Nick Price final round, but he hung on to win by one stroke over Larry Nelson. PGA Tour playoff record (3–3) Co-sanctioned by the Sunshine Tour. European Tour playoff record (2–0) Co-sanctioned with the European Tour Champions Tour playoff record (1–1) CUT = missed the halfway cut<br> "T" indicates a tie for a place. Amateur Professional Nick Price Nicholas Raymond Leige Price (born 28 January 1957) is a South African-born Zimbabwean professional golfer who has won three major championships in his career: the PGA Championship twice (in 1992 and 1994) and The Open Championship in 1994. In the mid-1990s, Price reached number
Forward price into. So OUT - IN = NET GAIN and his net gain can only come from the opportunity cost of keeping the asset for that time period (he could have sold it and invested the money at the risk-free rate). let: Solving for fair price and substituting mathematics we get: where: where "c" is the "i " dividend paid at time "t ". Doing some reduction we end up with: Notice that implicit in the above derivation is the assumption that the underlying can be traded. This assumption does not hold for certain kinds of forwards. There is a difference