Hi folks,1) why lookback option is particularly sensitive to dividends modeling ? What other products have similar behaviour ?2) Assume a payoff max[S(T)/ min(S(t)) - K, 0] where min(s(t) is the initial min. of the stock price over the in-period why this products display negative stochastic vol. premium compared with Local vol ?The reason I was provided is that : max[S(T)/ min(S(t)) - K, 0] - max[K - S(T)/ min(S(t)) - , 0] = S(T) / min(S(t)) - Kand that the min. distribution narrows down when moving from Local vol. to stoch. vol...My question is I don't understand why the min. distribution narrows down when moving from Local vol. to stoch. vol 3) Similary, the Max. distribution:- Heston model seems to under-evaluate the maximum compared to local vol. model. Why ?4) Why for barrier products, the market prices comes close to Local volatility model ones ?thx mate,Money