Yields 
When calculating the yield of a bond, the NewtonRaphson iteration procedure uses the following seed value: cpn = the periodic coupon payment. 


Implied Spot and Forward Prices 
When calculating implied spot or forward prices, the NewtonRaphson iteration procedure uses the strike rate as the initial estimate of the spot/forward price. 


Implied Strike Prices 
When calculating implied strike prices, the NewtonRaphson iteration procedure uses the spot rate as the initial estimate of the strike price. 


Implied Volatility 
When calculating implied volatilities, the NewtonRaphson iteration procedure uses the Manaster and Koehler (1982) seed value as the initial estimate of the volatility. This is shown below:



BaroneAdesi Whaley Function 
When calculating the critical spot prices the NewtonRaphson iteration procedure uses the BaroneAdesi Whaley seed value. This is shown below:
where is the critical price when time to expiration is infinite: b = cost of carry for the underlying asset, expressed with continuous compounding See oBAW( ) Function 


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