How to value equities using commodity futures options

摘要

In mid-December 2011, the Organization of Petroleum Exporting Countries (OPEC) surprised the energy markets by deciding to increase oil production with a new output target of 30 million barrels a day. Bloomberg reported that crude oil for January declined $5.19, or 5.2%. On Dec. 14, March crude oil fell $5.11 to $95.37 - up from $76.53 on Sept. 4, but at the time on a short-term downtrend.