Dynamic Currency Futures and Options Hedging Model

<table class="fixed-width table-group" id="tab2"><tr><td><table class="table"><colgroup><col style="width:5.76em"/><col style="width:5.58em"/><col style="width:6.19em"/><col style="width:6.62em"/></colgroup><tr><td class="thead-hr" colspan="4"><hr/></td></tr><tr class="thead"><td class="align_left">Objective </td><td class="align_center"> P-value</td><td class="align_center"> J-B statistics</td><td class="align_center">Critical value</td></tr><tr><td class="thead-hr" colspan="4"><hr/></td></tr><tr><td class="align_left">Silver price</td><td class="align_center">1.0000e-03</td><td class="align_center"> 8.1429e+03</td><td class="align_center">5.9490</td></tr><tr><td class="align_left">CNY/USD</td><td class="align_center">1.0000e-03</td><td class="align_center">8.4688e+04</td><td class="align_center">5.9490</td></tr><tr class="table-tr"><td colspan="4"><hr class="tbody-hr"/></td></tr></table></td></tr><tr class="table-fn"><td><div><i>Note</i>. <svg height="6.1673pt" id="M156" style="vertical-align:-0.2063904pt" version="1.1" viewbox="-0.0498162 -5.96091 12.1045 6.1673" width="12.1045pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M483 97L471 123C436 91 401 65 392 65C388 65 384 74 390 106C414 239 444 378 457 429L455 433C444 433 429 436 416 439C392 444 368 448 344 448C281 448 204 415 152 376C71 315 23 205 23 103C23 21 57 -12 85 -12C114 -12 149 6 185 34C231 70 285 119 329 183H331L309 81C292 0 308 -12 326 -12C350 -12 421 24 483 97ZM374 387C370 363 356 291 345 261C315 193 181 50 139 50C124 50 110 71 110 118C110 224 153 331 218 379C238 394 271 402 301 402C329 402 359 394 374 387Z"></path></g><g transform="matrix(.013,0,0,-0.013,6.58,0)"><path d="M391 364C391 409 353 448 295 448C249 448 198 426 152 393C65 331 23 225 23 139C23 14 96 -12 146 -12C198 -12 280 9 367 101L351 124C300 78 242 48 194 48C129 48 109 107 109 162V191C208 213 391 266 391 364ZM313 350C313 305 268 261 113 223C132 334 187 381 217 398C227 404 244 405 261 405C290 405 313 385 313 350Z"></path></g></svg>± c denote that a <svg height="7.35473pt" id="M157" style="vertical-align:-0.3499303pt" version="1.1" viewbox="-0.0498162 -7.0048 7.75925 7.35473" width="7.75925pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M528 54L331 254L528 455L492 493L294 291L96 493L60 455L257 254L60 54L96 16L294 217L492 16L528 54Z"></path></g></svg><svg height="11.0031pt" id="M158" style="vertical-align:-0.2064009pt" version="1.1" viewbox="-0.0498162 -10.7967 15.335 11.0031" width="15.335pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M391 364C391 409 353 448 295 448C249 448 198 426 152 393C65 331 23 225 23 139C23 14 96 -12 146 -12C198 -12 280 9 367 101L351 124C300 78 242 48 194 48C129 48 109 107 109 162V191C208 213 391 266 391 364ZM313 350C313 305 268 261 113 223C132 334 187 381 217 398C227 404 244 405 261 405C290 405 313 385 313 350Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,5.382,-5.741)"><path d="M556 297V350H337V548H275V350H56V297H275V85H337V297H556ZM556 -23V30H56V-23H556Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,10.942,-5.741)"><path d="M387 400C387 425 348 451 303 451C247 451 176 414 132 376C69 322 24 228 24 148C24 43 74 -12 147 -12C211 -12 301 33 363 103L346 128C319 99 249 51 193 51C148 51 112 84 112 165C112 230 130 287 154 330C170 359 199 400 243 400C277 400 304 383 326 354C333 345 343 343 354 348C378 360 387 382 387 400Z"></path></g></svg>, the same after.<br/></div></td></tr></table>

Mathematical Problems in Engineering

tab2

Table 2

Table 2: Dynamic Currency Futures and Options Hedging Model 