@booklet {yaacovzbergman-gpoop1995,
	title = {General Properties of Option Prices},
	howpublished = {Discussion Papers},
	year = {1995},
	month = {5},
	publisher = {Journal of Finance 51 (1996), 1573-1610},
	abstract = {This article establishes that, in a one-dimensional diffusion world, any contingent claim{\textquoteright}s delta is bounded by its delta at maturity and, if its payoff is convex, its current value is convex in the underlying{\textquoteright}s value. A decline in the present value of the exercise price can be associated with a decline in a call{\textquoteright}s price. Bounds on call prices and deltas are derived for the case when the underlying{\textquoteright}s volatility is bounded. If the underlying follows a multi-dimensional diffusion (a stochastic volatility world), or a discontinuous or non-Markovian process, call prices can be decreasing, concave function of the underlying{\textquoteright}s value.},
	url = {/files/dp77.pdf},
	author = {Yaacov Z. Bergman, Bruce D. Grundy and Zvi Wiener}
}
