HOBALL 筆記簿

August 11, 2008

期權 價差交組合交易

引用自ctm eddie,稍經編輯,原文

請問乜野係”價差交組合交易”?

如果你認為個市上升,但要控制風險唔想蝕曬就可用多頭價差組合Long Call Spread(順向價差)
以今日收市計:
LC22000@385+SC22400@284=整個組合風險係101點,賺係285點,基本到達1:28.2

如果你認為個市下跌,但要控制風險唔想蝕曬就可用多頭價差組合Long Put Spread(順向價差)
LP22000@668+SP21800@553=整個組合風險係115點,賺係86點,基本到達1:0.85

亦可用空頭價差組合(逆向價差組合)

如果你認為個市上升,想用增加多頭期權既利潤,但要控制風險唔想蝕無限就可用空頭價差組合(Short Put Spread)
以今日收市計SP22000@651+LP21800@553=整個組合風險係102點,賺係98點,基本到達1:0.96
如果你認為個市下跌,想用增加多頭期權既利潤,但要控制風險唔想蝕無限就可用空頭價差組合(Short Call Spread)
SC22000@445+LC22400@314=整個組合風險係269點,賺係131點,基本到達1:0.48

風險大小與利潤成正比,風險越大,利潤越大!風險大小由自我決定!
總好過,由於想降低風險,採用超價外期權!

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