Ukusebenzisa i-Volatility Skew
Icandelo 1: Isingeniso kwi-skew .
Abanini-mali abatyali abaninzi basebenzisa iindlela zokunyusa umvuzo wabo. Phakathi kwabo batyali-mali ke abo banqwenela ukuthatha indlela elula ebomini babo-kwaye kubandakanya indlela abaphatha ngayo imali-mali kunye nokuthengiswa. Akukho nto iphosakeleyo ngolu hlobo, kodwa ukuba uthatha ixesha lokufunda ngaphezulu, amathuba okuba ukusebenza kwakho kuya kuphucula.
Enye indlela apho umthengisi ongakhetha kuzo onokuyisebenzisa kakhulu angasebenzisa ngolwazi olongezelelweyo lwenzeka kwiimeko apho ukungahambisani nokukodwa (ie, "ukutyeba" okanye "ukukhawuleza" kwekhava lokunyaniseka) kuya kutshintsha.
- Xa i-curve ye-skew ihambelana nemigangatho yembali, leyo ibonisa ithuba elihle lokuqalisa imisebenzi eya kuzuza inzuzo -kuba kwaye xa ijika liba ngaphantsi kwaye libhekiselele kwixabiso layo eliqhelekileyo.
I-steke skew iguqulela kumaxabiso aphezulu (ngenxa yokuphakama kwe-IV) kwi-OTM ibeka iinketho kunye namaxabiso aphantsi kwiinketho ze-OTM zokufownela. Umhwebi angakhetha ukusabalala okufutshane nezo zikhetho ezikhethiweyo eziphezulu zokufumana inzuzo yokufunda. Ngokomzekelo, umlinganiselo wokusabalalisa uvumela umthengisi ukuba athengise ubuninzi bezinketho ze-OTM ezongezelelweyo - ngentengo ephakamileyo - ngoko uthenge. QAPHELA: Ukuthengisa okungekho, okanye izinto ezikhethiweyo zingabonakali kakhulu kuwe ngenxa yokuba ukulahleka okungenakukuphela. - Xa i-curve ye-skew ekhoyo ihambile ngokwemigangatho yembali, abahwebi banokuyisebenzisa ngokunjalo loo mimoya ngokukhetha i-OTM ngaphandle kweendleko zabo eziqhelekileyo. Esi sicwangciso sisebenzela abatyalo-mali abakhetha ukhetho lwe-OTM njengendlela yokukhusela iphothifoliyo, nangona iinqununu zilahlekelwa lixabiso njengoko ixesha lidlulayo . Kwakhona kuyathandwa kubahwebi abathanda ukubiza iifowuni ze-OTM - kuphela xa kuthengiswa imakethi engalindelekanga.
I-curve ephathekayo inikezela ithuba lokuthengisa abathengisi bebhathaneli kuba iqhinga libandakanya ukuthenga okukhethiweyo kwe-OTM kunye nokuthengisa ii-ATM (kwi-money-options).
Inkqubo yokuvavanya ukuba i-skew yangoku idibene okanye ayizinzima, kodwa kuthatha ixesha ukujonga ukuba kukho umgca ongabamba. Ukuba uceba ukusebenzisa amaninzi amaninzi kunokwenzeka ukuba ufumane umgca wezobugcisa xa ukhetha iindlela zokurhweba, kulungele ixesha lakho ukuqonda iingcamango ezisisiseko zokukhetha , kwaye eziquka ukungazenziyo.
Iingcamango ezikhankanywe apha zifana nezo zipapashwe nguJared Woodard kwiConstor Options .