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Inserting Resolution Pro Functions

There are several ways a Resolution Pro function can be entered into an Excel worksheet:

 

Manually Typing the Function

This is probably the most difficult way to enter a function, and should only be used once the user is completely familiar with the function of concern. Manually typing a function may lead to an error due to mis-entering a parameter, especially for the more complex functions. For this reason, we recommend that the user familiarize themselves with the function first by entering functions via the Excel Function Wizard or the Resolution Pro Function Finder.

 

Using the Excel Function Wizard

The function wizard is a convenient menu driven tool for accessing functions. The steps are straightforward:

Step 1.

Highlight the cell where you want the function to appear.

 

Assume the following information has been input into an Excel spreadsheet. We want to value a European call option on a stock using the Black-Scholes function (see oBS( ) Function), in cell D13:

 

 

Step 2.

Start the Function Wizard

 

To start the function wizard, select "Insert > Function" from the Excel menu bar. This will activate the function wizard.

 

 

 

Step 3.

Follow the Function Wizard though its two dialog boxes.

 

Select the Resolution Pro category from the "Category Combo Box". Note that the appearance of the function wizard may differ depending on your version of Microsoft Excel.

 

Then Choose the appropriate function and select OK.

 

Equation Template

 

 

This will activate the function template for the oBS( ) function. Enter the appropriate cell references into the parameter text boxes and select OK (alternatively, the parameters can be entered directly, i.e., without using cell references, e.g. 1 for Call/Put, "1/6/02" for Value Date, etc).

 

 

 

 

After inputting the appropriate parameter values and selecting OK, the oBS( ) function is pasted into cell D13.

 

 

 

To edit the formula, either manually make the changes in the cell (or the function bar), or re-select Insert > Function from the menu bar, which will automatically display the oBS( ) function template with the appropriate cell references / parameter values.

 

 

Using the Resolution Pro Function Database

The Function Database contains a categorized list of all the Resolution Pro functions. For instance, the Vanilla Options component has it's functions grouped into three categories; Equity Options, Currency Options, and Commodity Options. Within each category, the functions are grouped according to whether they can be used to value American, Bermudan, and/or European options, and within these sub categories, the functions are again grouped according to how they handle dividends; no dividend, discrete dividend, continuous dividend.

To insert a function, scroll through the Function Database until the most appropriate function is found, and then select "Paste Function". Although this will insert the function itself, the function's parameters will contain the parameter names rather than appropriate parameter values. The user is required to change the parameters to appropriate values.

 

Fucntion Database

 

Alternatively, if "Paste Example" is selected, then a fully functional example will be inserted into the active spreadsheet. For beginners, this approach is recommended because all of the required parameters are cell referenced, thus enabling easier manipulation of the function.

The Function Database is located in the Resolution Pro Ribbon.

 

Pasting an example from the Help Menu

In the Resolution Pro Help, there is at least one example provided for each function, e.g. oBS( ) Example 1. Copying and pasting the function specification for such examples into Excel (being careful not to paste the function into a cell that the function refers too) allows the user to verify the examples.

 

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