Contingent Claims (or derivatives) are fundamental on the developing of modern nance. Seminal on this area has been the work of Merton (1973) and Black and Scholes (1973) on european options, signifying for these authors to be rewarded with the maximal prize in economics. A general theory on pricing derivatives is today available from the work of Harrison and Kreps (1979) and their Fundamental Theorem of Asset Pricing for contingent claims. It relates the existence of an equivalent martingale measure for a price of a contingent claim process to the economic concept of no-arbitrage. Although the theorem was established for a continuous-time economy on a restricted class of derivatives, the result has been extended to many contexts. For the case of a discrete-time economy with in nite horizon, it has been shown else where that the theorem fails for an arbitrary price process and the notion of no-arbitrage has to be replaced with the more stringent concept of "no free lunch with bounded risk". This result precludes most applications in time-series to be aligned with the theory. My presentation shows the state of the art of an exploratory work on a restricted solution for a class of derivatives with strictly stationary payos, which seems to render a proof for the theorem which is closer to its original form. The class of processes considered here are exible enough to be useful on a number of time-series applications.