Strike

Empirical Prices

Non-increasing exponential costs

Without arbitrage

With arbitrage

139

13.55

12.57

12.98

(0.0723)

(0.042)

144

9.95

9.14

9.46

(0.0814)

(0.0492)

149

6.50

6.28

6.52

(0.0339)

(0.0031)

154

4.00

4.07

4.23

(0.0175)

(0.0575)

159

2.50

2.50

2.60

(0.0000)

(0.0400)

MAPE

4.10%

3.84%

MAE

0.4160

0.2820