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舊 2009-02-25, 10:47 AM   #1
hsbc
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預設 基本戰略期權交易 Iron condor 鐵兀鷹

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我們的基本戰略涉及的淨賣家的選擇。這意味著我們的交易將產生現金信用卡到您的帳戶,當我們打開一個立場和我們的戰略有一個有限的風險和有限的增益配置文件。我們的最大增益通常是信貸,我們採取的,當我們打開一個位置。我們的戰略,充分利用時間的波動和衰退,兩件事對一般工作的淨買方的選擇。此外,戰略可以被用來利用牛市看跌市場或橫向市場。

鐵兀鷹



購買或使用“走出長期的”鐵禿鷹,貿易商將購買(長)期權合約的外層空間使用了罷工的錢付諸表決,並失去了貨幣呼籲。該交易商也將出售或收件(短)的期權合約的內在罷工,再次使用一個徹頭徹尾的溢價付諸表決,並失去了貨幣呼籲。之間的差額將合同一般將罷工一樣之間的距離要求合同罷工。由於保費收入的銷售的書面合同很可能大於保費的購買合同,長期鐵禿鷹通常是淨信貸交易。這標誌著信貸淨額的最高盈利潛力的鐵禿鷹。

潛在損失的一項長期鐵禿鷹之間的區別是攻擊要么要求蔓延或將蔓延(以較高者為準,如果它是不均衡)乘以合約大小(通常是100或1000股的基本工具),少的淨信貸收到。投資人誰買了鐵禿鷹推測的現貨價格基本文書將在短期內罷工屆滿時,選擇的位置是最有利可圖的。因此,鐵禿鷹是一種戰略選擇時考慮的交易商有一個中立的市場前景。

長的鐵兀鷹深受貿易商誰尋求經常收入從他們的交易資本。鐵禿鷹買方將嘗試構建貿易,以便短期罷工接近的立場將獲得一個理想的淨信用,但廣泛到足以使相距很可能的現貨價格將保持基本的短期罷工期間的期權合約。該交易商通常發揮鐵兀鷹每個月(如果可能的話) ,從而生成每月收入的戰略。


牛市期權套利

牛市將蔓延是通過較高的銷售驚人溢價期權和購買相同數量的降低三振型的貨幣期權在同一個基本安全的相同的到期日。在期權交易採用這種戰略的希望,價格的基本安全上升遠遠不夠,例如,書面看跌期權到期毫無價值。如熊呼籲,牛市將蔓延將創建一個淨信貸的帳戶。

熊呼叫擴頻

熊呼籲傳播是有限的利潤,有限風險的期權交易策略,可以用來當期權交易是溫和看跌的基本安全。這是進入買進看漲期權的價格有一定罷工和銷售同樣數量的認購期權行使價較低(在金錢)在同一基本相同的到期月份。這一戰略將創造一個淨信貸的帳戶

Strategy

Our basic strategy involves being net sellers of options. That means our trades will yield a cash credit to your account when we open a position and our strategies have a limited risk and limited gain profile. Our maximum gain is usually the credit we take in when we open a position. Our strategies take advantage of volatility and time decay, two things usually working against the net buyer of options. Also, the strategies can be designed to take advantage of a bullish market a bearish market or a sideways market.

Iron Condors

To buy or "go long" an Iron Condor, the trader will buy (long) options contracts for the outer strikes using an out of the money put and out-of-the-money call. The trader will also sell or write (short) the options contracts for the inner strikes, again using an out-of-the-money put and out-of-the-money call. The difference between the put contract strikes will generally be the same as the distance between the call contract strikes. Since the premium earned on the sales of the written contracts is very likely greater than the premium paid on the purchased contracts, a long Iron Condor is typically a net credit transaction. This net credit represents the maximum profit potential for an Iron Condor.

The potential loss of a long Iron Condor is the difference between the strikes on either the call spread or the put spread (whichever is greater if it is not balanced) multiplied by the contract size (typically 100 or 1000 shares of the underlying instrument), less the net credit received. A trader who buys an Iron Condor speculates that the spot price of the underlying instrument will be between the short strikes when the options expire where the position is the most profitable. Thus, the Iron Condor is an options strategy considered when the trader has a neutral outlook for the market.

Long Iron Condors are popular with traders who seek regular income from their trading capital. An Iron Condor buyer will attempt to construct the trade so that the short strikes are close enough that the position will earn a desirable net credit, but wide enough apart so that it is likely that the spot price of the underlying will remain between the short strikes for the duration of the options contract. The trader would typically play Iron Condors every month (if possible) thus generating monthly income with the strategy.


Bull Put Spread

A bull put spread is constructed by selling higher striking in-the-money put options and buying the same number of lower striking out-of-the-money put options on the same underlying security with the same expiration date. The options trader employing this strategy hopes that the price of the underlying security goes up far enough such that the written put options expire worthless. As in the case of the bear call, the bull put spread will create a net credit to the account.

Bear Call Spread

A bear call spread is a limited profit, limited risk options trading strategy that can be used when the options trader is moderately bearish on the underlying security. It is entered by buying call options of a certain strike price and selling the same number of call options of lower strike price (in the money) on the same underlying with the same expiration month. This strategy will create a net credit to the account

此篇文章於 2009-02-25 11:17 AM 被 hsbc 編輯。
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