Choose a United States equity whereby its options are listed on the Chicago Board Options Exchange (CBOE). The data for prices is in the "delayed quotes" menu of www.cboe.com . Key in a ticker symbol for your equity preference and extract the data on option prices.

Utilising daily stock price data from finance.yahoo.com, calculate the annualised standard deviation of the daily percentage change in the equity price.

Generate a Black-Scholes option pricing model in a spreadsheet. Using the standard deviation and a risk-free rate found at https://www.bloomberg.com/markets/rates-bonds/government-bonds/us, calculate the value of the call options.

How do the calculated values compare to the market prices of the options ? On the basis of the difference between the price you calculated utilising historical risk and the actual price of the option, what do you conclude about expected trends in systematic risk ?