__Webcast Errata__

__Chapter 9-Module 1-Part 1-Slide 18__:

In the discussion of slide 9-18, I actually said “a long forward is the obligation to sell,” and if it were not recorded for all to hear, I am certain I would not have believed that I could have made such a “speako,” which is my term for an oral typo. Of course, a long forward is an obligation to buy.

__Chapter 9-Module 4-Parts 4/5-Slides 55/56__:

In Part 5 I discovered a typo in the inequality sign in McDonald’s put convexity slide 56 and corrected that in the video, but didn’t notice a different typo in the call convexity slide 55. Here the subtractions in the numerators of both “slopes” for the call inequality are switched. So on the left hand side, the numerator is written C(K_{1})-C(K_{2}) when it should have been C(K_{2})-C(K_{1}), with the same problem on the right hand side. As both ratios are slope formulas, the conclusion for puts and calls is that the slope increases as you move from left to right.

__Chapter 10- Module 2-Part 4-Slide 37__:

Although I state the formula correctly, that the slope of the graphed line equals the ratio of the “rise” of Cu-Cd over the “run” of Su-Sd, in the formula I then wrote, I used u-d in the denominator.

__Chapter 10-Module 7-Part 3-Slides 80/81__:

The problem was stated with a time-step of 2 months, which is one-sixth of a year and thus h=0.167, and not h=0.125 as I expressed. Also, the difference between the US and foreign risk free rates (0.055-0.031) is 0.024 not 0.019.