Abstrak
<div style="text-align: left; color: #111111; font-family: Arial, Verdana, Helvetica, sans-serif; font-size: 11.2px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #fafafa;"><p style="margin: 1em 0px;">The problem of the research was about the loss suffered by some investors due to the price changes in the future. In order to maximize the profit or minimize the loss, the investors should estimate the option price; both call option and put option. This research tried to describe the stock phenomena and to establish the Black-Scholes model for option pricing.</p><p style="margin: 1em 0px;">Key words: call option, put option, Black-Scholes model</p></div>