Primades, JayantiKho, JohannesGamal, M. D. H2013-07-232013-07-232013-07-23Rangga Dwijunanda Putrahttp://repository.unri.ac.id:80/handle/123456789/4626This article discusses an equation to find an option pricing model, known as Black- Scholes equation. Black-Scholes equation is constructed with the concept of capital asset pricing model. Capital asset pricing model is used to choose the optimum asset in equilibrium market, to get small risks at the asset. European put option model is a solution of non-dividen of Black-Scholes equation by converting Black- Scholes equation into the heat equation. An example of application of Black-Scholes equation is given at the end discussion.othercapital asset priceoption priceLemma ItoBlack-Scholes equationheat equationOther