Le développement d'un pricer des options et modèle Black and Scholes [ The Development of options pricer and Black and Scholes Model ]

In the early 70's, Black, Scholes and Merton have made a major breakthrough in option pricing. These contributions and developments are the source of the famous Black-Scholes model which had a great impact on how used by traders, both in terms of option valuation in the development of coverage. This work has also been the starting point for the spectacular development of computational finance in the 80's and 90's. In 1997, Merton and Scholes were awarded the Nobel Prize in Economics. This formula is widely used in practice to the extent that it defines the implied volatility has become a real unit of measurement. The mathematical model that describes the financial market is both simple and effective. The aim of this paper is to develop options prices using VBA language and the Black and Scholes model.