不好意思，再问一下，我在网上发现有euro stoxx 50的Dividend Future的historical price的信息。我认为它的underlying是euro stoxx 50的dividend.
我可以从dividend future的价格来求出它的underlying,也就是dividend,然后除以相对应的euro stoxx 50的股票价格，求出每天的dividend yield。
不知道这个想法对不对？如果对的话，怎么由每天的Dividend yield数据算出Annual dividendyield呢？
[Sum(everyday`s dividend yield)/ the number of days ]*365?
or just use the dividend to calculate:
[Sum of dividends/the number of days]*365/endindex price?
我只是大胆猜测下，因为好像index里的每个股票分发Dividend的日期不同，真不知道怎么算了{:2_36:}

OK, I give you an example.

Suppose there are only 3 stocks in the index, and we don't care when it pays the dividend.

Say stock1 pays 1%, stock 2 pays2%, stock 3 pays 1.5%.

For equally weighted portfolio, q is just 1.5%. For weighted average, you just weighted with each stock's capital size.

Actually, in Merton's option pricing formula with dividend payment, the dividend is considered "continuous" which is an impossible assumption which means the firms pays a dividend on every small time interval. For index, since there are many stocks inside, say stock1 one pays on the first day, stock 2 on the second, stock 3 on the third, we can approximately consider it as "continuous".

There is also an option pricing formula for lump sum dividend, but that is more complicated. I don't think you need that.

best,

thank u