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Consider an European option on a non-dividend-paying stock. Show that the Delta exposure given by the BSM model is expressed as follows: A(call) (Ind) -N(1.)

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Consider an European option on a non-dividend-paying stock. Show that the Delta exposure given by the BSM model is expressed as follows: A(call) (Ind) -N(1.) -N(d.) where di is defined as in the Black-Scholes-Merton formula and N() is the cumulative distribution of a standard normal

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