• The Korean Journal of Financial Management
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• v.22 no.1
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• pp.71-91
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• 2005

The object or this paper is to analyze the rollover effect on KOSPI 200 index option prices. Especially we analyze the implied volatilities of the options that became the near maturity options as the old one expired. For this analysis, a panel data of KOSPI 200 Index Option Prices from year 1999 to year 2001 were used, and following results were obtained. First, after controlling for the underlying index returns, strike prices and other pricing factors, the call option prices tend to decrease while the put option prices tend to increase during the week of expiry. Second, if one concentrates on the daily price changes, call option prices tend to go up on Thursday (as the old options expire), and then experience a price decrease on the following day, while the reverse is true for the put options. These results imply that the option prices are affected by some of the market micro-structure effects such as whether the option is the near maturity option. We conjecture that the reason for this is related to the undervaluation of KOSPI 200 futures. The results from this paper have implications on the timing of option trades. If one wants to buy put options, and/or sell call options, he has better off by executing his intended trades before the old options expire. On the other hand, if one wants to buy call options, and/or sell put options, hi has better off by executing his intended trades after the expiry.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.12
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• pp.6610-6617
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• 2013

This study examined the current and future Indoor Air Quality (IAQ) control device markets and analyzed the recent studies on indoor air pollutantr emoval to develop a new technology for fine dust control. Currently, the mechanical filter technique occupies the bulk of the IAQ control market but the electronic technique is emerging as an alternative to control fine dust efficiently. Among the gaseous VOCs and fine dust particles contaminating the indoor air quality, fine dust particles are more problematic because they threaten human health by penetrating deep into the body and producing secondary contaminants by chemical reaction with VOCs. The electronic IAQ control device using dielectrophoretic and electrostatic forces is a good option for public spaces where many people pass, and at the same time, it needs to consider temperature, humidity, and the particle properties of specific areas to highlight the control efficiency. Electronic-related technology is expected to be used widely in many public/private spaces wherever a dust-free environment is required.