716  21

   ,         
,    ,     :

 = /?,                            (21.10)

     .       $2,86 ($95,24  0,03),
     $98,10    $95,24  
$2,86.

SI.8.3       

 . 21.1        -
.         , 
     : (1)    -
       (2)    -
.      ,     -
       .   -
   ,       
    .

          -
 .  ,       
          -
,    .

       ,     -
,   .       
: (1)       ; (2) 
      ; (3)   
,   .

 

 1993 .        
.           -
   Standard & Poors 500 (S&P 500).      -
 Nikkei 225 (  )     -
      ().    
       - -
  [  -   (NYFE)]   Standard
& Poors Midcap 400,   . (   
     (Major Market Index},   -
         Dow Jones,  
  )18.

   ,     Nikkei 225, -
  $500;   Nikkei - $5.  ,    S&P 500,
   400,   $200 000 ($500  400).  
 ,    420,    $210 000 ($500  420)
   $10 000 ($210 000 - $200 000).

 

      .  
  ,       
   .    . 21.1,   
13  1993 .     S&P 500  66 732 .