10.6 Valuing the option The portfolio that is long 0.25 shares short 1 option is worth 4,367 The value of the shares is 5.000(=0.2520) The value of the option is therefore 0.633(=5000-4367) Options, Futures, and other Derivatives, 5th edition 2002 by John C. HullOptions, Futures, and Other Derivatives, 5th edition © 2002 by John C. Hull 10.6 Valuing the Option • The portfolio that is long 0.25 shares short 1 option is worth 4.367 • The value of the shares is 5.000 (= 0.25´20 ) • The value of the option is therefore 0.633 (= 5.000 – 4.367 )