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Black model
 | This article includes a list of references, related reading, or external links, but its sources remain unclear because it lacks inline citations. (March 2013) |
The Black model (sometimes known as the Black-76 model) is a variant of the Black–Scholes option pricing model. Its primary applications are for pricing options on future contracts, bond options, interest rate cap and floors, and swaptions. It was first presented in a paper written by Fischer Black in 1976.
Black's model can be generalized into a class of models known as log-normal forward models.
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