PT Bhuwanatala Indah Permai Tbk

BLACK-SCHOLES MODEL
Input Data
Stock Price per Acquisition
Exercise Price (EX)
Number of periods to Exercise in years (t)
Compounded Risk-Free Interest Rate (rf)
Standard Deviation (annualized

82
11
2.42
5.60%
244.38%

Output Data
Present Value of Exercise Price (PV(EX))
*t^.5
d1
d2
Delta N(d1) Normal Cumulative Density Function
Bank Loan N(d2)*PV(EX)

9.6059
3.8016
2.4649
-1.3367
0.9931
0.8708

Value of Call

80.5672

Input data share price

Close Price
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Mean
var.
std.dev
std.dev. Ann.

Aug-15
18
16
16
16
16
14
15
16
16
14
14
14
12
14
14
14
14
14
12
13

Sep-15
10
10
9
10
10
9
8
11
9
9
9
9
10
9
9
9
9
9
10
10
10

Oct-15
10
10
10
11
11
9
9
9
9
10
10
10
10
8
10
10
11
11
11
11
12

Nov-15
14
15
14
13
15
16
15
15
14
14
15
15
15
15
15
15
15
18
18
14
14

Dec-15
13
13
13
13
13
13
13
13
13
13
13
13
13
13
19
19
19
12
11

47.80
62.80
15.70
3.96
244%

30.00
52.40
13.10
3.62

31.20
44.20
11.05
3.32

47.00
26.20
6.55
2.56

44.00
45.40
11.35
3.37

Jan-16
11
12
11
13
11
10
10
11
11
10
11
11
11
11
12
12
11
11
11
10

Feb-16
11
10
11
11
11
11
11
11
11
11
11
11

Mar-16
9
10
10
10
12
8
9
8
10
10
9
10
9
15
14
12
13
13
12
12
12

Apr-16
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12
12

May-16
12
12
12
12
12
12
12
12
12
11
12
10
12
11
12
12
11
11
11

35.60
33.00
8.25
2.87

26.20
-22.80
-5.70

33.00
520.80
130.20
11.41

12.00
0.00
0.00
0.00

11.05
0.55
0.03
0.17

Jun-16
11
10
11
11
11
11
11
11
11
11
11
11

11.91
1.08
0.11
0.33