In the Black-Scholes Option Pricing Formula, N(d1) Is the Probability

question 404

Multiple Choice

In the Black-Scholes option pricing formula, N(d1) is the probability that a standardized, normally distributed random variable is:

• A) Less than or equal to N(d2).
• B) Less than one.
• C) Equal to one.
• D) Equal to d1.
• E) Less than or equal to d1.

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