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APPLYING THE SYSTEM
(experiment with the system by entering data in the form below):

The guarantee is that the forecast will be in error by no more than 3 deg C. The terms of the guarantee are that the seller of the guarantee will pay the buyer $100 for each 0.1 deg C greater than 3 deg C that the forecast is in error.

The instrument is made up of a combination of a call option and a put option about the next day's maximum temperature at Melbourne, the "strikes" being set respectively 3 deg C above and below the forecast temperature. The taker of this option combination receives $100 for each 0.1 deg C that the observed temperature is above or below the respective strikes.

Enter MSL pressure data:
1) MSL pressure at Melbourne: 2) MSL pressure at Hay:
3) MSL pressure at Smithton: 4) MSL pressure at Gabo Is:
5) MSL pressure at Mt Gambier: 6) MSL pressure at Forrest:
Enter other data:
7) Current Month (1,2...12):
Information about "Fair Value":
8) Cost of Protection: $
9) Synoptic Type:

VIEW SYNOPTIC TYPE: Note: After clicking on the appropriate synoptic type, a new window, with an analysis, will appear. Exiting from the new window will return you to the original window. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50

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