Research On The Two Exotic Option Pricing For Different Dividend Payment

The pricing theory of option is one of the key problems in the field of finance research, and many investment strategies avoid risk based on the combination of option.The financial model derived from the pricing theories of option is also more and more,but most of them base on the Black-Sholes pricing formula. However, these assumptions are seemed to ideal in the real financial market, which are not quite match with the actual situation. In these ten years, great progress are made on how to price option under imperfect market; one of important methods is actuarial approach.Actuarial approaches turn the option pricing problem into an equivalent insurance or a fair premium determination. There are no economical considerations involved, and our approach is valid even the market is arbitrage, non-equilibrium and incompleteness.This dissertation intends to study two exotic options pricing problems under different dividend wags, and gives the following main results:Firstly, to power option and reload option the stock process is driven by Poisson jump-diffusion, we give the pricing formula under continuous dividend.Secondly, we study the power option and reload option under randomly dividend by using actuarial approach.Finally, we study the two types of exotic option and offer the option pricing formulas under mixed dividend.