Kuunganidza Nguva Kuparara Kunosanganisira Ngozi
Vatengesi vekutengesa vanogona kunakidzwa nenguva yekuora (positive Theta) - asi iyo nzvimbo dzinouya neGamma isina kunaka - uye iyo inoshandura kuva mukana wekuita kuti kurashikirwa kukuru. Vamwe vatengesi vanosarudza kuva nemasarudzo, pamwe chete nekukwanisa kuwana purogiramu yakawanda nguva yakawanda. Zvisinei, izvi zvinzvimbo zvinouya neTheta zvisina kunaka, zvinoreva kuti nzvimbo yacho inorasikirwa nemari pane imwe nguva kunze kwekuti mutengo wemari unotora zvakakwana kukanganisa kuora uku.
Kunyangwe kuve mutengi mutengesi kana premium muchengeti ndeimwe yezvisarudzo zvikuru zvevashandi vekutengesa kusarudza.
Iyo yakanakisisa yekugadzirisa mhinduro ndeyekuwana mumwe wako munharaunda yekunyaradza. Kana iwe ukasarudza kutora mukana wokuva nemafungiro akaipa emuGamma, ipapo nzira yakanakisisa yechinetso chekukuvadza ndeyokuva nematunhu ane ngozi shoma. Mune mamwe mazwi, pane zvose zvinosarudzwa zvinotengeswa, tenga imwe nzira isingadhuri yeiyo yega (kufonera kana kuisa). Shanduro: Trade credit inopararira panzvimbo yekutengesa kusarudzwa kwakashama .
Nhoroondo yekare yevadzidzi vatsva kumusana wekushandisa maGiriki kuyera dambudziko :
Nzvimbo ine gamma yakanaka: Fungidzira kuti iwe une purogiramu imwe chete ye-in-the-money yekusarudza:
Mutengo wematengo: $ 74
Strike Price $ 80
Mazuva Kuzopera: 35
Kuratidzira: 27
Theoretical Value: $ 0.61 (used CBOE calculator )
Kana nhamba yacho ichienda kumusoro, unotarisira kuwana mari. Zvisinei, kana nguva yakawandisa ichipfuurira chisarudzo chingarasikirwa nehuwandu (nemhaka yeTheta yakaipa), kunyange kana sangano richiungana.
Funga nezvemazana emadhora emiti - rimwe vhiki gare gare. Ngwarira gamma uye kuti zvinosvibisa sei delta.
Stock Price | $ 74 | $ 76 | $ 78 | $ 80 | |
|---|---|---|---|---|---|
Delta | 16 | 26 | 38 | 52 | |
Gamma | 4.4 | 5.7 | 6.5 | 5.9 | |
Theta | 2.4 | 3.3 | 4.0 | 3.5 | |
Pfuma | ($ 0.17) | $ 0.24 | $ 0.86 | $ 1.78 | |
Mhinduro pamusoro pe data:
- Gamma inowedzera sezvo sengo inofamba yakakwirira - kusvika pane zvaunosarudza delta inosvika 50. Kuti unzwisise kuti sei gamma isingapfuuri kuwedzera pashure peimwe pfungwa, fungidzira nezvekusarudza delta kana mari yacho iri $ 200. Pamutengo uyu, delta yaizova zana uye sarudzo inofambisa pfungwa-ye-kumwe nenzvimbo. Delta haikwanise kuva pamusoro pe100 uye saizvozvo, panofanira kuva nechinangwa apo Delta haichazowedzere . Cherechedza: Gamma inoramba ichitsigira, asi inowedzera kuva yakanaka. Kana izvozvo zviri chokwadi, saka pane inofanira kuva nechinangwa apo Gamma anoramba uye anosvika zero.
- Sezvo nhamba inofamba ichikwirira, Delta inowedzera (kusvikira yasvika zana). Nokudaro, imwe neimwe ye $ 1 inoshandiswa mumutengo wematengo, Delta yakakwirira kudarika yaive yapfuura - uye mukana wekuti sarudzo inowana kuwedzerwa inokurumidza.
- Pawakatenga ichi sarudzo, Delta yaive nemakore makumi matatu nemana (iyo Dhiyabhorosi inoratidza 16-Delta nokuti iyo data inotsanangura inotorwa vhiki imwe chete gare gare). Nokudaro, iwe unogona kutarisira kuwana $ 38 (2 * $ 19) kana chikwata chakatamira ku $ 76. MuTetere, tinoona pfuma yacho yaiva $ 24 chete. Ingadai yakave $ 47 kana pasina nguva yakanga yapfuura.
- Sezvo nhamba yakakwira imwe imwe 2-nhovo, iyo yakasarudzwa yakawana $ 0.62. Izvi zvakakwirira zvakanyanya kudarika pfuma inogadzirwa nemapato maviri apfuura.
- Chimwe chikwata chechipiri chechipiri kusvika ku $ 80 chinowedzera $ 92 muzviwanikwa. Kamwe zvakare, muyero iyo mari inowanikwa inowedzerwa.
Mutengo unoshevedzwa mahofisi ekuwana mari inowedzera sezvo shamba inofamba yakakwirira nokuti Delta inowedzera. Nokudaro, basa raGamma mubatsiro / kurasika zvinogona kushandiswa kutengesa chinhu chikuru. A 19-Delta sarudzo yave yava 52-Delta sarudzo apo mutengo wematengo wakabva kubva $ 74 kusvika ku $ 80 muvhiki imwe chete. Ndinokutendai, Gamma!
Gamma ndiyo yechipiri yekuGreece nokuti inotarisa kuti imwe chiGiriki inoshandura sei nemutengo wemari, uye kwete kuti mari yekutenga inoshanduka sei.
Cherechedza kuti gamma yakachinja kubva pa4 kusvika ku6. Nokudaro, kwete chete Gamma akakurudzira Delta uye pfuma yemuridzi wekudana, asi yakawedzerawo zvikomborero izvi seGamma pachayo yakakura kukura. (Icho ndicho chigumisiro chechitatu chechiGiriki (Kachimbidzika), uye kunze kwehuwandu hwechidzidzo chino.)
Mhedziso : Positive Gamma inobatsira kumunhu waanosarudza uye mari yekuwana iyo Gamma ndiTheta. Positive Gamma inowedzera kuwedzera kweDaalta inobatsira (kureva, inofadza kune vanowiridzira mazita kana mashizha achienda kumusoro uye asina kunaka kwekuisa vatenzi kana mashizha ematengesi achienda pasi). Kutaura zviri nyore:
Positive Gamma inoita chinhu chakanaka zviri nani.
Negative Gamma
Sezvaunofanirwa kuziva, kana ichi chiri chimiro chakanaka chemugadziri uyu, ipapo mufananidzo unofanirwa kunge wakave wakaipa kune munhu akatengesa chisarudzo (asina chekudzora rusvingo). Mutengesi uyo ane negative Gamma.
- Kana iwe uri pfupi iwe uchisarudzwa kusarudzwa uye misika iri kuwira, saka mutengo wekuti mari yakarasika inoramba ichikurumidza kuwedzera nekuda kweGamma isina kunaka.
- Kana iwe uri mutsva pfufiti imwe chete uye musika uri kuwedzera, saka mutengo wekuti mari yakarasika inoramba ichiwedzera nekuda kwemaGamma akaipa.
Negative Gamma inoita kuti mamiriro ezvinhu akaipa awedzere.
Sei mutengesi akasarudzwa kutora njodzi inouya nekutora zvakaipa-Gamma nzvimbo? Kana muridzi wekutsvaga kuti awane purogiramu, chikwata chinokosha chinofanira:
- Famba nenzira yakarurama (kumusoro kwefonero; pasi nokuda kwekuisa),
- Endai nokukurumidza kudzivirira kurasikirwa kwemari yakawandisa nguva yekuora (Theta).
- Enda kure zvakakwana kuti usakure mari yekutenga chisarudzo.
Icho chinhu chakanyanya kubvunza. Vatengesi vakawanda vane nguva yakaoma kwazvo kufanotaura kutengeserana kwemakero pasina nguva yekukwanisa. Nokudaro, kusarudza mutengesi kune mukana wakakodzera wekuwana mari. Izvozvo zvinoita kuti zvive zvakanaka.
Yambiro: Kana kutengesa zvisarudzo zvinonzwika zvakanaka, nyatsoteerera.
Mamwe mavhesi dzimwe nguva anotarirwa kusatarisira mutengo kuchinja , uye kusarudza mutengesi kunogona kukuvadza.
Zvinokurudzirwa kutengesa kupararira , panzvimbo yekusarudzwa kusarudzwa.
Girafu riri pamusoro peji rino rinoratidza chiitiko ichi. Misiyano chete ndeyokuti girafu ndeyemamiriro ezvinhu ane ngozi shoma (pfupi inopararira pane nzvimbo shoma chete yakasarudzwa).
Kana uchitengesa zvakaipa-Gamma nzvimbo, shandisa girazi risina ngozi kukuzivisa iwe uri pangozi yekurasikirwa nemari yakawandisa, kana kana nzvimbo yacho yaenda kune mhiri kwemiganhu yenyu inonyaradza . VaGiriki vanokubatsira kuti uenzanise mutengo wauchazoitika - uye izvi zvinonzwika alarm, zvichikubvumira kuderedza ngozi.