| S/N | Name of Parameter | Description of the Parameter |
| 1 | S | Spot price of the security |
| 2 | X | Exercise price of call option |
| 3 | R | Rate of Risk-free interest |
| 4 | T | Time left until option expiry (date in year fraction) |
| 5 | σ | A measure of implied volatility (calculated as standard deviation) |