期权基本知识.ppt

期权基本知识 期权的基本概念 Option Afinancialderivativethatrepresentsacontractsoldbyoneparty optionwriter toanotherparty optionholder Thecontractoffersthebuyertheright butnottheobligation tobuy call orsell put asecurityorotherfinancialassetatanagreed uponprice thestrikeprice duringacertainperiodoftimeoronaspecificdate excercisedate 期权的基本概念 期权的买方和卖方 Holder Writer Optionfee OptionRight 期权的基本概念 看涨期权 Acalloptionisanagreementthatgivestheholdertherighttobuyanassetbyacertaindateforacertainprice 看跌期权 Aputoptionisanagreementthatgivestheholdertherighttosell 期权期限 Thedatespecifiedinthecontractistheexpirationdate maturity 执行价格 Thepricespecifiedinthecontractistheexercisepriceorstrikeprice 期权的基本概念 AEuropeanoptioncanbeexercisedonlyattheendofitslife AnAmericanoptioncanbeexercisedatanytime 期权的基本概念 Therearetwosidestoeveryoptioncontract 多头 thelongposition 空头 theshortposition soldorwrittentheoption Thecombinationoftwosidesandtwotypesofoptionsgives 多头买权 Longcall 多头卖权 Longput 空头买权 Shortcall 空头卖权 Shortput 一张微软多头买权 LongCallonMicrosoft ProfitfrombuyingaMicrosoftEuropeancalloption optionprice 5 strikeprice 100 optionlife 2months 2020 3 16 9 可编辑 一张微软空头买权 ShortCallonMicrosoft ProfitfromwritingaMicrosoftEuropeancalloption optionprice 5 strikeprice 100 一张甲骨文多头卖权 LongPutonOracle ProfitfrombuyinganOracleEuropeanputoption optionprice 7 strikeprice 70 一张甲骨文空头卖权 ShortPutonOracle ProfitfromwritinganOracleEuropeanputoption optionprice 7 strikeprice 70 OptionsStrategy Protecting Longasset LongputShortasset Longcall 期权与资产的组合 期权 资产 另一种期权 asset put call protect