  In this paper, we investigate the non-linear Black--Scholes equation:
$$u_t+ax^2u_{xx}+bx^3u_{xx}^2+c(xu_x-u)=0,\quad a,b>0,\ c\geq0.$$ and show that
the one can be reduced to the equation $$u_t+(u_{xx}+u_x)^2=0$$ by an
appropriate point transformation of variables. For the resulting equation, we
study the group-theoretic properties, namely, we find the maximal algebra of
invariance of its in Lie sense, carry out the symmetry reduction and seek for a
number of exact group-invariant solutions of the equation. Using the results
obtained, we get a number of exact solutions of the Black--Scholes equation
under study and apply the ones to resolving several boundary value problems
with appropriate from the economic point of view terminal and boundary
conditions.
