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Define the process \\(M(t) = \\max \\{M, \\max[S(u)\\mid 0 \\leq u \\leq t]\\}\\), \\(t \\geq 0\\), where \\(M \\geq S(0)\\). \\(M(t)\\) is called the historical maximum of the stock prices up to time \\(t\\). The `Russian option' is a perpetual American option such that, if its owner exercises it at time \\(t \\geq 0\\), he receives the amount \\(M(t)\\) at that time. The price at time 0 of the option is the supremum, over all stopping times \\(T\\), of \\(E[\\text{exp} (-rT) M(T)]\\). The authors derive two pricing formulas by means of the optional sampling theorem. 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