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Hi David, Concerning PQ 29.1 VaR Coherent risk measure ,I do not understand the reasoning about Prob of zero default=[95%^3].Is alpha considered as the prob that the bond will not default? Given the PD bond, I'm tempted to measure the prob of no default as [1-PD]. Thank you very much four your...

Hi David/Suzanne, regarding question 12.11.6 pag.133 - option stategy, with given data Kput=40 Kput=49 Kput=49 S=34 cash outflows=(1) I don’t get the same profit as in your answer. It seems that Kput used to calculate net profit in the answer is different from data provided in the question...