• Journal of Information Technology Services
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• v.13 no.2
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• pp.151-161
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• 2014

KOSPI 200 index options market has the highest trading volume in the global options markets. The risk and return structure of options contracts are very complex. Volatility complicates options trading because volatility plays a central role in options pricing process. This study develops a trading system for KOSPI 200 index options trading using KOSPI 200 volatility index. We design a database system to handle the complex options information such as price, volume, maturity, strike price, and volatility using Oracle DBMS. We then develop options trading strategies to test how the volatility index is related to the prices of complicated options trading strategies. Back test procedure is presented with PL/SQL of Oracle DBMS. We simulate the suggested trading system using historical data set of KOSPI 200 index options from December 2008 to April 2012.

• Asia-Pacific Journal of Business
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• v.14 no.2
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• pp.33-49
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• 2023

Purpose - The purpose of this study is to examine the option selection and optimal trading of informed traders in KOSPI 200 options market based on the PIN (probability of informed trading) model of Easley et al.(2002). Design/methodology/approach - This study uses TAQ (trade and quote) data provided by Korean Exchanges (KRX) which contains all the bids and trades recorded during the continuous auction trading hours for the KOSPI 200 options between May 2019 and September 2020. Findings - First, there was no difference in the PIN between call and put options in the 2019 data, but the PIN of put options was slightly higher in 2020. Second, regardless of the type of option, the PIN was higher for in-the-money (ITM) options, and the PIN of out-of-the-money (OTM) options was the same as or slightly higher than that of at-the-money (ATM) options. Third, we found that the PIN decreases as trading liquidity increases, and fourth, the PIN increased sharply as the expiration date approached, especially for OTM options, while ITM and ATM options showed relatively weak effects. Fifth, for foreign and institutional investors, the periodicity of orders was observed in milliseconds, especially for foreign investors, where the periodicity of orders was clear and frequent in OTM options. The results suggest that the purpose of option trading varies depending on the moneyness from the perspective of the informed trader.

• Progress in Superconductivity and Cryogenics
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• v.21 no.1
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• pp.25-30
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• 2019

This paper presents a conceptual design approach of air-cored synchronous machine with high temperature superconductor (HTS) field winding. With a given configuration of a target machine, boundary conditions are set in the cylindrical coordinate system and analytic field calculation is performed by solving a governing equation. To set proper boundary conditions, current distributions of the field winding and the armature winding are expressed by the Fourier expansion. Based on analytic magnetic field calculation results, key machine parameters are calculated: 1) inductance, 2) critical current of field winding, 3) weight, 4) HTS conductor consumption, and 5) efficiency. To investigate all potential design options, 6 sweeping parameters are determined to characterize the geometry of the machine and the parameter calculation process is performed for each design options. Among design options satisfying constraints including >80 % critical current margin and >95 % efficiency, in this paper, a first-cut design was selected in terms of overall machine weight and HTS conductor consumption to obtain a lightweight and economical design. The goal is to design a 5-MW machine by referring to the same capacity machine that was previously constructed by another group. Our design output is compared with finite element method (FEM) simulation to validate our design approach.

• Journal of Astronomy and Space Sciences
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• v.34 no.4
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• pp.331-342
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• 2017

To ensure the successful launch of the Korea pathfinder lunar orbiter (KPLO) mission, the Korea Aerospace Research Institute (KARI) is now performing extensive trajectory design and analysis studies. From the trajectory design perspective, it is crucial to prepare contingency trajectory options for the failure of the first lunar brake or the failure of the first lunar orbit insertion (LOI) maneuver. As part of the early phase trajectory design and analysis activities, the required time of flight (TOF) and associated delta-V magnitudes for each recovery maneuver (RM) to recover the KPLO mission trajectory are analyzed. There are two typical trajectory recovery options, direct recovery and low energy recovery. The current work is focused on the direct recovery option. Results indicate that a quicker execution of the first RM after the failure of the first LOI plays a significant role in saving the magnitudes of the RMs. Under the conditions of the extremely tight delta-V budget that is currently allocated for the KPLO mission, it is found that the recovery of the KPLO without altering the originally planned mission orbit (a 100 km circular orbit) cannot be achieved via direct recovery options. However, feasible recovery options are suggested within the boundaries of the currently planned delta-V budget. By changing the shape and orientation of the recovered final mission orbit, it is expected that the KPLO mission may partially pursue its scientific mission after successful recovery, though it will be limited.

• The Research Journal of the Costume Culture
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• v.21 no.2
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• pp.272-286
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• 2013

Mass customization is a marketing strategy to meet consumer needs for variation and uniqueness of products. Although there are quite a few studies quantitatively investigated the options provided by mass customization process, scholarly work related to mass customization has provided mixed results on consumer perception of complexity and their responses. The purpose of the study is to derive the factors that influence consumer complexity perception in online apparel mass customization process and consumers' needs to enhance mass customization services. Data were collected by conducting focus group interviews of which 29 participations in 4 groups. The results of the study suggested that consumers perceived complexity through mass customization process due to too many choice options. However, the effect of number of options on respondents' complexity perception was different depending on consumer characteristics such as consumer expertise and fashion involvement, and the characteristics of consumer preference development. Shopping context such as shopping purpose is another moderating factor. This study also suggests that a variety of marketing strategies which can enhance mass customization services affect the relationship between the number of options and consumers' complexity perception. The findings of the study provide academic and managerial implications.

• Journal of the Korean housing association
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• v.21 no.3
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• pp.67-76
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• 2010

The purposes of this study are to understand residents' needs in regard to living space and to suggest how to provide layout options for the infill, based on their needs, so that the residents can change their living space to suit their own need. This study analyzed residents' needs in terms of living spaces through literature reviews on apartment remodeling and related previous studies. The results are as follows: First, the residents remodeled the various infill, and remodeling works are then classified into five infill groups according to the flexible features: 1) structural elements, such as flooring, ceilings, interior walls, and windows/doors; 2) equipment elements, such as lighting and electricity, electrical wiring, heating arrangements, and water supply & drainage systems: 3) finishing material elements, such as finishing materials for floors, walls, and ceilings, skirting boards, moldings, and art walls; 4) furniture elements, such as built-in wardrobes, storage closets, and kitchen cabinets; and 5) bathroom facility elements such as faucets and sinks. Second, based on the remodeling features, four ways to provide options can be suggested. 1) options are provided for each room; 2) options are provided in connection with structural elements; 3) options are provided for each finishing material element; and 4) options are provided with the combinations of different bathroom facilities.

• Journal of the Korean Society of Mechanical Technology
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• v.13 no.2
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• pp.9-19
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• 2011

Most real world design evaluation and risk-based decision support combine quantitative and qualitative (linguistic) variables. Decision making based on conventional mathematics that combines qualitative and quantitative concepts always exhibit difficulty in modelling actual problems. The successful selection process for choosing a design/procurement proposal is based on a high degree of technical integrity, safety levels and low costs in construction, corrective measures, maintenance, operation, inspection and preventive measures. In this paper, a design decision support framework using a composite structure methodology grounded in approximate reasoning approach and evidential reasoning method is suggested for design evaluation of machinery space of a ship engine room at the initial stages. An illustrative example is used to demonstrate the application of the proposed framework.

• Journal of the Korean Society of Propulsion Engineers
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• v.21 no.2
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• pp.60-71
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• 2017

A trajectory analysis program is developed using a 3DOF trajectory model for the performance analysis of geostationary launch vehicles by system options. Launch trajectory and the performance of injection at GTO was estimated using this program for several propellant options, engine types, number of engines and the location of launch site. Results of the analysis presents that the possibility of mission accomplishment by several design options using domestic launch sites and the development direction of GEO launch vehicles.

• Journal of the Korean Society of Combustion
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• v.20 no.3
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• pp.27-34
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• 2015

The objective of the current study is to introduce detailed process for a preliminary combustor design, and to develop a computer code for it. The program includes various empirical and semi-empirical methodologies for diffuser deign, combustor sizing, air distribution, and sub-component design such as primary and secondary zones. Using the developed program, the combustor sizing results are shown from an assumption of simple annual combustor cycle analysis. Two options are employed, 1) pressure loss approach, and 2) velocity assumption approach. Design results show that there are no significant differences in combustor sizing between two design options. Further code improvement is required for performance and emission evaluations of the designed combustor.

• Journal of the Korean Society of Clothing and Textiles
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• v.43 no.3
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• pp.327-348
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• 2019

Among the many methods to make sustainable garments, convertible garments have the potential to change style and function that allow consumers to keep and use garments longer with the possibility of enhancing sustainability. This research analyzes consumer preferences in changeable design options for convertible dresses and the consumers' influence on environmentally responsible apparel consumption (ERC) behaviors on their preferences regarding changeable design options of dresses, which are popular items. An online survey collected data from a convenient sample of 321 female college students from four universities in the United States. Data were analyzed using IBM SPSS through descriptive analysis, cluster analysis, and independent samples t-test. There were significant differences between high and low ERC groups in design preferences that considered important aspects of purchasing, using convertible dresses, and purchase intentions. Detailed differences among sub-groups were analyzed. Designers are encouraged to make tying/folding/wrapping dresses with changes of size/fit, dress length, or color/pattern. The results are beneficial for apparel designers when developing convertible dresses with the guidance of consumers' design preferences and differences according to ERC levels.