This paper tries to incorpora te the option pricing theory to the traditional analysis of leasing. After a brief review of the basic concepts of options, it argues the traditional methods of investment analysis, suggesting the use of real options as a tool to aprimora te the valuation of leasing contracts. The operationalleasing contract ls evaluated with the framework provided by option theory, as well as some options (rights) that are in the financiaI leasing contracts.
real options; leasing contracts; investment analysis; operational leasing; NPV