中文摘要：

巴黎期权是一种复杂的路径依赖期权,近年来在很多领域取得了广泛应用。为了提高收敛速度,本文运用欧拉求和法改进了原本的截尾级数的逆变换方法。接着文章给出了向下敲入看涨巴黎期权定价的算例并进行了敏感性分析,通过分析指出了巴黎期权在对冲策略上的难点所在,并提出了一种前向对冲法作为改进的对冲策略。

英文摘要：

Parisian option is a complicated path-dependent option, which has been applied in a lot of fields. In order to improve convergence, Euler summation formula is provided. Finally we discuss the sensitivity of Parisian options with some numerical examples. Through the analysis, we conclude the difficulty in Parisian option＇s hedging strategy and give an improved hedging strategy.