Dollar/1 is an arbitrage-free forward exchange rate without considering transaction costs, which is slightly higher than the current futures exchange rate of USD/1.46, and there is an arbitrage opportunity in theory.
If only two decimal places are reserved, the current futures exchange rate pricing is reasonable in theory. After considering the option price, there is an arbitrage opportunity. Boeing can sell 65,438+0,000 options, each of which corresponds to one pound. After one year, the exercise price is 1.46 USD/1 GBP, and the option fee is 654,380+GBP. At the same time, forward settlement is carried out.