Izinketho zixhobo zokufumana . Esinye sezizathu zokukhetha ukurhweba kunye nokutyalomali kukuzonwabisa kakhulu oko kukufana nomdlalo we-chess. Ngexesha lobomi bokukhetha, kukho amathuba amaninzi aza kuphucula okanye ukutshabalalisa ixabiso lesimo. Kukho izinto ezininzi ezihambayo kwi-puzzle yeendlela zokuthengisa. Ixabiso lokukhetha elikhethiweyo lihamba phezulu okanye linciphile njengoko ukunyanzeliswa okubonakalayo kunokunyuka okanye kwehla kwaye ukubonelela kunye nokufuna izikhetho ngokwabo kuzakuhambisa iiprayimenti zokukhetha.
Ukufowunelwa kweefowuni yinto yokuba ubani ochaphazelekayo kwiimarike ezikhethiweyo kufuneka aziqonde. Iparity is equal equivalence. Ingqiqo yenkcazo yokukhetha kunye nesakhiwo kukuba izixhobo ezimbini, zibeka kunye neefowuni, ziyancedisa ngokumalunga nexabiso kunye nokulinganisa. Ngoko ke, ngokwazi ukubaluleka kokukhethwa kwenkqubo ungakhetha ngokukhawuleza ukubaluleka kokukhethwa kwefowuni eyongezelelweyo (kunye nexabiso elifanayo kunye nomhla wokuphela). Kukho izizathu ezininzi zokuba oku kubaluleka kubarhwebi kunye nabatyalomali. Iyakwazi ukugqamisa amathuba anenzuzo ayenayo ngokwabo xa iipalamum zenketho ziphuma. Ukuqonda ukunxibelelana kweefowuni kunokukunceda ukuba ulinganise ixabiso elihambelana nolu hlobo onokuyiqwalasela iphothifoliyo yakho.
Kukho iindlela ezimbini zokukhetha - iMelika kunye neYurophu. Ukusetyenziswa kwamanyathelo aseMerika kunokuba kunini na ngexesha lokuphila kwabo ngelixa ukusetyenziswa kwezinto zaseYurophu kuphela kwenzeka kwixesha 'lokuphelelwa yisikhathi.'
Ngokuqhelekileyo, ubume beefowuni-fowuni busebenza kuphela ngokugqibeleleyo ngeendlela zeYurophu. Umhlobo waseLondon wandixelela ukuba umehluko kwisigama-magama sivela ekubeni abantu baseMerika bafuna ukunyaniseka ngokukhawuleza ngelixa abantu baseYurophu bevame ukunyamezela. Andiyithenge loo mzuzwana xa ifika kwimali nakwiimarike akukho mntu unomonde.
Iipresimenti zokukhetha zinamalungu amabini - ixabiso langaphakathi kunye nexabiso lexesha. Ixabiso lokungena kwi-intrinsic liyinxalenye yecandelo lokukhetha. Inketho ye-$ 15 yesilivere nge-premium ye-$ 1.50 xa isilivere ithengisa i-$ 16 ine-1 yexabiso langaphakathi kunye nama-50 exabiso lexesha. Ixabiso lexesha limela ukubaluleka kwenketho ejoliswe kuphela kwixesha. Inketho ye-$ 17 yefowuni ene-premium yeekenti ezingama-50 xa isilivere ithengisa i-$ 16 ayikho inzuzo ye-intrinsic kunye neekenti ezingama-50 zexabiso lexesha. Ngako oko, i-in-the-money options inokubaluleka kwexesha kunye nexabiso lexesha ngelixa ukhetho lwangaphandle kwexabiso luba nexabiso lithuba kuphela. Ukufowunelwa kweefowuni kukunyuselwa kwezi ngcamango.
Ukuba iJuni yegolide ithengisa nge-1200 yeeyunithi, i-Juni $ 1100 yefowuni kunye ne-premium ye-$ 140 inexabiso le-100 yangaphakathi kunye ne-40 yexabiso lexesha. I-concept of pla-call call, ngoko, isitshela ukuba ukubaluleka kwe-$ 1100 ye-Juni kuyakukhethwa ngu-40.
Njengomnye umzekelo, ukuba i- cocoa kaJulayi yayithengisa i-$ 3000 ngetoni nganye, i-$ 3300 ye-Julayi ifake inketho nge-premium ye-$ 325 nganye ngetoni yayiza kusitshela ngokuqinisekileyo ukuba ixabiso lekhefu likaJulayi lama-3300 yekholi li-$ 25 nganye ngetoni. Njengoko unokucinga, fowuna uze ufake iindlela ezikhoyo kwi-xabiso lemali (ukulinganisa amanani afana nexabiso langoku elizayo) kunye nokuphelelwa okufanayo kunye nexabiso lesiteleka (i- straddles ) iya kuthengisa ngexabiso elifanayo njengoko bobabini banexabiso elifanelekileyo.
Ukuzisa konke lokhu, kukho iifomula ezilula ukukhumbuza iindlela zokhetho lweYurophu:
Ixesha elide + Ixesha elifutshane = Ukubeka ixesha elide (intengo yesiteleka esifanayo kunye nokuphelelwa yisikhathi)
Ukubeka ixesha elide + Ixesha elide = Ixesha elide (intengo yesiteleka efanayo kunye nokuphelelwa yisikhathi)
Ixesha elide + Iifutshane Faka = Ixesha elizayo (intengo yesiteleka efanayo kunye nokuphelelwa yisikhathi)
Ukubeka ixesha elifutshane + Iifowuni emfutshane = Ixesha elifutshane (ixabiso lesiteyimu efanayo kunye nokuphelelwa yisikhathi)
Ezi ntlobo zezikhundla zezikhundla zokwenza izinto ezidalwe ngokudibanisa iinketho ezifunekayo kunye nexesha elizayo kunye nokukhula okufanayo kunye neendlela zokukhetha, amaxabiso athile afanayo.
Izinketho zixhobo ezimangalisayo. Ukuqonda okukhethwa kukho kunye nokubeka iifowuni kuyakuphucula ulwazi lwakho lweentengiso kwaye uvule iingcango ezintsha zentengo kunye nokulawulwa kwengozi kuyo yonke imali yakho yokutshala imali kunye nemisebenzi yokurhweba.
Ukufowunelwa kweefowuni yimbonakalo yeemakethe zokukhetha ezisebenzisayo kwimpahla kuphela kodwa zonke iimarike ze-asethi apho iimakethe zokukhetha zikhula.
Sebenzisa ixesha kwaye uqonde ukubambisana kweefowuni njengoko kuyimfundiso eya kukubeka kwindawo yokuqonda iimarike ezingcono kunokuba abanye abathathi-nxaxheba beemarike banikezela ngaphaya kobonke ukhuphiswano. Ukuphumelela kwimarike ngokuqhelekileyo kuba ngumphumo wokubona ukuhlukana kweemarike okanye ukungalungi phambi kwabanye. Xa uyazi ngakumbi, bhetele amathuba okuphumelela.