Option & Future Basics

 

RXABM ABM GD_MLX RX ODRFBR ( CEACuturls deh Aptfaes) EMNRXABMXDIM Dbdhlgy

 

Xjlrl drl Xrdhfek Festruglets fe Rtabm Gdrmlt 4. Lqufty/Rtabm (\ehlriyfek dsslt) deh ?. Xjl hlrfvdtfvl ac tjl uehlriyfek dsslt fs bdiilh0 •

Cuturls

•

Aptfaes

H l r f v d t f v l s g l d e t j d t t j l y h a e a t j d v l d ey ey v d i u l a c t j l f r a w e o u t t j l f r v d i u l f s h l r f v l h c r a g d e uehlriyfek dsslt.

Car lxdgpil, aptfaes deh cuturls ae Matdm Gdjfehrd odem wfii ol ifemlh ta tjl stabm prfbl ac Matdm Gdjfehrd Odem deh wfii hlrfvl tjlfr vdiul crag tjl uehlriyfek dsslt tjdt fs tjl stabm ac Matdm Gdjfehrd Odem.

\ehlriyfek sygoai hleatls tjl uehlriyfek slburfty fe tjl Bdpftdi Gdrmlt (lquftfls) slkglet ac tjl Lxbjdekl

 

[jdt fs Cuturl ac d Rtabm1  D C u t u r l f s d r f k j t d e h d e aoi f kdt f ae t a ouy ar s li i de uehlri y f ek s t ab m ( ar at jlr

dsslts) dt d prlhltlrgfelh  prr f b l d e h h l i f v l r d o i l d t d  p  p r l h l t l r g f e l h t f g l ( L x p f r y hdt l)

 

Lxpfry ar trdhfek bybil0 Lxpfry hdtl fhletfcfls tjl hdtl ac lxpfry ac tjl baetrdbt

Fehlx Cuturls deh Rtabm Cuturls oatj jdvl Gaetjiy Lxpfry Cuturls baetrdbts lxpfrl ae tjl idst Xjurshdy ac tjl lxpfry gaetj. Fc tjl idst Xjurshdy fs d trdhfek jaifhdy, tjl baetrdbts lxpfrl ae tjl prlvfaus trdhfek hdy.

 

Xypls ac Lxpfr L xpfry0 y0 Ruppaslh wl drl ae 44 tj Ac @d eud eud ry ?>?4 d eh wl jd jd vl ta ouy d baetrdbt ac d stabm ar Fehlx wl bde bjaasl ael ac tjl caiiawfek lxpfrfls0 4. Eldr 0 Burrlet gaetjs idst Xjurshdy Xjurshdy.( .( ?: tj @de ?>?4 ?. Elxt 0 Elxt Gaetjs Idst Xjurshdy( ?< tj Clo ?>?4) 2. Cdr0

Elxt ta Elxt Gaetj idst Xjurshdy(?< tj Gdrbj ?>?4)

Ft fs dhvfslh ta bjaasl eldr gaetj Lxpfry wjfbj jds jfkjlst ifqufhfty.( ifqufhfty .( ft gldes ft wfii jdvl garl ouylrs ar sliilrs)

 

[jdt jdpples ae tjl hdtl ac Lxpfry1 ➯

I l t ‖s s d y f c w l ou y d i a t a c < > > R j d r l s N 4 > > > p l r s j d r l a c d p d r t f b u i d r   s t ab m . A e tjl i d s t X ju r s h dy a c lvl r y gae tj tj l r l b de ol a e i y 8 passfofiftfls.

➯

R bl b l ed e d rf rf a 4 0 F t s t d y s d t 4 > > > a e t j l h d t l a c l x p f r y . R a y a u r b a e t r d b t l x p f r l s . Va u j d v l t w a a p t f a e s . Va u j d v l t a p d y t j l c u i i g a e l y c a r   < >> > > Ea E a s* s * 4> 4 > >> > > _ up u p ll l l s ( dc d c tl t l r d h` h ` us u s tf t f ek e k t jl j l g dr d r kf k f e) e ) t a t dm d m l t jl j l h li l i fv f v lr l r y. y.

➯

R bl b l ed e d rf r f a ? 0 X j l u eh e h l r i y f e k p r f b l b ia ia s ls l s j fk fk j l r i lt l t s s dy dy

d t _ s 4 ? >> >> / -

➯

F e t j f s b d s l y a u i l t t j l b a e t r d b t l x p f r l . Va u w f i i k l t t j l o l e l c f t a c _ s ? >> > > // - p lr l r s jd j d rl r l * < >> >> 7_ 7 _ s 4> 4 > >, > , >> >> >/ > / - t a o l b rl rl hf h f tl t l h t a y a ur u r i lh l h kl kl r.

 

[jdt jdpples ae tjl hdtl ac Lxpfry1 ➯

Rbledrfa 20 Xjl sjdrl prfbl cdiis ta _s :>> ae tjl hdtl a c l x p f r y. R a V a u j d v l t a s l t t i l t j l b a e t d b t d e h o l d r t j l iass ar tdml tjl hlifvlry ds plr tjl arfkfedi prfbl ac _s

➯

4>>>/- dt tjl hdtl ac ouyfek ac tjl baetrdbt . R bl bl ed e d rf r f a 8 0 _ a i i A v l r, f e t j f s b d s l s l i i t j f s b a e t d b t d t t j l prlslet prfbl ae ar olcarl tjl hdtl ac lxpfry deh ouy tjl elxt ar cdr gaetj baetrdbt .

 

Eugolr ac Cuturl Baetrdbt dvdfidoil fe Edtfaedi Rtabm Lxbjdekl Cuturls baetrdbts drl dvdfidoil ae 48> slburftfls stfpuidtlh oy tjl Rlburftfls & Lxbjdekl Oadrh ac Fehfd (RLOF) . Xjlsl slburftfls drl trdhlh fe tjl Bdpftdi Gdrmlt slkglet ac tjl Lxbjdekl.

 

Hfcclrlet typls Cuturls Baetrdbts0 Fehlx Cuturls0 4. Efcty Odem ?. Efcty 2.Efcty Cfedebfdi Rlrvfbls Rtabm Cuturls

 

Iat Rfzl

Rtabm yau bde ouy fe guitfpil ac 4.

Ael iat baesfsts ac x eugolr ac stabm prl hlbfhlh oy Lxbjdekl deh ft gdy bjdekl crag tfgl ta tfgl

Cuturl deh aptfaes oatj ellhs ta ol oaukjt fe iats

Iat sfzl hlplehs ae tjl prfbl ac tjl stabm.

 

Baetrdbt Rfzl ar Iat Rfzl Xjl

v di ul

ac

tjl

cuturls

baetrdbts

ae

f eh e h fv fv fh f h ud u d i s lb l b ur u r ft f t fl f l s g dy dy e at a t o l i ls l s s t jd jd e _s. < idmjs dt tjl tfgl ac fetrahubtfae c ar tjl cfr st tfgl dt dey lxbjdekl. Xjl p lr l r gf gf tt t t lh lh i at a t s fz f z l c ar a r c ut u t ur ur ls l s b ae a e tr tr db db ts ts & a pt p t f ae ae s b ae a e t r db db ts ts s jd j d i i o l t j l s dg dg l c ar ar d k f v l e u e h l r i y f e k a r s ub ub j i a t s f z l d s g d y o l s tf t f p ui ui dt dt l h o y t j l L xb xb jd j d e k l c ra r a g t fg fg l t a t fg f g l. l.

 

Lxdgpils ac Iat Rfzl Fe Fehlx Cuturls \EHL_IVFEK

DRRLX

RVGOAI

ELD_ LZ^F_V ?4/>4/?>?4

ELZX LZ^F_V CD_ LZ^F_V ?4/>?/?>?4 ?4/>2/?>?4

EFCXV ODEM

ODEMEFCXV

?<

?<

?<

EFCXV

EFCXV

;<

;<

;<

8>

8>

8>

EFCXV CFEDEBFDI RL_SFBLR CFEEFCXV

 

Jaw ta Fetlrprlt Cuturls Rygoai1

 

Xjfs fs jaw d Cuturl ac DBB Blglets Rtabm wfii dppldr ae yaur wdtbj ifst1 Xjl Cuturl ac DBB Blglets wfii dppldr ds

 DBB

\ehlriyfek Dsslt Fe tjfs tjfs bds bdsl l DBB

@DE C\X 

C\X\_L

Gaetj ac Lxpfry

 

Hlrfvdtfvls ae Fehfvfhudi Rlburftfls/Rtabm deh tjlfr iat sfzl

\EHL_IVFEK

DRRLX

RVGOAI

ELZX ELD_ LZ^F_V LZ^F_V ?4/>?/?> CD_ LZ^F_V ?4/>4/?>?4 ?4/>2/?>?4 deh Iat Rfzl ?4

DD_XF FEH\RX_FLR IXH DHDEF LEXL_^_FRLR IFGFXLH D^AIIA JAR^FXDIR LEXL_. I DHDEF ^A_X & RLP IXH DBB IFGFXLH DGD_D _D@D ODXXL_FLR IXH. D^AIIA XV_LR IXH DRJAM ILVIDEH IXH DGO\@D BLGLEXR IXH D\_AOFEHA ^JD_GD IXH

DD_XFFEH DHDEFLEX D^AIIAJAR^ DHDEF^A_XR DBB DGD_D@DODX D^AIIAXV_L DRJAMILV DGO\@DBLG D\_A^JD_GD

8?< ?>>> > ?> > 4>>> >> 6>>> 2>>> 3

8?< ?>>> > ?> > 4>>> >> 6>>> 2>>> 3

8?< ?>>> > ?> > 4>>> >> 6>>> 2>>> 3

OD@D@ D\XA IFGFXLH OD@D@ CFEDEBL IFGFXLH DRFDE ^DFEXR IFGFXLH ODEM AC OD_AHD ODXD FEHFD IXH OL_KL_ ^DFEXR (F) IXH OJD_XF DF_XLI IFGFXLH OARBJ IFGFXLH OJD_DX ^LX_AIL\G BA_^ IX

OD@D@-D\XA OD@CFEDEBL DRFDE^DFEX ODEMOD_AHD ODXDFEHFD OL_KL^DFEX OJD_XFD_XI OARBJIXH O^BI

? ? 2>> 44;>> > 4:>

? ? 2>> 44;>> > 4:>

? ? 2>> 44;>> > 4:>

O_FXDEEFD FEH\RX_FLR IXH

O_FXDEEFD

?>>

?>>

?>>

 

Hlrfvdtfvls Hlrfvd tfvls ae Fehfvfhudi Rlburftfls( Eugolrs drl Iat Rfzl)

\EHL_IVFEK DRRLX BDHFID JLDIXJBD_L IFGFXLH BJAIDGDEHDIDG FE & CFE BA BF^ID IXH BADI FEHFD IXH BAEXDFEL_ BA_^ AC FEH IXH B\GGFER FEHFD IXH HDO\_ FEHFD IXH HFSF'R IDOA_DXA_FLR IXH OJD_DX LILBX_AEFBR IXH HIC IFGFXLH H_. _LHHV'R IDOA_DXA_FLR LFBJL_ GAXA_R IXH

RVGOAI BDHFIDJB BJAIDCFE BF^ID BADIFEHFD BAEBA_ B\GGFERFEH HDO\_ HFSFRIDO OLI H HIIC H__LHHV LFBJL_GAX

LRBA_XR FEHFD IXH LZFHL FEH\RX_FLR IXH CLHL_DI ODEM IXH KDFI (FEHFD) IXH KAH_L@ BAER\GL_ ^_AH\BXR KAH_L@ ^_A^L_XFLR IXH OJLI JHCB IXH BDED_D ODEM JL_A GAXABA_^ IFGFXLH JFEH\RXDE ^LX_AIL\G BA_^ JFEH\RXDE \EFILSL_ IXH.

LRBA_XR L LZ ZFHLFEH CLHL_DIOEM KDFI KAH_L@B^ KAH_L@^_A^ OJLI JHCB BDEOM JL_AGAXABA JFEH^LX_A JFEH\EFIS_

ELD_ LZ^F_V ?4/>4/?>?4

ELZX LZ^F_V ?4/>?/?>?4

CD_ LZ^F_V ?4/>2/?>?4

??>> ?> 42>> 8?>> 4> 4? ?>> ;3>> 22>> 4?< 2

??>> ?> 42>> 8?>> 4> 4? ?>> ;3>> 22>> 4?< 2

??>> ?> 42>> 8?>> 4> 4? ?>> ;3>> 22>> 4?< 2

> 4>>>> 34>> 4>>> 3 ?4>>> 2>> > 2>> ?;>> 2>>

> 4>>>> 34>> 4>>> 3 ?4>>> 2>> > 2>> ?;>> 2>>

> 4>>>> 34>> 4>>> 3 ?4>>> 2>> > 2>> ?;>> 2>>

 

Hlrfvdtfvls Hlrfvd tfvls ae Fehfvfhudi Rlburftfls \EHL_IVFEK DRRLX FBFBF ODEM IXH. FBFBF ^_\ IFCL FER BA IXH SAHDCAEL FHLD IFGFXLH FEH_D^_DRXJD KDR IXH FEXL_KIAOL DSFDXFAE IXH FECARVR IFGFXLH FEHFDE AFI BA_^ IXH @R[ RXLLI IFGFXLH @\OFIDEX CAAH[A_MR IXH MAXDM GDJFEH_D ODEM IXH IFB JA\RFEK CFEDEBL IXH ID_RLE & XA\O_A IXH.

RVGOAI FBFBFODEM FBFBF^_\IF FHLD FKI FEHFKA FECV FAB @R[RXLLI @\OICAAH MAXDMODEM IFBJRKCFE IX

I\^FE IFGFXLH GD_FBA IFGFXLH GD_\XF R\P\MF FEHFD IXH. GAXJL_RAE R\GF RVRXLGR IX G_C IXH FECA LHKL (F) IXH ELRXIL FEHFD IFGFXLH EGHB IXH. EX^B IXH AFI DEH EDX\_DI KDR BA_^. ^F_DGDI LEXL_^_FRLR IXH ^A[L_ CFE BA_^ IXH.

I\^FE GD_FBA GD_\XF GAXJL_R\GF G_C ED\M_F ELRXILFEH EGHB EX^B AEKB ^LI ^CB

ELD_ LZ^F_V ?4/>4/?>?4

ELZX LZ^F_V ?4/>?/?>?4

CD_ LZ^F_V ?4/>2/?>?4

42;< 4> ;>>>> 42;< > 3>> 3> ?;>> ? 8>> ?>>> ;>>>> 42;< > 3>> 3> ?;>> ? 8>> ?>>> ;>>>> 42;< > 3>> 3> ?;>> ? 8>> ?>>> >> 4>> ;>>> 4> ? 3;>> > ;;>> >

: ?>>> 4>> ;>>> 4> ? 3;>> > ;;>> >

: ?>>> 4>> ;>>> 4> ? 3;>> > ;;>> >

 

Hlrfvdtfvls Hlrfvd tfvls ae Fehfvfhudi Rlburftfls \EHL_IVFEK DRRLX ^FHFIFXL FEH\RX_FLR IXH ^A[L_ K_FH BA_^. IXH. XJL _DGBA BLGLEXR IFGFXLH _LB IFGFXLH RFLGLER IXH R\E ^JD_GDBL\XFBDI FEH I XDXD BJLGFBDIR IXH XDXD GAXA_R IFGFXLH XDXD RXLLI IFGFXLH XLBJ GDJFEH_D IFGFXLH XFXDE BAG^DEV IFGFXLH XA__LEX ^JD_GDBL\XFBDIR I

RVGOAI ^FHFIFXFEH ^A[L_K_FH _DGBABLG _LBIXH RFLGLER R\E^JD_GD XDXDBJLG XDXDGAXA_R XDXDRXLLI XLBJG XFXDE XA_EX^JD_G

XA__LEX ^A[L_ IXH XSR GAXA_ BAG^DEV IXH JHCB DGB IFGFXLH \EFXLH O_L[L_FLR IXH \IX_DXLBJ BLGLEX IFGFXLH SAIXDR IXH [F^_A IXH PLL LEXL_XDFEGLEX LEX IXH FXB IXH DZFR ODEM IFGFXLH @FEHDI RXLLI & ^A[L_ IXH OD@D@ CFERL_S IXH.

XA_EX^A[L_ XSRGAXA_ JHCBDGB \OI \IX_DBLGBA SAIXDR [F^_A PLLI FXB DZFRODEM @FEHDIRXLI OD@D@CFERS

ELD_ LZ^F_V ?4/>4/?>?4

ELZX LZ^F_V ?4/>?/?>?4

CD_ LZ^F_V ?4/>2/?>?4

> 8>>> : 3>>> > ?>>> > 4;>> 4?>> ; ?

> 8>>> : 3>>> > ?>>> > 4;>> 4?>> ; ?

> 8>>> : 3>>> > ?>>> > 4;>> 4?>> ; ?

2>>> 48>> ?>> ;>> ?>> 4>>> 2?>> 2>>> 2?>> 4?>> >> 4?<

2>>> 48>> ?>> ;>> ?>> 4>>> 2?>> 2>>> 2?>> 4?>> >> 4?<

2>>> 48>> ?>> ;>> ?>> 4>>> 2?>> 2>>> 2?>> 4?>> >> 4?<

 

Hlrfvdtfvls Hlrfvd tfvls ae Fehfvfhudi Rlburftfls

\EHL_IVFEK DRRLX ODEHJDE ODEM IFGFXLH I&X CFEDEBL JAIHFEKR IXH H_. IDI ^DXJ IDOR IXH. BACA_KL IFGFXLH GDJFEH_D & GDJFEH_D IXH G&G CFE. RL_SFBLR IXH GDED^^\_DG CFEDEBL IXH GDZ CFEDEBFDI RL_S IXH EDXFAEDI DI\GFEF\G BA IXH

RVGOAI ODEHJDEOEM I&XCJ IDI^DXJIDO BACA_KL G&G G&GCFE GDED^^\_DG GCRI EDXFAEDI\G

JDSLIIR FEHFD IFGFXLH ^DKL FEH\RX_FLR IXH JBI XLBJEAIAKFLR IXH JHCB ODEM IXH FBFBF IAGOD_H KFB IFGFXLH FHCB CF_RX ODEM IFGFXLH FEH\RFEH ODEM IFGFXLH FEH\R XA[L_R IFGFXLH ^S_ IFGFXLH ^LX_AELX IEK IFGFXLH

JDSLIIR ^DKLFEH JBIXLBJ JHCBODEM FBFBFKF FHCBCF_RXO FEH\RFEHOM FEH\RXA[L_ ^S_ ^LX_AELX

ELD_ LZ^F_V ?4/>4/?>?4

ELZX LZ^F_V ?4/>?/?>?4

CD_ LZ^F_V ?4/>2/?>?4

4:>> :2>> ? 2;< 48>> 8>>> 3>>> 42>> 4;>>>

4:>> :2>> ? 2;< 48>> 8>>> 3>>> 42>> 4;>>>

4:>> :2>> ? 2;< 48>> 8>>> 3>>> 42>> 4;>>>

4>>> 2> ;>> >> 6>> ?:>> 8>; 2>>>

4>>> 2> ;>> >> 6>> ?:>> 8>; 2>>>

4>>> 2> ;>> >> 6>> ?:>> 8>; 2>>>

 

Hlrfvdtfvls Hlrfvd tfvls ae Fehfvfhudi Rlburftfls \EHL_IVFEK DRRLX RXLLI D\XJA_FXV AC FEHFD RXDXL ODEM AC FEHFD KG_ FEC_DRX_\BX\_L IXH. R_C IXH ^\E@DO EDXFAEDI ODEM RJ_F_DG X_DER^A_X CFE BA. _OI ODEM IFGFXLH XDXD BAER\GL_ ^_AH\BX IXH XDXD ^A[L_ BA IXH XDXD BAER\IXDEBV RL_S IX _LIFDEBL FEH\RX_FLR IXH ODIM_FRJED FEH. IXH OJD_DX CA_KL IXH GDJDEDKD_ KDR IXH. OFABAE IFGFXLH.

RVGOAI RDFI ROFE KG_FEC_D R_C ^EO R_X_DERCFE _OIODEM XD XDXDBAER\G XDXD^A[L_ XBR _LIFDEBL ODIM_FRFEH OJD_DXCA_K GKI OFABAE

BAIKDXL ^DIGAIFSL IXH. KILEGD_M ^JD_GDBL\XFBDIR K_DRFG FEH\RX_FLR IXH JHCB IFCL FER BA IXH JFEHDIBA FEH\RX_FLR IXH \EFXLH R^F_FXR IFGFXLH G\XJAAX CFEDEBL IFGFXLH ROF IFCL FER\_DEBL BA IXH RJ_LL BLGLEX IFGFXLH \^I IFGFXLH GFEHX_LL IFGFXLH FEHFDO\IIR JRK CFE IXH SLHDEXD IFGFXLH R\E XS ELX[A_M IFGFXLH

BAI^DI KILEGD_M K_DRFG JHCBIFCL JFEHDIBA GBHA[LII-E G\XJAAXCFE ROFIFCL RJ_LLBLG \^I GFEHX_LL FO\IJRKCFE SLHI R\EXS

ELD_ LZ^F_V ?4/>4/?>?4

ELZX LZ^F_V ?4/>?/?>?4

CD_ LZ^F_V ?4/>2/?>?4

46>>> 2>>> ??> 4?< 43>>> :>> ?6>> 42 42> 2>> ? 8>> 4> 3>> ?2>>

46>>> 2>>> ??> 4?< 43>>> :>> ?6>> 42 42> 2>> ? 8>> 4> 3>> ?2>>

46>>> 2>>> ??> 4?< 43>>> :>> ?6>> 42 42> 2>> ? 8>> 4> 3>> ?2>>

;>> 44 6 44>> 82>> 4? ; ; 42>> :>> 24>> 3?>> 4>

;>> 44 6 44>> 82>> 4? ; ; 42>> :>> 24>> 3?>> 4>

;>> 44 6 44>> 82>> 4? ; ; 42>> :>> 24>> 3?>> 4>

 

^rfbl ac Cuturl Baetrdbts C u t u rl s w f i i t rd h l d t d C u t u rl s p r f b l w j f b j f s e a r g d i i y d t d p rl g f u g t a t j l sp a t p rf bl h ul ta tj l tfg l vd iul . R ll tjl ca iia wfe k Lxdg p il 0 X jl c u tu rl prfbl bde ol jfkjl r ar iawl r tjde tjl spat prfbl

 

[jdt fs Rpat ^rfbl1 Xjl prlslet prfbl Ntfgl ac dey fehlx ar stabm (\ehlriyfek dsslt) dt tjl tfgl ac baetrdbt fs bdiilh tjl Rpat ^rfbl.

 

^rlpdrfek deh uehlrstdehfek yaur wdtbj ifst DBB fs edgl ac tjl uehlriyfek dsslt deh fts trdhfek dt 4;34.?< plr sjdrl

➯

DBB @de C\X fs fts Cuturl wftj @deudry lxpfry N _s 4;34 plr sjdrl

➯

DBB CLO C\X fs tjl Cuturl wftj Clo Lxpfry L xpfry N_s 4;3?>

Rpat ^rfbl fs 48,28;.?< Vau bde Rll tjl prlgfug ac tjl Fehlx Aptf Ap tfae ae car 48 tj @d @de e Lxpf Lxpfry ry car car tjl tjl sdgl sdgl strfml strfm l prfbl ac 482 482 fs iawlr iawlr (_s 4>:/4>:/st

plr sjdrl)tjde tjl ^rlgfug ac lxpfry (_s4:2./Rjdrl) (_s4:2./Rjd rl)?4 @de ^r ^rlg lgffug ac lxp lxpfry dwdy crag rag tjl tjl prls prlsle lett hdtl hd tl fs jfkj jfkjlr lr bagp bagpdr drlh lh ta fggl fgglhf hfdt dtl l elxt lxpfry.

 

Hfcclrlet typls Aptfaes Baetrdbts0 Fehlx Aptfaes0 4. Efcty Odem ?. Efcty 2.Efcty Cfedebfdi Rlrvfbls Rtabm Aptfaes

 

[jdt yau pdy car fs @ust d ^rlgfug F e apt fae yau hae‖t jdvl t a awe d sjdrl dt t jl leh ac t jl l x pf pf r y o u t y a u klt t jl olelc ft s ac t jl prfbl febrldsl ar hlbrldsl ac t jl apt fae prlgfug. I fml d bdr F esurdebl prlgfug olbagls zlra dc t lr t jl baet rdbt plrfah t jl Apt fae prlgfug disa olbagls zlra.

 

[jdt hrfvls tjl Aptfae ^rfbl1 Aptfae fs hrfvle oy tjl cuturl prfbl ac tjl uehlriyfek Rlburfty( Rtabm) deh eat tjdt ac tjl slburfty prfbl. Xjfs fs de fgpartdet p rf r f bl b l ta t a ea e a tl t l . F t g ld l d es e s t jd j d t y au a u wf w f ii i i td t d ml m l ya y a ur u r s t rf rf ml m l pr p r fb f b l o ds ds l h a e cu cu t ur ur l pr pr fb f b l de de h t jl j l a pt p t fa f a e b jd j d r t f s hr h r fv f v le l e oy o y t jl j l c ut ut ur ur l bjdrt. takltjlr. Xjfs fs wjy wjy ft fs d is a bd iilh iilh Cuturl deh Aptfae takltjlr.

A ei e i y a e t jl j l h dt d t l a c l xp x p fr f r y c ra r a g 4 ? e aa a a e a ew e w dr dr hs h s t jl j l p rf r f bl bl a c cuturl fs hrfvle oy tjl spat prfbl ac tjl Rlburfty Rlburfty..

 

Jaw yau bde trdhl de aptfae1 •

Va u b d e l f t j l r o u y b d i i d e h ^ u t 1 G d r k f e r l q u f r l h f s i l s s f e t j f s bdsl.

•

Va u b d e d i s a R l i i b d i i d e h p u t d e h f e t j f s b d s l y a u w f i i j d v l t a pdy d gdrkfe digas t ifml ouyfek ar sl iifek d cuturl. Rll tjl lxdgpil

fe

rlqufrlglet

caiiawfek

sifhls

deh

aos lr vl

tjl

gdrkfe

 

Jaw yau bde trdhl de aptfae1 [jle yau ouy de aptfae car ael iat ac DXG yau pdy d prlgfug ac _s

[jle yau slii de aptfae car ael iat ac sdgl strfml prfbl yau pdy d prlgfug ac

:432.;< deh tjdt fs tjl gdrkfe

_s 4