We study price formulas suited for empirical research in financial markets in which put–call parity is satisfied. We find a connection between risk and the bid–ask spread. We further study the compatibility of the model with market frictions, and determine market subsets where the Fundamental Theorem of Asset Pricing applies. Finally, we characterize the price formula.

中文翻译：

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卖出平价和广义新可加价定价规则

我们研究适用于满足看跌期权平价的金融市场中的经验研究的价格公式。我们发现风险与买卖差价之间存在联系。我们进一步研究模型与市场摩擦的兼容性，并确定资产定价基本定理适用的市场子集。最后，我们描述价格公式。