Determine implied volatility using BjerksundStensland 2002 option pricing model
Volatility = impvbybjs(RateSpec,
StockSpec, Settle,
Maturity, OptSpec, Strike, OptPrice,
'Name1', Value1...)
 The annualized continuously compounded rate term structure.
For information on the interest rate specification, see  
 Stock specification. See  

 

 

 

 

 
 
 (Optional)  
 (Optional) Positive scalar implied volatility termination
tolerance. Default is 
Volatility = impvbybjs(RateSpec,
StockSpec, Settle,
computes implied volatility using the
BjerksundStensland 2002 option pricing model.
Maturity, OptSpec, Strike, OptPrice,
'Name1', Value1...)
Volatility
is a NINST
by1
vector
of expected implied volatility values. If no solution is found, a NaN
is
returned.
Note:

Bjerksund, P. and G. Stensland. "ClosedForm Approximation of American Options." Scandinavian Journal of Management. Vol. 9, 1993, Suppl., pp. S88–S99.
Bjerksund, P. and G. Stensland. "Closed Form Valuation of American Options." Discussion paper 2002 (http://www.scribd.com/doc/215619796/ClosedformValuationofAmericanOptionsbyBjerksundandStensland#scribd)