Allameh Tabataba'i University Press Journal of Mathematics and Modeling in Finance 2783-0578 3 1 2023 09 01 Estimating the parameters of 3/2 stochastic volatility model with jump 137 143 16237 10.22054/jmmf.2023.75272.1101 EN Ali Safdari-Vaighani Department of mathematics, Allameh Tabataba’i University, Tehran, Iran Pooya Garshasebi Department of Mathematics, Allameh Tabataba'i University, Tehran, Iran. Journal Article 2023 05 05 The financial markets reveal stylized facts that could not be captured by Black-Scholes partial differential equations (PDEs).  In this research, we investigate 3/2 stochastic volatility to pricing options which is more compatible with the interpretation of implied volatility. Numerical study and calibrations show that the 3/2 model incorporating jumps effectively encompasses key market characteristics attributed. However, it requires more estimating parameters in comparison to the pure diffusion model. Stochastic volatility models with jumps describe the log return features of the financial market although more parameters are involved in estimations. Black-Scholes model Stochastic volatility models 3/2 model 3/2 plus jump model https://jmmf.atu.ac.ir/article_16237_294db77302e1c3137a6b83d8e75b35eb.pdf