some of the gains are universal, some depend on, say, how many chickens are in play. It also had a very barfy above-ground tavern, so I took the opportunity to alter the cleaning code so that they'll clean inside non-subterranean areas, as well as outside areas on constructions and buildings; they'll also chain cleanings so they at least get a good swath of a giant green smear before moving on.

More needs to be done with cleaning, but this should help. An old bug gumming up the mayor's meeting queue is fixed, and I made the queue slightly more robust in general. The megabeasts and other style monsters had entered another period of non-hostility in adventure mode; this is repaired. Bandits ambushers had a similar problem due to broken skill assessments, as they were calculating their odds incorrectly.

A few little bits: Any broken visitors themselves are unpatchable in affected saves, so it was important to get this one up quickly. Old saves are compatible as usual, and should not get new broken visitors, but visitors that are currently acting strange will still be acting strange, and likely will not depart.

Over in adventure mode, inappropriate creatures shouldn't yell 'identify yourself' and companions should participate in conflicts as they used to, and some other issues of reputation should be solved, especially among citizens of the starting town. Highlights include fixing two separate causes of stuttering lag, making beast invaders move properly again, a couple crashes, and an artifact duplication bug.

You can check up on the complete progress here at the tracker. Here's the year end report. And here's the Future of the Fortress reply. Notably, visitors shouldn't arrive in such large numbers so early on, and fewer of them should overstay their welcome in old saves, people already in transit will arrive, but it should taper off.

Adventure mode commanders etc. There are a few more issues I want to look at before I put the next version up display cancellation spam, issues with cancelled raids, etc. I'm sorry about what many of you, both supporters and other creators, had to go through over the Patreon fee changes recently, and we of course understand people that decided to pull their support over the increase.

Their planned changes now seem to be shelved for the moment, though it's a bit disconcerting to enter a period of more financial uncertainty.

Future of the Fortress has many characters, so it is broken into two parts: I should be able to test the Linux drive on Saturday once I get the hard drive enclosure, and we'll go from there. Apologies for the continuing delay. In fort mode, the 'c' screen which used to list civilizations still does that as a suboption, but its main purpose now is to show the world map and allow you to interact with it. You can either raid a neighbor generally, or send off squads to recover specific artifacts or rescue particular people in which case, the squads will still bring back other artifacts and prisoners, but focus on the goal.

A squad questing after an artifact will seek out information if the first site doesn't work out, and this might take several months, so be prepared. Squads can also be captured during raids, though typically someone will return to tell the tale.

When squads return, a report will become available; a yellow 'R' will appear over on the left margin, and pressing 'r' will let you see it. Sometimes reports are quite lengthy as squads stumble from tavern to tavern; you can press enter to skip to the end of the path animation.

There are some rough edges here! Be sure not to send off your commander if you are planning to reorganize your military, as they are the only one with the power to assign new squads and cannot do so while off the map. There was a last-minute hiccup with artifacts known to be held by people rather than stored on sites ; these fort-mode missions will be fruitless for the moment; the most common instance here is books authored by people that then hang on to them, so don't try to steal their books!

It says on the map screen when an artifact is held by somebody, so it should be easy to avoid. Raids do not bring back non-artifacts or build skills; these issues may or may not be addressed in the short-term depending on difficulties that arise. The interactions with heroes and invading armies are more straightforward. There will either be 'P'etitions or a diplomacy popup to handle. In adventure mode, you can assume a cover identity.

You do this from the 'k' conversation menu if you are already talking to somebody, it'll be hidden in "start new conversation". If you choose to link your identity to a civilization, you'll be carrying that baggage with you, especially when you are being interrogated by goblin guards, so one should be prudent. To turn off the identity, go back to the "assume an identity" menu and choose the 'x' "no identity" option.

You can also reuse existing identities from this menu. People in adventure mode that are seeking an artifact will list "missing treasure" among their troubles, and you can then inquire further. In order to name an object, use 'I' to interact with it, and it'll be one of the options for appropriate objects.

For example, you can give a name to your spear or waterskin, but not to the water or food you start with. There are also various adventure rough edges. For instance, if you pick up and then immediately replace a museum piece in adventure mode, and then tell somebody about it, you'll get credit as a Treasure Hunter. It'll be difficult to fix that without additional property information, etc. We'll be working with this a bit as we generally work on stabilizing the release. Overall, many of the changes occurred under the hood, in preparation for the myth and magic release, but now the magic release will be able to incorporate artifacts of all kinds without additional delay, so hopefully it was time well spent.

As usual, your old saves should work, but please back them up before diving into the new release! It is quite likely that forts will fall into technical ruin as bugs come up and are handled at this early stage. Old forts won't have object additions like the pedestals and display cases, but they should be able to send out raids from the 'c' screen.

We will be focusing on the worst bugs crashes etc. We're still working on the design side of the first magic release, so we anticipate we'll be doing smaller releases for a while. My Linux computer died during the release process, so the Linux version will have to be delayed until we figure that out. All the same, when confronted by a goblin glassmaker near a watch tower, Buddy A quick-wittedly shouted out "My name is Tode. Buddy A held this identity until we made our way out of the site.

Your buddies don't yet screw up for any reason. You can screw up, if your identity is chosen very poorly. The various remaining artifact issues were uneventful. Now the main thing left to do is handling all this companions-during-infiltration business, the issue being that a goblin might address one of your companions instead of you, due to line-of-sight, etc. Might take some days due to the various various ways it can All Go Wrong. Then finally some bugs I promised to do before the release.

Normally, we do bug-fixing for a while afterward and of course we'll still do that , but e. So we'll see how that goes after the companion identity stuff is handled. Then we should be ready! I made sure rulers could form new artifact claims post w. We'd hoped to set up more subtle town-level identity tracking, by alias and appearance, but I ran into trouble there, so it still has to track identity by actual incidents and rumors, rather than just your greetings, community-wise.

That is, an individual will track your aliases when you introduce yourself, but they won't pass that information around in a way accessible to the broader community unless there's also a barfight or artifact involved or something, at which point the information will be pooled by any survivors a few hours after the incident area is offloaded.

There are four things left to do. Ha ha, probably another Deadline Disaster from Team Great Predictions over here, but at least the last things are becoming done around the right time. The woodland artifact quester didn't go so well at first. I used my debug power to manifest as the Manifestation, holding the quest crossbow, which I immediately handed over. I don't care one way or another.

So I sorted it out and got a happy reply about turning over the crossbow properly. Reloaded, tested out various personality combinations, got mugged, etc. Still racing against the clock! What have we got, ten days left in October?

You can then bring the siegers the artifact they are demanding if you have it and choose to do so , and I mentioned then that there were a few bits to finish. The trader would have no obligation to buy the stock, but only has the right to do so at or before the expiration date. The risk of loss would be limited to the premium paid, unlike the possible loss had the stock been bought outright.

The holder of an American-style call option can sell his option holding at any time until the expiration date, and would consider doing so when the stock's spot price is above the exercise price, especially if he expects the price of the option to drop. By selling the option early in that situation, the trader can realise an immediate profit. Alternatively, he can exercise the option — for example, if there is no secondary market for the options — and then sell the stock, realising a profit.

A trader would make a profit if the spot price of the shares rises by more than the premium. For example, if the exercise price is and premium paid is 10, then if the spot price of rises to only the transaction is break-even; an increase in stock price above produces a profit. If the stock price at expiration is lower than the exercise price, the holder of the options at that time will let the call contract expire and only lose the premium or the price paid on transfer.

Long put[ edit ] Payoff from buying a put. A trader who expects a stock's price to decrease can buy a put option to sell the stock at a fixed price "strike price" at a later date. The trader will be under no obligation to sell the stock, but only has the right to do so at or before the expiration date. If the stock price at expiration is below the exercise price by more than the premium paid, he will make a profit.

If the stock price at expiration is above the exercise price, he will let the put contract expire and only lose the premium paid. In the transaction, the premium also plays a major role as it enhances the break-even point. For example, if exercise price is , premium paid is 10, then a spot price of to 90 is not profitable. He would make a profit if the spot price is below

 

What is a 'Vanilla Option' 

A vanilla option is a financial instrument that gives the holder the right, but not the obligation, to buy or sell an underlying asset at a predetermined price within a given timeframe. A vanilla option is a call or put option that has no special or unusual features.

As with the vanilla option, the premium would be lost if the underlying was above the upper strike at expiration. In comparison to other option structures, vanilla options are not fancy or complicated. Such options may be well-known in the markets, and easy to trade. Increasingly, however, the term vanilla option is a relative measure of complexity, especially when investors are considering various options and structures. 

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What is 'Plain Vanilla'

BREAKING DOWN 'Plain Vanilla' For example, a plain vanilla option is the standard type of option, one with a simple expiration date and strike price and no additional features. A Binary Touch Option differs from a plain Vanilla Option in that the potential gains and losses of a Binary Touch Option position is known upfront, thus .

Definition: An option with standard features like a fixed strike price, expiration date and a single underlying asset. The option is effective at the current date and when exercised, its payoff equals the difference between the value of . A vanilla option is a basic option with no special attributes or features. A vanilla option can be either a call or a put.A call is a vanilla option that gives an investor the right but not the obligation to purchase a security at a pre-determined price (i.e. strike price) within a pre-specified time period.A put is a vanilla option that gives an investor the right but .

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