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Based on Big Data: The Analysis of Asian Options Compared With European Options in Chinese Market

Although Asian options possess the advantages of being cheaper and more stable than European options, the Chinese financial market rarely contains any type of Asian options. Hence, this research aims to evaluate the performance of Asian options and investigate the prospect of applying the options market in China. The Monte Carlo simulations and sensitivity tests are carried out for Asian and European options pricing by the Black-Scholes model based on three different underlying assets: SH600251, DCE A, and DCE J. According to the simulations, the premium of Asian options is lower than the premium of European options. Moreover, the sensitivity test demonstrates that Asian options seem to be less sensitive to the option price because the return is determined by the average price of a set of underlying prices over a preset period. Therefore, Asian options have good development prospects in China, despite the premium of Asian options is slower to respond to changes in the underlying assets. These results offer a guideline for the implementation of Asian options in Chinese markets.