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Inspect the call-replica sample
The original CSV uses Δ=0.6 and current cash −48/1.05 for a call paying 30/0 at underlying 130/80. Rows show the underlying value, terminal cash, total replica and claimed payoff in each state.
Keep current and terminal cash separate
Current cash finances the time-zero cost. Terminal cash is current cash times the period factor. Their separate columns help expose the common error of subtracting a future repayment from a current stock price.
Check both matching differences
A residual is replicated amount minus claim payoff. Both should be zero within the calculation’s precision. A zero higher-state residual alone does not establish the lower-state match.
Do not describe the log as a hedge execution system
The file records hypothetical fractional holdings and common-rate financing. It does not compute brokerage quantities, transaction costs or a multi-period rebalancing strategy.