The present price the underlying futures price on which the option is defined.
Strike
The strike of the options contract. The strike is the price at which the underlying futures contract can be purchased at when the call option is exercised.
RiskFreeRate
Continuously compounded risk free interest rate expressed in decimal format (i.e. 1 percent = 0.01).
Volatility
The volatility of the underlying futures contract given in decimal format (i.e. 1 percent = 0.01).
TimeToMaturity
The time (in years) until the option contract expires.
Remarks
The full name of this function inside Excel is Option_EuropeanEvaluation_CallOnFutures_ByTimeSpans.