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Fig. 1. Optimal exercise boundaries of American barrier options with di!erent barrier levels
Fig. 2. Price homogeneity of optimal exercise boundaries of American &up-and-out' put options
Fig. 3. Stationarity of optimal exercise boundaries of American &¹!solid curve (stationarity)
Table 1Prices of American &up-and-out' put options on non-dividend-paying stocks (K"$45; H"$50;
+6

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