Hello all,I'm looking at the possibiliy of implementing Prof. Ju's algorithm for pricing European basket options using taylor expansion, but there is something I can't quite figure out. I was wondering if perhaps someone here can help.In page 11 of the paper mentioned above, Prof. Ju suggests calculating the price of a Put basket option based on the Call-Put parity, given that he has already given the algorithm for pricing the Call basket option. He proceeds to define the relationship between Calls and Puts as follows:where:BP:= Put PriceBC:= Call Pricer := risk-free rateK := StrikeU1:= First moment of A(z)T := Time to maturityS := ???The question I have is the meaning of the variable 'S' in the equation. It is not defined anywhere in the paper, and, given its location in the equation, 'S' cannot be the price of the basket at t=0 or at t=T. I really have no idea what it stands for. It probably is something obvious, but as of now, it completely escapes me. This is killing me..Thanks for any help/insight. -LB