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What is Girsanov's theorem, and why is it important in options pricing? Outline the main application of Girsanov's theorem. What is Itos lemma (state it!)

What is Girsanov's theorem, and why is it important in options pricing? Outline the main application of Girsanov's theorem.

What is Itos lemma (state it!) and how is it used in computation and pricing with numeraires? How is it used in Delta hedging? Outline the use of Delta hedging in the derivation of a call price.

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