Iinkcazo zefownuni kwaye ufake iindlela
Ukuqhawulwa kweNkqubo yoKhetho
Ifowuni inkontileka yenketho eyenza umthengi unelungelo lokuthenga i-asethi esezantsi kwintengo yesiteyunthi naliphi na ixesha ukuya kutsho ekupheleni komhla (i-US style options).
Intengo yesiteyibhile yintengo apho umthengi ongakhethayo angathenga i-asethi ephantsi. Umzekelo, inketho yefowuni yesantya ngexabiso lentengo ye-10 ithetha ukuba umthengi ongakhethayo angasebenzisa ukhetho ukuthenga eso sithuthi kwi-$ 10 ngaphambi kokuba ukhetho luphelelwe yisikhathi.
Izinketho zokuphelelwa yisikhathi ziyahluka kwaye zingaba nexesha elifutshane okanye elide elide. Kufuneka kuphela ukuba umthengi wefowuni asebenzise inketho yakhe, kwaye unyanzele umthengisi wefowuni ukuba abanike isitishi kwintengo yesiteyithi ukuba intlawulo ekhoyo yangoku iphezulu ngaphezu kwexabiso lentengo. Ngokomzekelo, ukuba isitokhwe sithengisa i-$ 9 kwimarike yesitokisi, akukufanelekanga kumthengi wokukhetha ukukhetha ukusebenzisa i-stock kwi-$ 10 kuba bayayithenga ngexabiso elincinci (i-$ 9) kwimarike yemasheya .
Umthengi wefowuni unelungelo lokuthenga isitya kwixabiso lesiteyibhrari kwisilinganisi esithile semali. Ukuba ixabiso lentlawulo lihamba ngaphezu kwentengo yesiteleka, ukhetho luya kuba lufanelekile lwemali (linenani lentengo). Umthengisi angathengisa inketho ngenzuzo (yiloo nto ininzi inokuthenga abathengi), okanye usebenzise indlela ekupheleni kwayo (fumana izabelo).
Kule lungelo, umthengi weefowuni uhlawula "i- premium ".
Umthengisi womnxeba / umbhali wenketho ufumana i-premium. Ukubhala iinketho zefowuni yindlela yokuvelisa imali. Imali engenayo ekubhaliseni ukhetho lokufowunelwa lugqityiweyo kwi-premium efunyenweyo nangona, ngelixa umnini-fowuni unakho inzuzo engenamkhawulo.
Inketho enye yeefowuni ibonisa izabelo ezili-100 okanye isixa esithile se-asethi esezantsi. Amanani okufowuna acatshulwa ngesabelo ngasinye. Ngoko ke, ukubala ukuba kuthengwa kangakanani ukukhethwa kwefowuni kuya kuthatha ixabiso, uthathe ixabiso lentetho kwaye ukwandise ngo-100 (kwindlela yokugcina impahla).
Izinketho zefowuni zingaba kwiMali, okanye ngaphandle kweMali . Kwimali kuthetha ukuba intengo yexabiso le-asethi ingaphantsi kwexabiso lesiteyibhrari. Ngaphandle kweMali kuthetha ukuba intengo yexabiso le-asethi ingaphantsi kwexabiso lesiteyibheno. Xa uthengela ukhetho lwefowuni ungayithenga Ngaphakathi, Nge-, okanye ngaphandle kwemali. Kwimali kuthetha ukuba intengo yesiteleka kunye nexabiso eliphantsi lexabiso le-asethi lifana. I-premium yakho iya kuba yinto enkulu kwiNkokhelo yeMali (kuba sele inenani lentengo), ngelixa i-premium yakho iya kuba sezantsi kwiNkxaso yeeMali.
Ukuqhawula i-Option Put
I-Put yiyona khontrakthi yokukhetha enika umthengi ilungelo lokuthengisa i-asethi esezantsi kwixabiso lesiteyibhrari nanini na ukufikelela kumhla wokuphela (iindlela ze-US zokukhetha).
Intengo yesiteyibhile yintengo apho umthengi okhethwayo angathengisa i-asethi ephantsi. Ngokomzekelo, ukukhethwa kwefowuni kunye nexabiso lentengo ye-10 kuthetha ukuba umthengi wokukhetha ukhetho angasebenzisa ukhetho lokuthengisa eso sithuthi kwi-$ 10 ngaphambi kokuba ukhetho luphelelwe yisikhathi.
Kufuneka kuphela ukuba umthengi athengise okokukhethayo, kwaye unyanzele umthengisi obekayo ukuba abanike isitishi kwintengo yesiteyithi ukuba ixabiso langoku lezantsi liphantsi kwexabiso lentengo. Ngokomzekelo, ukuba isitokhwe sithengisa i-$ 11 kwimarike yesitokisi, akukufanelekanga kumthengi wokukhetha ukhetho lokuthengisa i-stock kwi-$ 10 kuba bangayithengisa ngentengo ephezulu (i-R11) kwimarike yemasheya .
Umthengi uthengile ilungelo lokuthengisa isitokethi kwixabiso lesiteyibrari ukwenzela ixesha elithile. Ukuba ixabiso lentlawulo lihamba ngaphantsi kwexabiso lentengiso, ukhetho luya kuba nemali.
Umthengisi angathengisa inketho ngenzuzo (into eninzi eyenza abathengi ukuba benze), okanye usebenzise indlela ekupheleni kwayo (thengisa izabelo zomzimba). Kule lungelo, umthengi uthengise "i-premium".
Umthengisi / umlobi ufumana i-premium. Ukubhala okukhethiweyo kuyindlela yokuvelisa imali. Imali engenayo ekubhaliseni ukhetho olukhethiweyo lukhawulelwe kwi-premium efunyenweyo nangona kunjalo, ngelixa inzuzo enkulu yomthengi inokwenzeka xa kwenzeka ukuba isitokethi sifike kwi-zero.
Omnye ubeka ukhetho lubonisa izabelo eziyi-100 okanye isixa esithile se-asethi esezantsi. Beka amaxabiso acatshulwe ngesabelo ngasinye. Ngoko ke, ukubala ukuba kuthengwa kangakanani ukuthenga okukhethiweyo kuya kuthatha ixabiso, uthathe intlawulo yekhetho kwaye uyandise nge-100 (kwindlela yokugcina impahla).
Beka okukhethwa kukho kwiMali, okanye ngaphandle kweMali. Kwimali kuthetha ukuba intengo yexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso eliphantsi Ngaphandle kweMali kuthetha ukuba intengo yexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso lexabiso. Xa uthengisa inketho yokukhetha ungayithenga, Nge, okanye ngaphandle kwemali. I-premium yakho iya kuba yinto enkulu kwiNkokhelo yeMali (kuba sele ixabiso langaphakathi), ngelixa i-premium yakho iya kuba ngaphantsi kwe-Out of the Money.
Ezinye Izinto Eziza Kukwazi Ngamacebo kunye neefowuni
Ixabiso lentetho lenkqantosi kunokuba luyinkimbinkimbi kuba ixabiso (i-premium) lekhetho lisekelwe kwiimeko ezininzi, kubandakanywa nokuba kude kangakanani okanye ngaphandle kwemali leyo, ukungazinzi kwexabiso le-asethi kunye nendlela ekukhethwa ngayo ukuphela. Ezi ndlela zikhethiweyo zentengo zibizwa ngokuthi ' amaGrike ', kwaye zifanelekile ukufundisisa ngaphambi kokuba uhlalutye kwiindlela zokuthengisa.