https://www.gphjournal.org/index.php/m <p style="font-family: 'Segoe UI', sans-serif; font-size: 16px; color: #333;"><strong>GPH-International Journal of Mathematics (e-ISSN&nbsp;<a href="https://portal.issn.org/resource/ISSN/3050-9629" target="_blank" rel="noopener">3050-9645</a>)</strong> is a peer-reviewed, open-access journal dedicated to advancing research in mathematics. The journal publishes original research articles, comprehensive reviews, and survey papers covering both pure and applied mathematics, including topics such as algebra, analysis, geometry, number theory, and mathematical modeling. It provides a global platform for mathematicians and researchers to share innovative ideas, foster interdisciplinary collaboration, and contribute to the advancement of mathematical knowledge.</p> Global Publication House en-US GPH-International Journal of Mathematics 3050-9645 <p>The authors and co-authors warrant that the article is their original work, does not infringe any copyright, and has not been published elsewhere. By submitting the article to <a class="is_text" title="GPH - International Journal of Mathematics" href="https://www.gphjournal.org/index.php/m/index">GPH - International Journal of Mathematics</a>, the authors agree that the journal has the right to retract or remove the article in case of proven ethical misconduct.</p> https://www.gphjournal.org/index.php/m/article/view/2185 <p>The success of any investment largely depends on the valuation of options, which plays a pivotal role in shaping the financial strategies of investors. The Black-Scholes (B-S) equation remains a foundational mathematical tool for estimating stock option prices. This study examines the Black-Scholes model for European call options alongside Snedecor’s F-distribution to evaluate option pricing on the share prices of Fidelity and Access Banks. Closed-form solutions for call option prices were obtained for two distinct expiration dates. The variation in call option prices between these dates provides valuable insights into the market's expectations regarding future movements of the underlying securities.</p> <p>Additionally, hypothesis testing was conducted and accepted for both banks, revealing statistically significant differences in the variances of call option prices across expiration dates. The analysis yielded variances of 0.8954 for Fidelity Bank and 0.9746 for Access Bank, indicating that higher variance implies greater potential for price fluctuation over time. Hence, Fidelity Bank, with the lower variance, offers better precision for informed investment decisions.</p> <p>Furthermore, a theoretical proposition was formulated and validated to analyze prospective price changes and support strategic decision-making. The study also considered the means and standard deviations of projected future prices, offering practical implications for understanding investment returns within capital markets.</p> Azor, Promise Andaowei ##submission.copyrightStatement## https://creativecommons.org/licenses/by-nc-nd/4.0 2025-12-06 2025-12-06 8 11 01 20 10.5281/zenodo.17838431