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You are given information on a 12-month cap, among which is the quoted volatility, you then want to obtain the price fo the 6 month caplet, can you simply take the quoted volatility and use as the input needed in Black's formula?
Token Economy
A behavioral modification technique based on the systematic reinforcement of target behavior. The reinforcements are tokens that can be exchanged for other reinforcements.
Token Economy
A behavior modification system used to encourage a desired behavior through the use of tokens that can be exchanged for various rewards.
Psychiatric Institution
A medical facility specializing in the diagnosis, treatment, and care of individuals with mental illnesses.
Poker Chip
An often colorful, round, and flat object used in games of chance, typically made of plastic or clay, representing a certain amount of money or scoring points.
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