Perelló, Josep, 1974-Porrà i Rovira, Josep MariaMontero Torralbo, MiquelMasoliver, Jaume, 1951-2018-01-252018-01-252000-04-010378-4371https://hdl.handle.net/2445/119285Options are financial instruments designed to protect investors from the stock market randomness. In 1973, Fisher Black, Myron Scholes and Robert Merton proposed a very popular option pricing method using stochastic differential equations within the Itô interpretation. Herein, we derive the Black-Scholes equation for the option price using the Stratonovich calculus along with a comprehensive review, aimed to physicists, of the classical option pricing method based on the Itô calculus. We show, as can be expected, that the Black-Scholes equation is independent of the interpretation chosen. We nonetheless point out the many subtleties underlying Black-Scholes option pricing method.15 p.application/pdfeng(c) Elsevier B.V., 2000Matemàtica financeraProcessos estocàsticsBusiness mathematicsStochastic processesinfo:eu-repo/semantics/article1527222018-01-25info:eu-repo/semantics/openAccess