>'HVFULSWLRQ@ 6HWV WKH WLPH WKDW WKH SULQWHU ZDLWV IRU VOLS SDSHU WR EH LQVHUWHG DQG
WKH WLPH IURP LQVHUWLRQ RI WKH VKHHW WR WKH VWDUW RI SULQWLQJ
W VSHFLILHV WKH ZDLW WLPH IRU D FXW VKHHW WR EH LQVHUWHG 7KHUH LV QR
OLPLWDWLRQ IRU WKH ZDLW WLPH DQG WKH SULQWHU ZDLWV XQWLO VOLS SDSHU LV
LQVHUWHG
W VSHFLILHV WKH WLPH IURP LQVHUWLRQ RI WKH VKHHW WR WKH VWDUW RI
SULQWLQJ
7KH SULQWHU VWDUWV RSHUDWLRQ >W × @ VHFRQGV DIWHU GHWHFWLQJ VOLS
SDSHU
>1RWH@
:KHQ HLWKHU W RU W LV RXW RI WKH VSHFLILHG UDQJH WKLV FRPPDQG GRHV
QRW FKDQJH WKH SUHYLRXVO\ VHW ZDLW WLPH
>'HIDXOW@
W
(6& S P W W
>1DPH@
*HQHUDWH SXOVH
>)RUPDW@
$6&,,
+H[
'HFLPDO
>5DQJH@
P
≤ W ≤
≤ W ≤
>'HVFULSWLRQ@ 2XWSXWV WKH SXOVH VSHFLILHG E\ W DQG W WR FRQQHFWRU SLQ P DV
IROORZV
P
>1RWHV@
7KH SXOVH 21 WLPH LV >W
,I P LV RXWVLGH WKH VSHFLILHG UDQJH WKH SULQWHU LJQRUHV WKLV
FRPPDQG DQG WKH IROORZLQJ GDWD LV SURFHVVHG DV QRUPDO GDWD
(6& T
>1DPH@
3DSHU UHOHDVH
>)RUPDW@
$6&,,
+H[
'HFLPDO
>'HVFULSWLRQ@ 5HOHDVHV WKH SDSHU
>1RWHV@
7KLV FRPPDQG LV DYDLODEOH RQO\ LQ VWDQGDUG PRGH
:KHQ WKH SDQHO EXWWRQ LV GLVDEOHG DQG WKH VSHFLILHG SDSHU VHQVRU
GHWHFWV D SDSHUHQG WKH SULQWHU UHOHDVHV WKH SDSHU UHJDUGOHVV RI
WKLV FRPPDQG
W
(6&
S
%
&RQQHFWRU SLQ
'UDZHU NLFNRXW FRQQHFWRU SLQ
'UDZHU NLFNRXW FRQQHFWRU SLQ
(6&
T
%
P W W
P W W
P W W
PV@ DQG WKH 2)) WLPH LV >W
PV@
&RPPDQGV