Ukuthenga Option Call
Inketho yefowuni inelungelo lokuthenga isitokethi, okanye kweli- ETF .
Kude ufike umhla wokuphela kwefowuni, unelungelo lokuthenga i-ETF ephantsi kwintengo ethile eyaziwa njengexabiso lentlawulo.
Umzekelo, ukuba uthengela umnxeba we-Dec 80 OIH (i- ETF yeoli ) unelungelo lokuthenga i-ETF ibe ngama-dollar angama-80 nanini nanini ukuya kuLwesihlanu ngoDisemba. Ngoko ukuba i-OIH ithengisa i-$ 90, unokuyithenga kuma-80. Nangona kunjalo, ukuba i-OIH ayifumani ngaphezu kwama-dollar angama-80 phambi kukaDisemba, umnxeba wakho uya kuphelelwa lixesha. Awuyi kusebenzisa ilungelo lokuthenga i-ETF kuma-dollar ayi-80 xa uyayithenga ngokuthe ngaphantsi koko.
Ngoxa ixabiso lomnxeba ngamnye lomnxeba liya kuhluka ngokuxhomekeke kwintengo ekhoyo ye-ETF, unokukhusela okanye uzivelele ekuhlaleni ukuthenga ukuthenga umnxeba. Ukugqithisa kwintengiso yexesha elide, kufuneka ube nethemba lokuba i-ETF iphakame ngaphezu kwexabiso lesiteyibhrari kunye nentengo yokuthenga yefowuni oyithenge. Ngoko ukuba uthengela u-Dec 80 umnxeba we-$ 2, udinga i-ETF ukuba inyuke ngaphezulu kwe-$ 82 ukuze idibanise.
Nantoni na ngaphezu kwama-82 ayi-inzuzo. Ukuba i-ETF ayifumani ngaphezu kwe-$ 80, ilahleko lakho li-$ 2 kuyo yonke ifowuni oyithenge.
Ukuthengisa iOfowuni
Xa uthengisa umnxeba, uthatha indawo echasene nomthengi wefowuni. Ufuna i- ETF ukuba ihle. Ukusebenzisa umzekelo wethu, ukuba uthengisa u-Dec 80 umnxeba we-$ 2, uza kwenza i-$ 2 kuyo yonke ifowuni ukuba inani le-ETF lingaphumi ngaphezu kwama-80.
Nangona kunjalo, ukuba i-ETF ikhuphuka ngaphezu kwekhefu-yeyona nkcazo ye-$ 82, unesibopheko sokuthengisa i-ETF kwi-80 ukuya kumnini wefowuni uze wenze ilahleko.
Iindlela zokuthengisa ziyiqhinga eliphambili ngakumbi lokuthengisa kunokukhetha izinto. Xa kuthengwa okukhethwa kukho, ingozi enkulu yintengo yokuthenga kwaye inzuzo ayinakulinganisela ukuhlaselwa. Nangona kunjalo, xa uthengisa ukhetho, inzuzo enkulu yintengo yokuthengisa kwaye umngcipheko awunamkhawulo. Umtyalo-mali kufuneka abe ngononophelo kwaye afundiswe kakhulu ngaphambi kokuthengisa izinto.
Ukuthenga i-Option Option
Kukho indlela ekhuselekileyo yokufumana ukutyhila okanye ukuhlawula umgca we-ETF kunokuba uthengise ukhetho lwefowuni. Ukuba ucinga ukuba i-ETF iya kuncipha kwixabiso okanye ukuba ufuna ukukhusela umngcipheko ophantsi, ukuthenga ukhetho olukhethiweyo lungaba yindlela yokuhamba. Ukhetho olukhethiweyo lunelungelo lokuthengisa i-ETF ngexabiso elithile. Ukusebenzisa umzekelo wethu, ukuba uthengisa u-Dec 80, uza kuba nelungelo lokuthengisa i-ETF engaphantsi kwama-$ 80 nanini na ngaphambi kweDisemba. Ukuba i-ETF ithengisa nge-$ 75 naliphi na ixesha ngaphambi kukaDisemba, unokuyithengisa kwi-80 eyi-80 kwaye uzuze ulwahlulo kwixabiso. Ukuba i-ETF ihlala ingaphezulu kwama-80 lee-80, ngoko ukubeka kwakho kuza kuphelelwa lixesha. Awungayithengisi i-ETF kwi-$ 80 xa ithengisa kwixabiso eliphezulu.
Kwakhona, kufuneka ube nexabiso lentengo kwi-equation yakho.
Ukuba i-Dec 80 ifakwe ithengwa i-$ 4, kwaye ukuphuka kwakho-nokuba yi-$ 76 (i-$ 80- $ 4). Ngoko ukuba i-ETF ithengisa i-$ 75, kwaye usebenzisa ilungelo lakho lokuyithengisa kwi-$ 80, uza kwenza i-$ 1 kukho konke ukhethe. Ukuba i-ETF ayizange idibanise ngaphantsi kwe-$ 80 ngaphambi kokuba i-expiration iphelelwe ngo-Disemba, ilahleko lakho liya kuba yixabiso le-4 lemali yokuthenga nganye.
Ukuthengisa i-Option Put
Xa uthengisa inketho yokubeka, unika ilungelo kumthengi wokuthengisa ukuthengisa i-ETF kwintengo yesiteyimu ngexesha elide ngaphambi kokuphela. Esi sikhundla esichaseneyo sokuthenga ukubeka, kodwa kufana nokuthenga umnxeba. Ufuna i-ETF ukuba iphakamise okanye ihlale ingaphezu kwexabiso lentengo.
Ukusebenzisa umzekelo wethu, ukuba uthengisa u-Dec 80 ubeke i-$ 4, awufuni ukuba i-ETF ingene ngaphasi kwe-$ 80 ngaphambi kokuphelelwa yisikhathi ngo-Disemba. Okanye angabi ngaphantsi kwekhefu-yeyona nkalo ye $ 76. Ukuba oko kunyanisekileyo, uzuza i-$ 4 kuyo yonke into oyithengisayo.
Nangona kunjalo, ukuba i-ETF yehla ngaphantsi kwekhefu-nokuba yintengo, uya kuqala ukuvelisa ilahleko kuwo onke amashishini asetyenziswayo.
Kwakhona, kubalulekile ukuqaphela ukuba ukuthengisa okukhethwa kukho kunobungozi obuninzi kunokuba ukhethe ukukhetha. Oko akuthethi ukuba akunakunceda. Iindleko zalo mngcipheko zenziwa kwixabiso lokukhetha. Kodwa ukuba ungumqali kwihlabathi leefowuni kwaye ubeka, ukuthenga iindlela ze-ETF yindlela ekhuselekileyo.
Iingcamango Zokugqibela
Nangona kukho iindlela ezininzi zokufaka iindlela zobuchule be-ETF kwiipotifoliyo zakho, ezi zizinto ezisiseko zeemveliso ze-ETF. Emva kokuba uziva ukhululekile kunye neziseko zokurhweba okukhethayo, kuphela ke kufuneka uqikelele izicwangciso zokuthengisa eziphakathi okanye eziyinkimbinkimbi ezifana ne- straddles ne-volatility arbitrage . Ukukhahlela ngaphambi kokuba uhambe.