- XAUUSD
- XAGUSD
- WTI
- USDX
Markets
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev












Signal Accounts for Members
All Signal Accounts
All Contests


The U.S. Embassy In Riyadh Urges All U.S. Citizens To Avoid Travel To King Khalid International Airport And Its Surrounding Areas
The United States Has Stated That It Is Aware Of The Attack On King Khalid International Airport In Saudi Arabia
According To A Security Alert, The British Embassy In Riyadh Advised British Citizens To Avoid Traveling To King Khalid International Airport In Saudi Arabia, Given The “serious Incident” That Has Occurred
According To Al Jazeera's English Channel, The French Military Stated That It Is Deploying Two Frigates Near The Bab El-Mandeb Strait To Conduct Reconnaissance And Ship Protection Missions. French Forces Are Also Involved In Protecting Merchant Ships In The Red Sea
Israel Defense Forces: Interceptors Have Been Launched Against Suspected Aerial Targets In Southern Lebanon; Forces Are In Operation
Kuwait Airways: Flights To And From Riyadh On Saturday Have Been Cancelled Due To The Closure Of Riyadh Airport
Airports And Other Facilities In Riyadh And Other Locations In Saudi Arabia Have Been Repeatedly Attacked. The Chinese Embassy In Saudi Arabia Has Issued Its Latest Advisory
Polish Media: If Polish Central Bank Governor Gopinski Is Suspended, It May Be Difficult To Convene A Central Bank Meeting
According To The Palestinian National News Agency, Palestinian President Mahmoud Abbas Issued A Decree Cancelling The Legislative Council Elections Originally Scheduled For November 28, 2026, And Rescheduling The Presidential And Legislative Council Elections For September 11, 2027
NDRC: Accelerate The Commencement Of Major Engineering Projects Outlined In The 14th Five-Year Plan And The Implementation Plan For The “Six Networks” To Stimulate And Unleash Domestic Demand Potential
Russia Appoints Governor: Four Civilians Have Been Killed In The Russian-controlled Luhansk Region Of Ukraine In The Past 24 Hours
Ukraine's Ministry Of Energy: Power Outages Occurred In Kyiv And Surrounding Areas Following Russian Attacks
Former Senior Israeli Military Officials Have Said That Killing Ayatollah Khamenei Would Be A Mistake
Kremlin: In Coordination With Iran, Russian President Vladimir Putin Conveyed Iran’s Views On A Possible Solution To The Conflict To US President Donald Trump
Kremlin: Russian President Vladimir Putin Expressed "understanding" Of Some Of US President Donald Trump's Proposals Regarding Easing Tensions In Ukraine During The Phone Call

Mexico CPI YoY (Sept)A:--
F: --
P: --
U.S. Initial Jobless Claims 4-Week Avg. (SA)A:--
F: --
U.S. Weekly Initial Jobless Claims (SA)A:--
F: --
U.S. Weekly Continued Jobless Claims (SA)A:--
F: --
U.S. Wholesale Sales MoM (SA) (Aug)A:--
F: --
U.S. EIA Weekly Natural Gas Stocks ChangeA:--
F: --
P: --
U.S. 30-Year Bond Auction Avg. YieldA:--
F: --
P: --
U.S. Weekly Treasuries Held by Foreign Central BanksA:--
F: --
P: --
Indonesia Retail Sales YoY (Aug)A:--
F: --
P: --
Italy Industrial Output YoY (SA) (Aug)A:--
F: --
Italy 12-Month BOT Auction Avg. YieldA:--
F: --
P: --
India Deposit Gowth YoYA:--
F: --
P: --
Brazil CPI YoY (Sept)A:--
F: --
P: --
Canada Labor Force Participation Rate (SA) (Sept)A:--
F: --
P: --
Canada Unemployment Rate (SA) (Sept)A:--
F: --
P: --
Canada Part-Time Employment (SA) (Sept)A:--
F: --
P: --
Canada Full-time Employment (SA) (Sept)A:--
F: --
P: --
Canada Employment (SA) (Sept)A:--
F: --
P: --
U.S. UMich Consumer Expectations Index Prelim (Oct)A:--
F: --
P: --
U.S. UMich Current Economic Conditions Index Prelim (Oct)A:--
F: --
P: --
U.S. UMich Consumer Sentiment Index Prelim (Oct)A:--
F: --
P: --
U.S. UMich 1-Year-Ahead Inflation Expectations Prelim (Oct)A:--
F: --
P: --
U.S. 5-10 Year-Ahead Inflation Expectations (Oct)A:--
F: --
P: --
China, Mainland M1 Money Supply YoY (Sept)--
F: --
P: --
China, Mainland Social Financing Scale (Sept)--
F: --
P: --
China, Mainland M0 Money Supply YoY (Sept)--
F: --
P: --
China, Mainland M2 Money Supply YoY (Sept)--
F: --
P: --
Russia CPI YoY (Sept)A:--
F: --
P: --
U.S. Weekly Total Rig CountA:--
F: --
P: --
U.S. Weekly Total Oil Rig CountA:--
F: --
P: --
Turkey Retail Sales YoY (Aug)--
F: --
P: --
India CPI YoY (Sept)--
F: --
P: --
Mexico Industrial Output YoY (Aug)--
F: --
P: --
Russia Trade Balance (Aug)--
F: --
P: --
FOMC Member Hammack Speaks
U.K. BRC Overall Retail Sales YoY (Sept)--
F: --
P: --
U.K. BRC Like-For-Like Retail Sales YoY (Sept)--
F: --
P: --
Japan PPI MoM (Sept)--
F: --
P: --
Japan Domestic Enterprise Commodity Price Index YoY (Sept)--
F: --
P: --
Japan Domestic Enterprise Commodity Price Index MoM (Sept)--
F: --
P: --
RBA Monetary Policy Meeting Minutes
Germany GDP Prelim YoY (Working-day Adjusted) (Sept)--
F: --
P: --
Germany GDP Prelim QoQ (SA) (Sept)--
F: --
P: --
Germany HICP Final YoY (Sept)--
F: --
P: --
Germany HICP Final MoM (Sept)--
F: --
P: --
FOMC Member Waller Speaks
South Africa Gold Production YoY (Aug)--
F: --
P: --
South Africa Mining Output YoY (Aug)--
F: --
P: --
U.S. NFIB Small Business Optimism Index (SA) (Sept)--
F: --
P: --
Germany Current Account (Not SA) (Aug)--
F: --
P: --
Canada National Economic Confidence Index--
F: --
P: --
U.S. Weekly Redbook Index YoY--
F: --
P: --
U.S. Existing Home Sales Annualized Total (Sept)--
F: --
P: --
U.S. Existing Home Sales Annualized MoM (Sept)--
F: --
P: --
China, Mainland Trade Balance (CNH) (Sept)--
F: --
P: --
China, Mainland Exports (Sept)--
F: --
P: --
China, Mainland Imports (CNH) (Sept)--
F: --
P: --
China, Mainland Trade Balance (USD) (Sept)--
F: --
P: --
China, Mainland Exports YoY (USD) (Sept)--
F: --
P: --






















































No matching data
A call can cost more than its matching put without signalling an expected rally. Rebuild the cash flows, account for dividends and funding, then test the apparent gap at executable bid and ask prices.
A call priced at 7 and a put priced at 5 do not, by themselves, show that investors expect the stock to rise. If both options are European, cover the same underlying and have the same strike, expiry and settlement terms, their price difference is constrained by the stock price, the present value of the strike and any distributions. The first question is whether the contracts really match. The second is whether the comparison uses prices you could actually trade. A small discrepancy between screen midpoints can disappear before commissions even enter the calculation.

Buy a call and sell a put with a strike of 100. At expiry, the combined payoff is the final stock price minus 100. Below the strike, the short put supplies the loss; above it, the call supplies the gain. At the strike, both pay zero. The following figures are per share and exclude the initial premiums.
| Stock at expiry | Long call | Short put | Combined payoff |
|---|---|---|---|
| 80 | 0 | −20 | −20 |
| 100 | 0 | 0 | 0 |
| 120 | 20 | 0 | 20 |
Add an investment that pays exactly 100 at expiry and the package has the same terminal value as one share, provided there are no intervening distributions. That is the replication behind parity. Long call plus short put is not a free share: it creates a forward-like exposure, requires the initial net premium and leaves the strike-related obligation. Margin and cash-flow timing can differ markedly from owning stock outright.
Write C for the call price, P for the put, S for the stock, K for the strike, r for a continuously compounded annual rate and T for time remaining in years. In the no-dividend, frictionless European model:
C − P = S − K × exp(−rT)
Suppose S=100, K=100, T=0.5 and r=0.04. The present value of the strike is 98.019867, so C−P is 1.980133. If the put costs 5, the matching call implied by this relationship is about 6.980133. Equal spot and strike prices therefore do not imply equal premiums. The difference can arise from carrying costs rather than a directional forecast.
The identity needs no particular volatility model: it compares matching cash flows. But it does not calculate both option prices from nothing. Knowing only that C−P=1.980133 still leaves many possible pairs. Nor should this same-strike relationship be confused with volatility skew across different strikes.
For known cash dividends paid before expiry, subtract their present value from the stock side: C−P = S−PV(dividends)−PV(K). If a hypothetical dividend of 1 is paid in 0.25 years, its present value at the same 4% rate is 0.990050. The required premium difference becomes about 0.990083 rather than 1.980133.
This is a change in the difference, not a claim that a real dividend announcement changes only the call and leaves the put untouched. The stock price and both premiums can adjust. Use dated cash flows consistently; do not subtract a cash dividend and also apply a yield adjustment for the same payment.
The corresponding model forward price is F = [S−PV(dividends)] × exp(rT). It is a carrying-cost relationship, not an estimate of where the stock will finish. A residual may reflect financing, distributions, stock-borrow constraints or bad inputs. One residual cannot identify all those components separately.
Return to the no-dividend example. Suppose synchronized bid/ask quotes are 99.95/100.05 for the stock, 6.80/7.20 for the call and 4.80/5.20 for the put. Midpoints produce C−P+PV(K)−S=0.019867. That small positive number is not available cash.
To test a conversion, buy the stock at 100.05 and the put at 5.20, and sell the call at 6.80. The package costs 98.45 and pays 100 at expiry under the matching European assumptions. Buying the same terminal 100 at the model funding rate costs 98.019867. The option package is therefore 0.430133 more expensive before fees, not an arbitrage gain. With a hypothetical multiplier of 100, the difference is 43.01 currency units; actual contract multipliers must be checked.
Test the opposite direction separately. Short the stock at 99.95, sell the put at 4.80, buy the call at 7.20 and invest 98.019867 to meet the strike-related cash flow. The initial balance is −0.469867 per share. Both directions fail even before commissions. Short-sale proceeds may not be freely available, borrowing and lending rates may differ, and stock-loan fees or collateral requirements can widen the gap further.
American options permit early exercise, so a terminal-payoff comparison alone does not capture all rights and obligations. Assignment can change stock ownership, dividend entitlement and funding before expiry. Do not label an American-option difference a pricing error merely because it fails the European equation.
Also check adjusted deliverables after corporate actions, contract size, settlement currency, cash versus physical delivery and the exact settlement observation. Two options expiring on the same calendar date can still settle against different observations. Options on futures require their own contract and financing conventions. Last-traded prices recorded at different times are another common source of artificial discrepancies.
The same discipline clarifies covered-call premiums and capped upside: collecting an option premium does not remove the other leg’s economic exposure. Equivalent terminal payoffs do not guarantee identical margin, tax treatment or operational risk.
First match underlying, strike, expiry, exercise style, multiplier and settlement. Then timestamp the stock, call and put quotes and confirm that the displayed size covers the intended comparison. Put dividends and funding on dated cash-flow schedules. Calculate both executable directions, buying at offers and selling at bids. Finally include commissions, stock borrow, collateral, assignment and the possibility that one leg fills without the others.
If the contracts or inputs do not match, stop treating the residual as evidence. If a gap survives, it is a question to investigate under actual execution constraints—not proof of bullish sentiment or a guaranteed profit. Parity is most useful as a consistency check: it tells you which cash flow or assumption must be examined next.
The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.
Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.
Not Logged In
Log in to access more features
Log In
Sign Up