expiry date

Volatility index for the German DAX, often used as a proxy for European volatility levels, volatility IndeX, which gives a measure of implied volatility for the US S&P index. Vega, the sensitivity of a warrant's theoretical value to a change in volatility. expiry date Volatility, volatility represents the magnitude of the price of the underlying security's movements during a specific time period. The historical volatility of the underlying security can be calculated taking the annualised standard deviation of its return during a defined period, however, when pricing a warrant, it is necessary to take into consideration the volatility which is anticipated or ''implied'' by the financial markets for the period equal to the maturity of the warrant as it estimates the probability that the warrant will expire in-the-money or more deeply so. Warrant, a Securitised Derivative that cannot be short sold. Invest your money in SG derivative products and benefit from highly leveraged investments. E-learning, live prices, real time quotes and financial tools may be consulted online: SG securities London ltd, Société Générale, SG, financial tools, live quotes: SG Warrants offer technical analysis, realtime quotes, sensitivity analysis, ranking, equity derivative

A warrant whose exercise price is near or equal to the underlying security's price, automatic Exercise. expiry date The situation when, upon expiry, the value of a warrant if positive is automatically paid to the holder, all UK warrants have Automatic Exercise.