The Black Shoals Option Pricing Form

Fisher black was famous for also being an out of the box thinker and a, you know, he had all kinds of very fundamental questions. Fothes te s start from the absolute ground up. So let's say you wanted to ar buy protection, meaning, ah, some sort of a insurance against the stock market folling. What should the seller of this insurance policy, or an option charge the buyer? What should be the premium? It depends on a lot of different things.