Posibilidades para la implementación de un mercado de opciones sobre commodities en Colombia

Abstract

In the last years the markets of derivatives have had a summit better than expected, which has extended enough the possibilities of investment. Now well on this market of derivatives is pretended to diversify the risk with investments in certain goods and / or specific services, these can be of two types: Financial Assets and Commodities or tangible goods that for the purpose of the investigation the Commodities are more important. For this, we have to understand the commodities are simply brute (gross) raw materials (commodities) that have suffered very small or insignificant processes of transformation. What is wanted to find research is to look for the form to incorporate this type of options inside a investments portfolio on the Colombian Market, discriminating among the wide investment alternatives, and analyzing the factors must be had in consideration to the moment to take decisions of invest. Based in mathematical and statistical methods we look for find a correct valuation to the Options over Commodities, which possibly in at not long time, will be deal in a standardized market in Colombia, giving with this real and useful information to the investors when they take the decisions. It’s hard to find information and actual valuation of the different derivatives in the Colombian market, compared with more developed market like the American, the British, the Brazilian and the Argentinean been these two last of more importance because they are so similar in the social, political and economic facts. This project uses options valuating models like Black and Scholes Model and Binomial Trees Model, analyzing it’s applicative in the derivative Colombian market.