Re:The Black-Scholes formula, explained (2019)
by blake1 on Sunday April 11, 2021 @07:00PM
(#26774345)
It's still useful in options with very long maturities. Then the law of large numbers becomes important, and the vol smile flattens out over decades. These aren't listed, but are occasionally traded over-the-counter or embedded in some financial contracts, like executive stock options, insurance contracts, or convertible bonds.
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