The article compares different models for pricing stock options in Canada. The study looked at three stochastic models and the traditional Black-Scholes model. The continuous-time stochastic model by Heston performed the best in pricing options accurately. Adding a stochastic term to the models helped reduce volatility smile effects but didn't eliminate them completely. The Black-Scholes model, while simple, struggled with volatility smile effects. The ad hoc Black and Scholes model, despite having more parameters, didn't perform as well as expected.