Volatility smileVolatility smiles are implied volatility patterns that arise in pricing financial options. It is a parameter (implied volatility) that is needed to be modified for the Black–Scholes formula to fit market prices. In particular for a given expiration, options whose strike price differs substantially from the underlying asset's price command higher prices (and thus implied volatilities) than what is suggested by standard option pricing models. These options are said to be either deep in-the-money or out-of-the-money.
Volatility (finance)In finance, volatility (usually denoted by σ) is the degree of variation of a trading price series over time, usually measured by the standard deviation of logarithmic returns. Historic volatility measures a time series of past market prices. Implied volatility looks forward in time, being derived from the market price of a market-traded derivative (in particular, an option).
Organic reactionOrganic reactions are chemical reactions involving organic compounds. The basic organic chemistry reaction types are addition reactions, elimination reactions, substitution reactions, pericyclic reactions, rearrangement reactions, photochemical reactions and redox reactions. In organic synthesis, organic reactions are used in the construction of new organic molecules. The production of many man-made chemicals such as drugs, plastics, food additives, fabrics depend on organic reactions.
Boundary layerIn physics and fluid mechanics, a boundary layer is the thin layer of fluid in the immediate vicinity of a bounding surface formed by the fluid flowing along the surface. The fluid's interaction with the wall induces a no-slip boundary condition (zero velocity at the wall). The flow velocity then monotonically increases above the surface until it returns to the bulk flow velocity. The thin layer consisting of fluid whose velocity has not yet returned to the bulk flow velocity is called the velocity boundary layer.
CelluloseCellulose is an organic compound with the formula (C6H10O5)n, a polysaccharide consisting of a linear chain of several hundred to many thousands of β(1→4) linked D-glucose units. Cellulose is an important structural component of the primary cell wall of green plants, many forms of algae and the oomycetes. Some species of bacteria secrete it to form biofilms. Cellulose is the most abundant organic polymer on Earth. The cellulose content of cotton fiber is 90%, that of wood is 40–50%, and that of dried hemp is approximately 57%.
ViscosityThe viscosity of a fluid is a measure of its resistance to deformation at a given rate. For liquids, it corresponds to the informal concept of "thickness": for example, syrup has a higher viscosity than water. Viscosity is defined scientifically as a force multiplied by a time divided by an area. Thus its SI units are newton-seconds per square metre, or pascal-seconds. Viscosity quantifies the internal frictional force between adjacent layers of fluid that are in relative motion.
Star formationStar formation is the process by which dense regions within molecular clouds in interstellar space, sometimes referred to as "stellar nurseries" or "star-forming regions", collapse and form stars. As a branch of astronomy, star formation includes the study of the interstellar medium (ISM) and giant molecular clouds (GMC) as precursors to the star formation process, and the study of protostars and young stellar objects as its immediate products. It is closely related to planet formation, another branch of astronomy.
Methods of detecting exoplanetsAny planet is an extremely faint light source compared to its parent star. For example, a star like the Sun is about a billion times as bright as the reflected light from any of the planets orbiting it. In addition to the intrinsic difficulty of detecting such a faint light source, the light from the parent star causes a glare that washes it out. For those reasons, very few of the exoplanets reported have been observed directly, with even fewer being resolved from their host star.
Chemical weaponA chemical weapon (CW) is a specialized munition that uses chemicals formulated to inflict death or harm on humans. According to the Organisation for the Prohibition of Chemical Weapons (OPCW), this can be any chemical compound intended as a weapon "or its precursor that can cause death, injury, temporary incapacitation or sensory irritation through its chemical action. Munitions or other delivery devices designed to deliver chemical weapons, whether filled or unfilled, are also considered weapons themselves.
Protecting groupA protecting group or protective group is introduced into a molecule by chemical modification of a functional group to obtain chemoselectivity in a subsequent chemical reaction. It plays an important role in multistep organic synthesis. In many preparations of delicate organic compounds, some specific parts of their molecules cannot survive the required reagents or chemical environments. Then, these parts, or groups, must be protected. For example, lithium aluminium hydride is a highly reactive but useful reagent capable of reducing esters to alcohols.
Wood preservationWood easily degrades without sufficient preservation. Apart from structural wood preservation measures, there are a number of different chemical preservatives and processes (also known as timber treatment, lumber treatment or pressure treatment) that can extend the life of wood, timber, and their associated products, including engineered wood. These generally increase the durability and resistance from being destroyed by insects or fungi. As proposed by Richardson, treatment of wood has been practiced for almost as long as the use of wood itself.
PhenolPhenol, or Benzenol, (also known as carbolic acid or phenolic acid) is an aromatic organic compound with the molecular formula . It is a white crystalline solid that is volatile. The molecule consists of a phenyl group () bonded to a hydroxy group (). Mildly acidic, it requires careful handling because it can cause chemical burns. Phenol was first extracted from coal tar, but today is produced on a large scale (about 7 million tonnes a year) from petroleum-derived feedstocks.
