8/12/2019 BP Deepwater Pricing Spread

1/1

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

t-20

t-15

t-10

t-5t

t+5

t+10

t+15

t+20

t+25

t+30

t+35

t+40

t+45

t+50

t+55

t+60

t+65

t+70

t+75

t+80

t+85

t+90

t+95

t+100

t+105

t+110

t+115

t+120

BP spreadBP average (2009)S P 500 average (2010)

Pricing Indeterminacy: Deepwater Horizon Disaster, April 20, 2010

t = April 20, 2010

DATA: Centre for Research in Security Prices

NOTE: Data points are the daily high-low spread as a percentage of the closing price. The 2009

average is 2.16%. The S&P 500 average for 2010 was 1.36%

Jun 9