Opciones sobre acciones

callS 8.29 50.00000% 16.43K 8.29s 40.00%i 3.5000%t 0.2500 años 1000000 1040000

0.5

0.14375 1

-0.05625 -50.000000%

0.55715 D -50.000000%

0.47757

0.44285

0.52243 16.674009901 17340970.3 16430000

16.6740099 1.05544554

Call 0.6942 0.05544554

Put 0.62199

Teorema paridad Put-Call:

0.62199

d1

d2

N(d1)

N(d2)

N(-d1)

N(-d2)

C=P+S-Ke-r(T-t)

Put (Paridad)

253770.297

11.08911%

Opciones de divisas

S 8.29K 8.29s 40% 50.00000%

4.30%

0.61%t 0.25 años

0.14640

-0.05460

0.55820 D

0.47823

0.44180

0.52177

Call 0.69828 726209.768

Put 0.62227

Teorema paridad Put-Call:

0.62227

imex

iusd

d1

d2

N(d1)

N(d2)

N(-d1)

N(-d2)

P=C-Se(-iusd x t)+Ke(-imex x t)

Put (Paridad)

Opciones sobre futuros

Caso General

F 70K 78s 30%i 5.00%t 1 años

-0.21071

-0.51071

0.41656 D

0.30478

0.58344

0.69522

Call 5.12367

Put 12.73350

Teorema paridad Put-Call:

12.73350

d1

d2

N(d1)

N(d2)

N(-d1)

N(-d2)

P=C+Fe-r(T-t) -Ke-r(T-t)

Put (Paridad)

Date Close Rendimiento LN Rendimiento Desv Media3/28/2014 21.67 1.0098 0.9738% 0.000149093/27/2014 21.46 0.9844 -1.5719% 0.000175493/26/2014 21.8 0.9927 -0.7313% 2.3431E-053/25/2014 21.96 1.0176 1.7456% 0.000397123/24/2014 21.58 0.9729 -2.7424% 0.00062263/21/2014 22.18 0.9937 -0.6292% 1.4593E-053/20/2014 22.32 0.9978 -0.2238% 5.4983E-083/19/2014 22.37 1.0612 5.9396% 0.003827673/18/2014 21.08 1.0425 4.1653% 0.001946983/17/2014 20.22 1.0000 0.0000% 6.1114E-063/14/2014 20.22 0.9396 -6.2311% 0.003580633/13/2014 21.52 0.9451 -5.6461% 0.002914813/12/2014 22.77 0.9706 -2.9853% 0.000749713/11/2014 23.46 0.9865 -1.3548% 0.000122683/10/2014 23.78 1.0021 0.2105% 2.0948E-05

3/7/2014 23.73 0.9830 -1.7130% 0.000214863/6/2014 24.14 1.0220 2.1776% 0.000587993/5/2014 23.62 1.0225 2.2261% 0.000611743/4/2014 23.1 1.0640 6.2060% 0.004164353/3/2014 21.71 1.0028 0.2768% 2.7454E-05

2/28/2014 21.65 1.0093 0.9281% 0.000138132/27/2014 21.45 0.9885 -1.1588% 8.3092E-052/26/2014 21.7 0.9610 -3.9752% 0.001389812/25/2014 22.58 0.9609 -3.9936% 0.001403532/24/2014 23.5 0.9771 -2.3135% 0.000426942/21/2014 24.05 0.9861 -1.4038% 0.000133772/20/2014 24.39 0.9919 -0.8167% 3.2428E-052/19/2014 24.59 0.9789 -2.1324% 0.000355412/18/2014 25.12 0.9890 -1.1085% 7.4179E-052/17/2014 25.4 1.0016 0.1576% 1.6388E-052/14/2014 25.36 1.0168 1.6700% 0.000367582/13/2014 24.94 0.9944 -0.5598% 9.7697E-062/12/2014 25.08 1.0113 1.1227% 0.000187672/11/2014 24.8 0.9880 -1.2024% 9.1242E-052/10/2014 25.1 0.9763 -2.4012% 0.00046397

2/7/2014 25.71 1.0268 2.6405% 0.000833922/6/2014 25.04 1.0105 1.0438% 0.000166662/5/2014 24.78 0.9748 -2.5499% 0.000530252/4/2014 25.42 0.9841 -1.6000% 0.000183012/3/2014 25.83 1.0000 0.0000% 6.1114E-06

1/31/2014 25.83 0.9927 -0.7329% 2.3588E-051/30/2014 26.02 1.0031 0.3079% 3.0818E-051/29/2014 25.94 1.0000 0.0000% 6.1114E-061/28/2014 25.94 1.0023 0.2316% 2.2923E-051/27/2014 25.88 1.0173 1.7148% 0.000384941/24/2014 25.44 0.9766 -2.3695% 0.000450411/23/2014 26.05 0.9950 -0.4978% 6.2794E-061/22/2014 26.18 1.0038 0.3827% 3.9679E-051/21/2014 26.08 0.9860 -1.4087% 0.000134921/20/2014 26.45 0.9951 -0.4903% 5.9086E-061/17/2014 26.58 0.9892 -1.0851% 7.0212E-051/16/2014 26.87 0.9886 -1.1471% 8.098E-051/15/2014 27.18 1.0157 1.5573% 0.000325631/14/2014 26.76 1.0106 1.0519% 0.000168761/13/2014 26.48 0.9818 -1.8335% 0.000251641/10/2014 26.97 1.0357 3.5091% 0.00141101

1/9/2014 26.04 0.9845 -1.5622% 0.000172931/8/2014 26.45 0.9855 -1.4637% 0.000147991/7/2014 26.84 0.9985 -0.1489% 9.6613E-071/6/2014 26.88 1.0049 0.4848% 5.3585E-051/3/2014 26.75 0.9959 -0.4104% 2.6621E-061/2/2014 26.86 0.9967 -0.3345% 7.621E-071/1/2014 26.95 1.0000 0.0000% 6.1114E-06

12/31/2013 26.95 0.9956 -0.4443% 3.8836E-0612/30/2013 27.07 0.9912 -0.8827% 4.0382E-0512/27/2013 27.31 0.9971 -0.2925% 2.0514E-0712/26/2013 27.39 0.9967 -0.3280% 6.5345E-0712/25/2013 27.48 1.0000 0.0000% 6.1114E-0612/24/2013 27.48 1.0208 2.0589% 0.0005318112/23/2013 26.92 1.0271 2.6728% 0.0008526812/20/2013 26.21 1.0319 3.1392% 0.0011467712/19/2013 25.4 0.9953 -0.4713% 5.0228E-0612/18/2013 25.52 1.0208 2.0587% 0.0005317112/17/2013 25 1.0077 0.7629% 0.0001020312/16/2013 24.81 0.9861 -1.4009% 0.0001330912/13/2013 25.16 0.9718 -2.8601% 0.0006827412/12/2013 25.89 1.0000 0.0000% 6.1114E-0612/11/2013 25.89 1.0043 0.4258% 4.5292E-0512/10/2013 25.78 1.0074 0.7397% 9.7406E-05

12/9/2013 25.59 0.9922 -0.7785% 2.8228E-0512/6/2013 25.79 1.0178 1.7603% 0.00040312/5/2013 25.34 1.0012 0.1185% 1.3372E-0512/4/2013 25.31 1.0251 2.4801% 0.0007438412/3/2013 24.69 0.9944 -0.5654% 1.0126E-0512/2/2013 24.83 1.0008 0.0806% 1.0745E-05

11/29/2013 24.81 1.0290 2.8620% 0.0009667311/28/2013 24.11 1.0130 1.2941% 0.0002375711/27/2013 23.8 1.0206 2.0374% 0.0005219611/26/2013 23.32 0.9836 -1.6586% 0.0001991911/25/2013 23.71 0.9975 -0.2527% 3.0534E-0911/22/2013 23.77 1.0072 0.7178% 9.3117E-0511/21/2013 23.6 0.9846 -1.5556% 0.000171211/20/2013 23.97 0.9788 -2.1462% 0.0003606111/19/2013 24.49 1.0049 0.4912% 5.4525E-0511/18/2013 24.37 1.0000 0.0000% 6.1114E-0611/15/2013 24.37 1.0197 1.9474% 0.0004816511/14/2013 23.9 1.0311 3.0589% 0.0010930111/13/2013 23.18 0.9944 -0.5593% 9.7375E-0611/12/2013 23.31 1.0034 0.3438% 3.4928E-0511/11/2013 23.23 0.9910 -0.8999% 4.2606E-05

11/8/2013 23.44 1.0152 1.5044% 0.0003068311/7/2013 23.09 0.9743 -2.6075% 0.0005571211/6/2013 23.7 0.9945 -0.5470% 8.9887E-0611/5/2013 23.83 0.9909 -0.9190% 4.5126E-0511/4/2013 24.05 0.9893 -1.0753% 6.8569E-0511/1/2013 24.31 0.9814 -1.8745% 0.00026482

10/31/2013 24.77 0.9924 -0.7641% 2.672E-0510/30/2013 24.96 0.9913 -0.8775% 3.9732E-0510/29/2013 25.18 0.9996 -0.0397% 4.3059E-0610/28/2013 25.19 1.0149 1.4797% 0.0002982310/25/2013 24.82 1.0118 1.1753% 0.0002023510/24/2013 24.53 0.9840 -1.6175% 0.0001877710/23/2013 24.93 0.9461 -5.5396% 0.00280098

10/22/2013 26.35 0.9876 -1.2446% 9.9477E-0510/21/2013 26.68 0.9501 -5.1143% 0.0023688910/18/2013 28.08 0.9880 -1.2036% 9.1459E-0510/17/2013 28.42 0.9951 -0.4914% 5.9628E-0610/16/2013 28.56 0.9862 -1.3908% 0.0001307910/15/2013 28.96 0.9807 -1.9491% 0.0002896510/14/2013 29.53 1.0000 0.0000% 6.1114E-0610/11/2013 29.53 1.0293 2.8858% 0.0009815810/10/2013 28.69 1.0225 2.2204% 0.00060889

10/9/2013 28.06 1.0007 0.0713% 1.0145E-0510/8/2013 28.04 0.9729 -2.7438% 0.0006232710/7/2013 28.82 0.9907 -0.9325% 4.696E-0510/4/2013 29.09 1.0048 0.4824% 5.3237E-0510/3/2013 28.95 1.0244 2.4123% 0.0007072910/2/2013 28.26 0.9871 -1.3008% 0.00011110/1/2013 28.63 1.0254 2.5112% 0.000760889/30/2013 27.92 0.9624 -3.8297% 0.001283449/27/2013 29.01 0.9699 -3.0552% 0.000788499/26/2013 29.91 1.0067 0.6709% 8.4296E-059/25/2013 29.71 1.0189 1.8686% 0.000447669/24/2013 29.16 1.0150 1.4856% 0.000300279/23/2013 28.73 0.9993 -0.0696% 3.155E-069/20/2013 28.75 0.9965 -0.3472% 1.0002E-069/19/2013 28.85 0.9948 -0.5186% 7.3642E-069/18/2013 29 1.0469 4.5863% 0.002336329/17/2013 27.7 0.9851 -1.5049% 0.000158179/16/2013 28.12 1.0000 0.0000% 6.1114E-069/13/2013 28.12 1.0137 1.3606% 0.000258499/12/2013 27.74 0.9686 -3.1929% 0.00086779/11/2013 28.64 0.9920 -0.7999% 3.0543E-059/10/2013 28.87 1.0263 2.5966% 0.00080875

9/9/2013 28.13 1.0547 5.3297% 0.003110239/6/2013 26.67 1.0008 0.0750% 1.0383E-059/5/2013 26.65 0.9848 -1.5267% 0.000163729/4/2013 27.06 0.9840 -1.6129% 0.000186529/3/2013 27.5 0.9864 -1.3724% 0.00012669/2/2013 27.88 1.0157 1.5543% 0.00032456

8/30/2013 27.45 0.9931 -0.6898% 1.9587E-058/29/2013 27.64 1.0218 2.1577% 0.000578368/28/2013 27.05 1.0086 0.8539% 0.000121258/27/2013 26.82 0.9623 -3.8403% 0.001291038/26/2013 27.87 0.9604 -4.0434% 0.001441138/23/2013 29.02 1.0119 1.1785% 0.000203278/22/2013 28.68 0.9775 -2.2752% 0.000411268/21/2013 29.34 0.9892 -1.0848% 7.0148E-058/20/2013 29.66 1.0484 4.7291% 0.002476368/19/2013 28.29 0.9718 -2.8573% 0.000681288/16/2013 29.11 0.9945 -0.5481% 9.0554E-068/15/2013 29.27 0.9622 -3.8537% 0.001300698/14/2013 30.42 1.0215 2.1263% 0.000563378/13/2013 29.78 1.0024 0.2353% 2.3285E-058/12/2013 29.71 1.0182 1.8000% 0.00041911

8/9/2013 29.18 1.0034 0.3433% 3.4869E-058/8/2013 29.08 1.0136 1.3502% 0.000255178/7/2013 28.69 1.0418 4.0909% 0.001881938/6/2013 27.54 1.0192 1.9062% 0.000463738/5/2013 27.02 0.9772 -2.3048% 0.00042338

8/2/2013 27.65 1.0154 1.5306% 0.000316088/1/2013 27.23 1.0089 0.8853% 0.00012826

7/31/2013 26.99 1.0305 3.0089% 0.001060217/30/2013 26.19 1.0734 7.0795% 0.0053687/29/2013 24.4 1.0252 2.4898% 0.00074917/26/2013 23.8 0.9814 -1.8731% 0.000264357/25/2013 24.25 0.9661 -3.4451% 0.001022667/24/2013 25.1 1.0253 2.5011% 0.000755347/23/2013 24.48 1.0217 2.1471% 0.000573267/22/2013 23.96 1.0283 2.7932% 0.000924447/19/2013 23.3 0.9729 -2.7515% 0.000627147/18/2013 23.95 0.9796 -2.0662% 0.000330877/17/2013 24.45 0.9823 -1.7836% 0.000236057/16/2013 24.89 0.9761 -2.4212% 0.000472647/15/2013 25.5 1.0324 3.1875% 0.001179747/12/2013 24.7 1.0317 3.1253% 0.001137357/11/2013 23.94 1.0209 2.0680% 0.000536037/10/2013 23.45 1.0043 0.4274% 4.5504E-05

7/9/2013 23.35 0.9832 -1.6986% 0.000210647/8/2013 23.75 0.9508 -5.0493% 0.0023067/5/2013 24.98 0.9746 -2.5688% 0.000538987/4/2013 25.63 1.0203 2.0099% 0.000509467/3/2013 25.12 1.0316 3.1132% 0.001129277/2/2013 24.35 0.9632 -3.7482% 0.001225677/1/2013 25.28 1.0331 3.2566% 0.00122765

6/28/2013 24.47 1.0145 1.4407% 0.000284896/27/2013 24.12 1.0190 1.8833% 0.000453916/26/2013 23.67 1.0643 6.2316% 0.00419756/25/2013 22.24 0.9661 -3.4471% 0.001023926/24/2013 23.02 0.9758 -2.4459% 0.000483446/21/2013 23.59 1.0728 7.0235% 0.005286346/20/2013 21.99 1.0041 0.4101% 4.3208E-056/19/2013 21.9 1.0106 1.0558% 0.000169786/18/2013 21.67 1.0222 2.1928% 0.000595356/17/2013 21.2 0.9856 -1.4517% 0.000145076/14/2013 21.51 0.9813 -1.8882% 0.000269276/13/2013 21.92 0.9955 -0.4552% 4.3245E-066/12/2013 22.02 0.9607 -4.0059% 0.001412766/11/2013 22.92 0.9845 -1.5585% 0.000171946/10/2013 23.28 1.0256 2.5230% 0.00076739

6/7/2013 22.7 1.0000 0.0000% 6.1114E-066/6/2013 22.7 0.9978 -0.2200% 7.3931E-086/5/2013 22.75 0.9785 -2.1740% 0.000371256/4/2013 23.25 1.0030 0.3015% 3.0112E-056/3/2013 23.18 1.0013 0.1295% 1.4192E-05

5/31/2013 23.15 0.9223 -8.0873% 0.006146715/30/2013 25.1 1.0618 5.9928% 0.003893735/29/2013 23.64 0.9552 -4.5885% 0.00188475/28/2013 24.75 0.9748 -2.5530% 0.000531665/27/2013 25.39 1.0059 0.5925% 7.0518E-055/24/2013 25.24 0.9704 -3.0051% 0.00076065/23/2013 26.01 1.0097 0.9658% 0.000147145/22/2013 25.76 0.9193 -8.4096% 0.00666245/21/2013 28.02 0.9214 -8.1853% 0.006301325/20/2013 30.41 0.9207 -8.2645% 0.006427655/17/2013 33.03 0.9866 -1.3532% 0.000122325/16/2013 33.48 1.0003 0.0299% 7.6776E-06

5/15/2013 33.47 0.9718 -2.8569% 0.000681065/14/2013 34.44 1.0189 1.8758% 0.000450715/13/2013 33.8 0.9994 -0.0592% 3.5366E-065/10/2013 33.82 1.0181 1.7900% 0.00041503

5/9/2013 33.22 0.9973 -0.2706% 5.4487E-085/8/2013 33.31 1.0063 0.6324% 7.7378E-055/7/2013 33.1 0.9735 -2.6827% 0.000593175/6/2013 34 0.9855 -1.4599% 0.000147065/3/2013 34.5 1.0094 0.9319% 0.000139025/2/2013 34.18 1.0182 1.8008% 0.000419435/1/2013 33.57 1.0000 0.0000% 6.1114E-06

4/30/2013 33.57 1.0301 2.9627% 0.001030374/29/2013 32.59 0.9622 -3.8524% 0.001299754/26/2013 33.87 0.9565 -4.4465% 0.001763374/25/2013 35.41 1.0246 2.4297% 0.00071664/24/2013 34.56 0.9550 -4.6086% 0.001902164/23/2013 36.19 0.9848 -1.5355% 0.000165984/22/2013 36.75 0.9978 -0.2175% 8.8577E-084/19/2013 36.83 1.0022 0.2175% 2.1591E-054/18/2013 36.75 0.9957 -0.4344% 3.505E-064/17/2013 36.91 0.9770 -2.3297% 0.000433694/16/2013 37.78 1.0077 0.7706% 0.000103594/15/2013 37.49 0.9389 -6.3054% 0.003670134/12/2013 39.93 0.9804 -1.9837% 0.000301544/11/2013 40.73 1.0089 0.8878% 0.000128834/10/2013 40.37 1.0166 1.6484% 0.00035933

4/9/2013 39.71 0.9957 -0.4272% 3.2392E-064/8/2013 39.88 1.0053 0.5280% 6.0091E-054/5/2013 39.67 1.0038 0.3788% 3.9194E-054/4/2013 39.52 0.9950 -0.5048% 6.635E-064/3/2013 39.72 0.9757 -2.4619% 0.000490484/2/2013 40.71 1.0069 0.6902% 8.7868E-054/1/2013 40.43 0.9811 -1.9109% 0.00027678

3/29/2013 41.21

Media -0.2472%Varianza diaria 0.00062907Varianza anual 0.15852507Volatilidad 39.82%

Date Close Rendimiento LN Rendimiento Desv Media3/28/2014 40048.2 1.0034 0.3432% 1.444237E-053/27/2014 39911.01 1.0038 0.3758% 1.703178E-053/26/2014 39761.3 0.9992 -0.0797% 1.837266E-073/25/2014 39793.02 0.9993 -0.0721% 1.238419E-073/24/2014 39821.71 0.9950 -0.5010% 2.154358E-053/21/2014 40021.73 1.0102 1.0185% 0.00011137623/20/2014 39616.19 1.0207 2.0510% 0.00043592223/19/2014 38811.94 0.9999 -0.0071% 8.877847E-083/18/2014 38814.69 1.0228 2.2504% 0.00052315263/14/2014 37950.97 0.9977 -0.2277% 3.642917E-063/13/2014 38037.5 0.9845 -1.5582% 0.00023143163/12/2014 38634.83 0.9986 -0.1416% 1.096302E-063/11/2014 38689.57 1.0005 0.0480% 7.2019E-073/10/2014 38671.01 0.9938 -0.6239% 3.446136E-05

3/7/2014 38913.04 0.9933 -0.6743% 4.062469E-053/6/2014 39176.3 1.0040 0.3970% 1.882713E-053/5/2014 39021.07 0.9984 -0.1621% 1.567056E-063/4/2014 39084.36 1.0143 1.4160% 0.00021109033/3/2014 38534.82 0.9936 -0.6417% 3.657967E-05

2/28/2014 38782.89 0.9967 -0.3347% 8.8721E-062/27/2014 38912.93 1.0080 0.7929% 6.884906E-052/26/2014 38605.62 0.9893 -1.0770% 0.0001081852/25/2014 39023.65 0.9807 -1.9516% 0.00036660942/24/2014 39792.71 1.0017 0.1714% 4.336386E-062/21/2014 39724.58 1.0018 0.1773% 4.585264E-062/20/2014 39654.23 0.9912 -0.8842% 7.180031E-052/19/2014 40006.42 0.9897 -1.0331% 9.924099E-052/18/2014 40421.86 0.9923 -0.7729% 5.416843E-052/17/2014 40735.48 1.0006 0.0604% 9.460326E-072/14/2014 40710.89 1.0100 0.9922% 0.00010589762/13/2014 40308.96 0.9906 -0.9410% 8.174421E-052/12/2014 40690.06 0.9983 -0.1708% 1.793563E-062/11/2014 40759.62 1.0160 1.5908% 0.00026492332/10/2014 40116.36 0.9899 -1.0153% 9.573228E-05

2/7/2014 40525.74 1.0059 0.5864% 3.885177E-052/6/2014 40288.78 1.0102 1.0176% 0.00011119842/5/2014 39880.87 0.9949 -0.5118% 2.255872E-052/4/2014 40085.52 0.9806 -1.9620% 0.0003705952

1/31/2014 40879.75 0.9969 -0.3140% 7.677586E-061/30/2014 41008.3 1.0078 0.7795% 6.664094E-051/29/2014 40689.9 1.0007 0.0712% 1.168632E-061/28/2014 40660.93 0.9950 -0.4967% 2.114668E-051/27/2014 40863.41 0.9972 -0.2844% 6.127663E-061/24/2014 40979.8 0.9867 -1.3380% 0.00016929461/23/2014 41531.8 0.9874 -1.2705% 0.00015217711/22/2014 42062.82 1.0054 0.5344% 3.263778E-051/21/2014 41838.63 0.9967 -0.3287% 8.514469E-061/20/2014 41976.37 1.0016 0.1551% 3.686136E-061/17/2014 41911.31 0.9938 -0.6218% 3.421402E-051/16/2014 42172.73 0.9920 -0.7995% 5.815792E-051/15/2014 42511.25 1.0017 0.1682% 4.207382E-061/14/2014 42439.79 1.0067 0.6647% 4.92243E-051/13/2014 42158.62 0.9929 -0.7088% 4.515011E-051/10/2014 42458.51 1.0210 2.0775% 0.0004470545

1/9/2014 41585.54 1.0017 0.1686% 4.22183E-061/8/2014 41515.49 0.9937 -0.6318% 3.538854E-05

1/7/2014 41778.6 1.0061 0.6066% 4.140308E-051/6/2014 41525.95 0.9872 -1.2897% 0.00015695041/3/2014 42064.97 0.9971 -0.2931% 6.565637E-061/2/2014 42188.45 0.9874 -1.2687% 0.0001517294

12/31/2013 42727.09 0.9946 -0.5409% 2.540188E-0512/30/2013 42958.82 1.0048 0.4797% 2.669042E-0512/27/2013 42753.22 1.0050 0.4992% 2.874023E-0512/26/2013 42540.32 0.9989 -0.1065% 4.850227E-0712/24/2013 42585.66 1.0018 0.1825% 4.810945E-0612/23/2013 42508.03 1.0077 0.7657% 6.442083E-0512/20/2013 42183.77 0.9997 -0.0345% 5.73565E-1012/19/2013 42198.32 1.0028 0.2811% 1.011075E-0512/18/2013 42079.87 1.0077 0.7665% 6.454624E-0512/17/2013 41758.55 0.9930 -0.7051% 4.464849E-0512/16/2013 42054.02 1.0040 0.4031% 1.936073E-0512/13/2013 41884.83 0.9901 -0.9971% 9.220085E-0512/11/2013 42304.55 0.9956 -0.4376% 1.606128E-0512/10/2013 42490.1 1.0047 0.4739% 2.608628E-05

12/9/2013 42289.23 1.0087 0.8637% 8.110921E-0512/6/2013 41925.54 1.0004 0.0369% 5.440923E-0712/5/2013 41910.08 0.9978 -0.2230% 3.464584E-0612/4/2013 42003.65 1.0030 0.3023% 1.150513E-0512/3/2013 41876.86 0.9938 -0.6230% 3.434877E-0512/2/2013 42138.55 0.9915 -0.8521% 6.64518E-05

11/29/2013 42499.13 1.0080 0.8002% 7.006607E-0511/28/2013 42160.42 1.0069 0.6850% 5.211741E-0511/27/2013 41872.59 1.0212 2.0994% 0.000456369911/26/2013 41002.68 1.0013 0.1326% 2.871259E-0611/25/2013 40948.36 0.9939 -0.6103% 3.287761E-0511/22/2013 41199.02 1.0049 0.4882% 2.757268E-0511/21/2013 40998.37 1.0050 0.4959% 2.838617E-0511/20/2013 40795.56 1.0037 0.3740% 1.688627E-0511/19/2013 40643.25 0.9905 -0.9571% 8.46785E-0511/15/2013 41034.11 1.0180 1.7886% 0.000333236711/14/2013 40306.7 1.0136 1.3507% 0.000192550411/13/2013 39765.92 1.0043 0.4317% 2.19522E-0511/12/2013 39594.64 0.9977 -0.2326% 3.829183E-0611/11/2013 39686.83 0.9956 -0.4458% 1.672377E-05

11/8/2013 39864.16 0.9964 -0.3649% 1.076128E-0511/7/2013 40009.9 0.9933 -0.6730% 4.046957E-0511/6/2013 40280.09 0.9994 -0.0605% 5.558908E-0811/5/2013 40304.45 0.9827 -1.7445% 0.000291588111/4/2013 41013.72 0.9984 -0.1605% 1.528777E-0611/1/2013 41079.61 1.0010 0.0998% 1.867035E-06

10/31/2013 41038.65 0.9997 -0.0279% 8.115554E-0910/30/2013 41050.09 0.9943 -0.5691% 2.832776E-0510/29/2013 41284.38 1.0039 0.3868% 1.794653E-0510/28/2013 41125.02 1.0111 1.1086% 0.000131221610/25/2013 40671.61 1.0106 1.0502% 0.000118164710/24/2013 40246.73 0.9925 -0.7571% 5.187E-0510/23/2013 40552.59 0.9936 -0.6413% 3.652945E-0510/22/2013 40813.48 1.0116 1.1526% 0.000141477310/21/2013 40345.78 0.9983 -0.1657% 1.659539E-0610/18/2013 40412.69 1.0053 0.5290% 3.20225E-0510/17/2013 40199.47 0.9961 -0.3868% 1.224561E-0510/16/2013 40355.27 1.0034 0.3399% 1.419925E-0510/15/2013 40218.32 0.9838 -1.6369% 0.0002560207

10/14/2013 40882.09 0.9977 -0.2279% 3.649153E-0610/11/2013 40975.37 1.0120 1.1917% 0.000150949910/10/2013 40489.95 1.0156 1.5526% 0.0002526354

10/9/2013 39866.17 0.9987 -0.1270% 8.124972E-0710/8/2013 39916.84 0.9868 -1.3297% 0.000167138910/7/2013 40451.16 0.9888 -1.1268% 0.000118791610/4/2013 40909.54 1.0017 0.1674% 4.171541E-0610/3/2013 40841.13 0.9889 -1.1189% 0.000117072610/2/2013 41300.66 0.9992 -0.0838% 2.19812E-0710/1/2013 41335.27 1.0286 2.8217% 0.00081712659/30/2013 40185.23 0.9824 -1.7720% 0.00030105649/27/2013 40903.65 0.9897 -1.0311% 9.884264E-059/26/2013 41327.58 0.9905 -0.9547% 8.424191E-059/25/2013 41724.03 1.0125 1.2397% 0.00016297849/24/2013 41209.95 0.9975 -0.2538% 4.706052E-069/23/2013 41314.68 1.0022 0.2149% 6.340595E-069/20/2013 41225.98 0.9874 -1.2685% 0.00015168719/19/2013 41752.26 0.9964 -0.3585% 1.034228E-059/18/2013 41902.2 1.0186 1.8414% 0.00035279719/17/2013 41137.67 1.0004 0.0370% 5.451879E-079/13/2013 41122.47 1.0083 0.8224% 7.383032E-059/12/2013 40785.68 0.9795 -2.0743% 0.00041510499/11/2013 41640.53 0.9978 -0.2218% 3.418515E-069/10/2013 41732.98 1.0190 1.8846% 0.0003692043

9/9/2013 40953.85 1.0260 2.5692% 0.00067917249/6/2013 39915.06 1.0058 0.5744% 3.736493E-059/5/2013 39686.45 0.9978 -0.2192% 3.323281E-069/4/2013 39773.53 1.0059 0.5851% 3.868117E-059/3/2013 39541.51 0.9854 -1.4749% 0.00020679729/2/2013 40129.04 1.0161 1.5993% 0.0002677014

8/30/2013 39492.37 1.0084 0.8388% 7.668324E-058/29/2013 39162.49 0.9978 -0.2183% 3.290817E-068/28/2013 39248.07 0.9897 -1.0340% 9.942444E-058/27/2013 39656 0.9811 -1.9081% 0.00035013568/26/2013 40419.93 0.9877 -1.2421% 0.0001452638/23/2013 40925.13 0.9980 -0.2009% 2.690128E-068/22/2013 41007.43 0.9891 -1.0931% 0.00011156958/21/2013 41458.16 0.9912 -0.8819% 7.140716E-058/20/2013 41825.4 1.0082 0.8190% 7.325276E-058/19/2013 41484.25 0.9866 -1.3538% 0.00017343858/16/2013 42049.7 0.9975 -0.2509% 4.580908E-068/15/2013 42155.34 0.9935 -0.6497% 3.755331E-058/14/2013 42430.11 1.0015 0.1501% 3.497968E-068/13/2013 42366.45 1.0057 0.5719% 3.706367E-058/12/2013 42124.84 0.9877 -1.2360% 0.000143792

8/9/2013 42648.74 0.9985 -0.1483% 1.242204E-068/8/2013 42712.05 1.0110 1.0960% 0.00012833228/7/2013 42246.5 1.0079 0.7882% 6.807662E-058/6/2013 41914.82 0.9999 -0.0086% 8.018123E-088/5/2013 41918.41 0.9968 -0.3172% 7.859705E-068/2/2013 42051.6 1.0045 0.4477% 2.348089E-058/1/2013 41863.76 1.0251 2.4810% 0.0006339953

7/31/2013 40837.88 1.0149 1.4834% 0.00023113447/30/2013 40236.55 0.9974 -0.2614% 5.040222E-067/29/2013 40341.86 0.9824 -1.7756% 0.00030232527/26/2013 41064.58 1.0077 0.7639% 6.412217E-057/25/2013 40752.09 0.9979 -0.2131% 3.106585E-06

7/24/2013 40839.04 1.0012 0.1198% 2.453671E-067/23/2013 40790.16 1.0168 1.6624% 0.00028875527/22/2013 40117.67 1.0057 0.5649% 3.621831E-057/19/2013 39891.67 0.9912 -0.8826% 7.152315E-057/18/2013 40245.31 1.0001 0.0127% 2.460527E-077/17/2013 40240.19 1.0146 1.4535% 0.00022213787/16/2013 39659.51 0.9836 -1.6574% 0.0002626217/15/2013 40322.32 0.9998 -0.0186% 3.351579E-087/12/2013 40329.81 0.9963 -0.3713% 1.118313E-057/11/2013 40479.83 1.0120 1.1949% 0.00015172537/10/2013 39999.02 0.9945 -0.5534% 2.668223E-05

7/9/2013 40221 1.0037 0.3720% 1.672159E-057/8/2013 40071.64 0.9864 -1.3668% 0.00017686247/5/2013 40623.09 0.9860 -1.4111% 0.00018885727/4/2013 41200.4 1.0091 0.9059% 8.888407E-057/3/2013 40828.85 0.9999 -0.0089% 7.834701E-087/2/2013 40832.48 0.9916 -0.8397% 6.445422E-057/1/2013 41176.8 1.0136 1.3533% 0.0001932658

6/28/2013 40623.3 1.0245 2.4232% 0.00060519646/27/2013 39650.75 1.0218 2.1554% 0.00048060086/26/2013 38805.27 1.0238 2.3558% 0.00057250416/25/2013 37901.77 1.0102 1.0194% 0.00011157416/24/2013 37517.36 0.9864 -1.3741% 0.00017882666/21/2013 38036.46 1.0138 1.3745% 0.00019919626/20/2013 37517.23 0.9609 -3.9913% 0.0015637636/19/2013 39044.95 0.9895 -1.0573% 0.00010413466/18/2013 39459.98 0.9977 -0.2265% 3.595717E-066/17/2013 39549.46 1.0071 0.7109% 5.591759E-056/14/2013 39269.3 0.9946 -0.5388% 2.519634E-056/13/2013 39481.47 1.0000 0.0028% 1.577498E-076/12/2013 39480.35 0.9897 -1.0329% 9.919749E-056/11/2013 39890.24 0.9796 -2.0621% 0.00041014496/10/2013 40721.35 1.0121 1.2073% 0.0001547967

6/7/2013 40232.68 0.9915 -0.8573% 6.730977E-056/6/2013 40579.08 1.0088 0.8731% 8.280483E-056/5/2013 40226.33 0.9871 -1.2944% 0.00015813296/4/2013 40750.4 0.9916 -0.8416% 6.47641E-056/3/2013 41094.82 0.9881 -1.1937% 0.0001338295

5/31/2013 41588.32 1.0147 1.4625% 0.00022482675/30/2013 40984.5 1.0085 0.8466% 7.806248E-055/29/2013 40638.97 0.9969 -0.3073% 7.311901E-065/28/2013 40764.04 1.0154 1.5311% 0.00024586085/27/2013 40144.65 0.9907 -0.9338% 8.044352E-055/24/2013 40521.27 1.0004 0.0395% 5.83301E-075/23/2013 40505.27 1.0096 0.9582% 9.900971E-055/22/2013 40119.02 0.9894 -1.0647% 0.00010563655/21/2013 40548.44 0.9871 -1.3035% 0.00016042085/20/2013 41080.43 0.9826 -1.7525% 0.00029435135/17/2013 41806.73 1.0011 0.1092% 2.133401E-065/16/2013 41761.11 0.9966 -0.3445% 9.463667E-065/15/2013 41905.23 0.9995 -0.0475% 1.127796E-085/14/2013 41925.14 1.0038 0.3781% 1.722297E-055/13/2013 41766.91 1.0006 0.0608% 9.53381E-075/10/2013 41741.54 1.0014 0.1412% 3.171498E-06

5/9/2013 41682.64 0.9900 -1.0014% 9.302654E-055/8/2013 42102.14 0.9928 -0.7207% 4.676209E-055/7/2013 42406.67 1.0049 0.4933% 2.810994E-05

5/6/2013 42197.99 0.9905 -0.9530% 8.393207E-055/3/2013 42602.07 1.0122 1.2092% 0.00015528235/2/2013 42090.01 0.9959 -0.4113% 1.401848E-05

4/30/2013 42263.48 1.0084 0.8386% 7.665103E-054/29/2013 41910.53 1.0003 0.0323% 4.784376E-074/26/2013 41897 0.9847 -1.5406% 0.00022612224/25/2013 42547.47 1.0060 0.5953% 3.996746E-054/24/2013 42294.93 0.9810 -1.9172% 0.00035354134/23/2013 43113.61 1.0046 0.4636% 2.504762E-054/22/2013 42914.2 1.0025 0.2474% 8.080434E-064/19/2013 42808.17 1.0082 0.8162% 7.276737E-054/18/2013 42460.21 0.9965 -0.3543% 1.007499E-054/17/2013 42610.91 0.9858 -1.4278% 0.00019347674/16/2013 43223.69 1.0056 0.5552% 3.505516E-054/15/2013 42984.38 0.9768 -2.3450% 0.00053273594/12/2013 44004.27 0.9909 -0.9143% 7.698014E-054/11/2013 44408.43 1.0006 0.0622% 9.811021E-074/10/2013 44380.83 1.0093 0.9228% 9.209331E-05

4/9/2013 43973.18 1.0125 1.2407% 0.00016321264/8/2013 43430.99 1.0043 0.4309% 2.188157E-054/5/2013 43244.25 0.9926 -0.7429% 4.984052E-054/4/2013 43566.69 0.9965 -0.3457% 9.53824E-064/3/2013 43717.57 0.9910 -0.9016% 7.477006E-054/2/2013 44113.5 1.0041 0.4111% 2.006903E-054/1/2013 43932.52

Media -0.0369%Varianza diaria 0.00010617Varianza anual 0.02675482Volatilidad 16.36%

Periodo 28 90 175 3601% 2% 3% 4%

Tasa Frowars 2.45485% 4.06951% 4.95488% 5.49532%

Periodo 180 360 540 7202.23% 3.55% 4.32% 4.74%

1092 1604 2116 2628 3140 3652 41645% 6% 7% 8% 9% 10% 11%

8.16474% 10.19430% 12.23291% 14.28042% 16.33665% 18.40145%

900 1080 1260 1440 1620 18004.34% 4.02% 3.58% 3.08% 2.54% 1.98%

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Interpo-lacionBanxico