  We consider a discrete-time incomplete multi-asset market model with
continuous price jumps. For a wide class of contingent claims, including
European basket call options, we compute the bounds of the interval containing
the no-arbitrage prices. We prove that the lower bound coincides, in fact, with
Jensen's bound. The upper bound can be computed by restricting to a binomial
model for which an explicit expression for the bound is known by an earlier
work of the authors. We describe explicitly a maximal hedging strategy which is
the best possible in the sense that its value is equal to the upper bound of
the price interval of the claim. Our results show that for any $c$ in the
interval of the non-arbitrage contingent claim price at time $0$, one can
change the boundaries of the price jumps to obtain a model in which $c$ is the
upper bound at time $0$ of this interval. The lower bound of this interval
remains unaffected.
