bwBASIC/BP100/WARVAL.BAS

10 CLS
20 PRINT"          VALUE OF A WARRENT"
30 PRINT
40 PRINT"THIS PROGRAM WILL ALLOW THE USER TO COMPUTE THE THEORETICAL
50 PRINT"VALUE OF A WARRANT AND THE VALUES OF BOTH SHORT TERM AND
60 PRINT"LONG TERM WARRANTS.
70 PRINT:INPUT"PRESS ENTER TO BEGIN";Z9
100 CLS
110 INPUT"HOW MANY SHARES MAY BE PURCHASED WITH ONE WARRANT";N
120 INPUT"WHAT IS THE EXERCISE PRICE PER SHARE OF STOCK    ";EX
130 INPUT"WHAT IS THE MARKET PRICE OF ONE SHARE OF STOCK   ";PS
140 PRINT
210 INPUT"IS WARRANT LIFE AT LEAST 5 YEARS(Y/N)";Z9$
220 IF Z9$="N" GOTO 300
230 IF Z9$="Y" GOTO 400
240 PRINT"INPUT ERROR! TRY AGAIN!":PRINT:GOTO 210
300 REM SHORT TERM WARRANT VALUATION
305 PRINT
310 INPUT"NUMBER OF YEARS TO EXPIRATION";NY
315 INPUT"EXPECTED ANNUAL GROWTH RATE OF STOCK PRICE IN %";AG
320 INPUT"VOLATILITY OR ANNUAL STANDARD DEVIATION OF STOCK PR. IN %";SD
325 AGR=(1+AG/100)[NY:ASD=SD*SQR(NY)/100
330 C=1.65*(PS/EX)*AGR*(1+ASD)
340 IF C < PS/EX  THEN V=EX*(PS/EX - 1):HR=1 GOTO 360
350 V=EX*(C-1)*(PS/(EX*C))[(C/(C-1)):HR=(PS/(EX*C))[(1/(C-1))
360 GOTO 420
400 REM LONG TERM WARRANT VALUATION
405 HR=0
410 V=(SQR(EX[2 + PS[2)-EX)*N
420 CLS
430 PRINT"THE VALUE OF THE WARRANT EQUALS ";V
435 IF HR<>0 THEN PRINT"THE HEDGE RATIO EQUALS ";HR
440 PRINT"THE THEORETICAL VALUE OF THE WARRANT = ";N*(PS-EX)
450 PRINT:INPUT"PRESS ENTER FOR MORE COMPUTATION";Z9
455 IF Z9 = -1 THEN END
460 GOTO 100