在全球愈來愈開放的市場下，可供投資人選擇的投資管道變多，當然所必須承擔的風險也變得愈來愈大，其中信用風險所佔的比重更是逐年增加，也使得信用衍生商品在金融市場上扮演的角色也愈顯重要。這篇論文主要就是提供信用商品之一的信用價差選擇權，一個一般化的評價公式，只要給定的變數服從AJD的模型，我們可以求得一個只需求算傅利葉積分的評價公式，這樣的結果大大地降低了使用數值評價方法所需大量的計算時間，提供一個簡單且容易使用的封閉解。文章中也試著推導一個不考慮跳動的CIR模型，求得在此特例下CSP的評價公式，並透過比較靜態分析後發現，利率對CSP的影響相較於違約強度而言並不顯著；而其它參數的影響則以執行價差的效果來得最大。

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