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Apparatus and process for executing an expirationless option transaction

  • US 5,884,286 A
  • Filed: 09/17/1996
  • Issued: 03/16/1999
  • Est. Priority Date: 07/29/1994
  • Status: Expired due to Fees
First Claim
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1. A data processing apparatus for executing an expirationless option transaction on a particular asset, said data processing apparatus comprising:

  • (A) means for receiving data representative of a particular asset, an option type, an exercise price for the particular asset, the current price of the particular asset, the historic price volatility of the particular asset and the margin requirement for the particular asset;

    (B) a storage medium adapted to store the data received by said receiving means and an expiring option premium algorithm;

    (C) means, responsive to the data received by said receiving means, for generating data representative of an option premium for the expirationless option on the asset using the expiring option premium algorithm;

    (D) means for outputting the option premium data; and

    (E) means for executing the expirationless option transaction.

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