摘要翻译：
假设标的股票的价格在区间内移动，期权定价的Black-Scholes公式支持变量分离。利用期权价格函数的不同行为对所得的时间无关方程进行求解，得到了三个有意义的结果。第一种是股价穿透支撑或阻力位的概率，称为传导系数。二是股价一旦突破区间界限所经历的距离。最后一个是预测的短期内股票波动性急剧下降，就在价格隧道之前。这三个结果都是有用的工具，为市场从业者提供了宝贵的洞察力，帮助他们选择合适的时间参与期权合约，在突破的情况下价格会走多远，以及如何正确解释波动率的下降。
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英文标题：
《Time-independent pricing of options in range bound markets》
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作者：
Ovidiu Racorean
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最新提交年份：
2013
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分类信息：

一级分类：Quantitative Finance        数量金融学
二级分类：Pricing of Securities        证券定价
分类描述：Valuation and hedging of financial securities, their derivatives, and structured products
金融证券及其衍生产品和结构化产品的估值和套期保值
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英文摘要：
  Assuming that price of the underlying stock is moving in range bound, the Black-Scholes formula for options pricing supports a separation of variables. The resulting time-independent equation is solved employing different behavior of the option price function and three significant results are deduced. The first is the probability of stock price penetration through support or resistance level, called transmission coefficient. The second is the distance that price will go through once stock price penetrates out of the range bound. The last one is a predicted short time dramatic fall in the stock volatility right ahead of price tunneling. All three results are useful tools that give market practitioners valuable insights in choosing the right time to get involved in an option contract, about how far the price will go in case of a breakout, and how to correctly interpret volatility downfalls.
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PDF链接：
https://arxiv.org/pdf/1304.6846