<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422023000100182</article-id>
<article-id pub-id-type="doi">10.22201/fca.24488410e.2023.4520</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Estudio funcional de la volatilidad en bolsa y los contratos de opciones: las inversiones en el mercado mexicano de derivados (MexDer)]]></article-title>
<article-title xml:lang="en"><![CDATA[Functional study of stock market volatility and option contracts; Investments in the Mexican derivatives market (MexDer)]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Gaona Montiel]]></surname>
<given-names><![CDATA[Fernando Guadalupe]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma Metropolitana  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>03</month>
<year>2023</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>03</month>
<year>2023</year>
</pub-date>
<volume>68</volume>
<numero>1</numero>
<fpage>182</fpage>
<lpage>206</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422023000100182&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422023000100182&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422023000100182&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Las inversiones especulativas en contratos de opciones muestran un movimiento errático en este periodo. Los agentes buscan cubrirse frente a los riesgos y obtener rendimientos más seguros, ante la creciente volatilidad de los mercados. Se aplicó los métodos ARCH y GARCH, herramientas para percibir el grado de volatilidad en las inversiones de opciones. Por la estimación de parámetros, la volatilidad del mercado se logró verificar su persistencia con el índice bursátil; que induce a los inversionistas a cambiar de estrategias. Una inestabilidad que hace que el proceso GARCH sea válido, toda vez que la presencia de heterocedasticidad permite ciertos ajustes. En efecto, la volatilidad y la varianza no llegan a ser constantes, a medida que cambian los factores implícitos suelen afectar el comportamiento en el período. Todo ello, permite inferir las mejores políticas de inversiones en el caso de opciones.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Speculative investments in option contracts show an erratic movement in this period. Agents seek to hedge against risks and obtain safer returns, given the growing volatility of the markets. The ARCH and GARCH methods were applied, tools to perceive the degree of volatility in option investments. Through the estimation of parameters, the volatility of the market was able to verify its persistence with the stock market index; that induces investors to change strategies. An instability that makes the GARCH process valid, since the presence of heteroskedasticity allows certain adjustments. Indeed, the volatility and variance do not become constant, as the implicit factors change, they tend to affect the behavior in the period. All this allows inferring the best investment policies in the case of options.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[ARCH]]></kwd>
<kwd lng="es"><![CDATA[GARCH]]></kwd>
<kwd lng="es"><![CDATA[backtesting]]></kwd>
<kwd lng="es"><![CDATA[activos subyacentes]]></kwd>
<kwd lng="es"><![CDATA[riesgos y grados de volatilidad]]></kwd>
<kwd lng="en"><![CDATA[ARCH]]></kwd>
<kwd lng="en"><![CDATA[GARCH]]></kwd>
<kwd lng="en"><![CDATA[backtesting]]></kwd>
<kwd lng="en"><![CDATA[underlying assets]]></kwd>
<kwd lng="en"><![CDATA[risks and degrees of volatility]]></kwd>
</kwd-group>
</article-meta>
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