The Supershare function calculates the theoretical price, sensitivities, the implied volatility, and the implied strike value of a European supershare option using Hahansson’s model. See Binary Options for a further explanation.
Supershare 
(ModelStatistic, Asset, LowerStrike, UpperStrike, TimeExpire, Volatility, InterestRate, YieldRate, MarketPrice, TimeFormat, InterestType, YieldType) 
Note: Optional arguments are shown in Italics. MarketPrice is not Optional for the Implied Calculations.
Argument 
Description 
ModelStatistic 
Numeric value indicating the type of function required for the return value: •Theoretical = 1 •Delta = 2 •Gamma = 3 •Theta = 4 •ImpliedVol = 5 •Vega = 6 •Rho = 7 •Psi = 8 •Lambda = 9 •StrikeSensLow = 22 (Strike Sensitivity of the Lower Strike) •ImpliedStrikeLow = 23 (Implied Lower Strike Value) •StrikeSensUp = 24 (Strike Sensitivity of the Upper Strike) •ImpliedStrikeUp = 25 (Implied Upper Strike Value) 
Asset 
The price of the underlying asset. Must be > 0. 
LowerStrike 
The lower strike price that determines if the option has a payoff. Must be > 0. 
UpperStrike 
The upper strike price that determines if the option has a payoff. Must be > 0. 
TimeExpire 
Time, expressed in either Days or Years (depending on the TimeFormat value), until the options expiration. Must be > 0. 
Volatility 
Annualized volatility of the underlying security. Must be > 0. 
InterestRate 
Riskfree interest rate expressed as a percentage. This rate is interpreted as a continuously compounded rate unless otherwise specified in the InterestType argument. Must be > 0. 
YieldRate 
Yield, expressed as a percentage (dividends or interest yield), of the underlying asset price. This rate is interpreted as a continuously compounded rate unless specified otherwise in the YieldType argument. 
MarketPrice 
Optional. The selling price of the option in the marketplace. This input is required when implied volatility and strike are calculated. Price must be > 0. 
TimeFormat 
Optional. Alphanumeric value indicating the format of the time arguments (i.e. TimeExpire). If omitted, Days are used as the default. Specified as either: •Days = 0 or "D" (case insensitive) •Years = 1 or "Y" (case insensitive) 
InterestType 
Optional. Alphanumeric value indicating the type of InterestRate to use when evaluating the option. This value is converted to Continuously Compounded for the calculations. If omitted, a Continuously Compounded rate is used. 
YieldType 
Optional. Alphanumeric value indicating the type of YieldRate to use when evaluating the option. This value is converted to Continuously Compounded for the calculations. If omitted, a Continuously Compounded rate is used. 
Example
Calculate all of functions for a supershare option whose asset price 175 days from expiration is $43, the lower exercise price is $40, the upper exercise price is $45, the riskfree interest rate is 8% per annum, the yield rate is 5.5% per annum, and the annual volatility is 23%. All of the rates are considered continuous. So, 
Input 

Output 

Variable 
Value 

Function 
Name 
Value 
Asset 
43 

1 
Theoretical: 
0.293880 
LowerStrike 
40 

2 
Delta: 
0.002972 
UpperStrike 
45 

3 
Gamma: 
0.005888 
InterestRate 
8% 

4 
Theta: 
0.000862 
YieldRate 
5.5% 

5 
Implied Vol.: 
0.225002 
TimeExpire 
175 

6 
Vega: 
0.012004 
Volatility 
23% 

7 
Rho: 
0.002022 
TimeFormat 
Days 

8 
Psi: 
0.000613 
MarketPrice 
0.3 

9 
Lambda: 
0.434849 



22 
Strike Sens Low: 
0.057790 



23 
Implied Strike Low: 
45.106124 



24 
Strike Sens Upper: 
0.061819 



25 
Implied Strike Upper: 
39.900943 
For a further example on this model see the included Excel Template located in the root directory of the addin. This example can be accessed through the Binary Template menu item after the addin has been installed properly.
A list of all of the possible Error Messages is included for convenience.