In the below image, on step 5, they have the formula:
e^(-qt)*sqrt(T-t)* N'(d1)(d2/σ)
Step 6, they adjust the bolded part to:
e^(-qt)*sqrt(T-t)* N'(d1)(1-d1)
and I can't seem to figure out how they did it. I'd be grateful if anyone had a little bit of knowledge they'd want to share. (I included the part about vega formula below this image and a link to the actual PDF as well.)
https://acfr.aut.ac.nz/__data/assets/pdf_file/0017/185300/172496-K-Huang-Vanna-Volga_Auckland.pdf
Cheers,
NN
e^(-qt)*sqrt(T-t)* N'(d1)(d2/σ)
Step 6, they adjust the bolded part to:
e^(-qt)*sqrt(T-t)* N'(d1)(1-d1)
and I can't seem to figure out how they did it. I'd be grateful if anyone had a little bit of knowledge they'd want to share. (I included the part about vega formula below this image and a link to the actual PDF as well.)
https://acfr.aut.ac.nz/__data/assets/pdf_file/0017/185300/172496-K-Huang-Vanna-Volga_Auckland.pdf
Cheers,
NN