期权教学


What is an Option? 


期权是一种金融工具。你可以在几乎你所能遇见的任何投资环境中灵活地运用它。
你可以用期权根据你的情况有选择性地设置你的仓位。

你可以在市场价格下跌的情况下保护你所拥有的股票。
你可以利用你所拥有的股票赚取收益。
你可以作准备以低价买进股票。
即使你不知道价格如何变动,你也可以作好准备以应对市场的大幅度浮动。
你可以在不直接购买股票的情况下从股票价格的上升或下降中得益。
以下部分为任何想了解普通股期权的投资者提供了基本术语和讲解。

What is an Option?



普通股期权是赋予其持有者以在固定的日期(到期日)的当日或之前,按照约定的价格 (执行价格)买进(如果是看涨期权)或者卖出(如果是看跌期权)一定数量标的物的权利(并非义务)的合同。在这个固定日期之后,这个期权就不再存在。同样,在期权持有者的要求下,期权卖出者有义务在约定的价格卖给期权拥有者约定数量的股票(如果是看涨期权),或者从期权拥有者手中买入约定数量的股票 (如果是看跌期权)。

普通股期权通常代表100 股的标的物股票。

执行价格(或履行价格)是在期权合同执行的情况下,期权拥有者购买 (如果是看涨期权)或卖出(如果是看跌期权)的每股标的物的价格。 执行价格是期权合同的一项固定的指标。不应将其与权利金混淆。 权利金是期权交易的价格,每日浮动。

在不同的价格区间,普通股期权的执行价格的单位增长为1,2,2 ½, 5,或 10 点。

有可能对普通股期权合同的大小和(或者)执行价格进行调整以适应股票的分裂或合并。

一般地说, 在任何时间,拥有四个到期日之一的某一普通股期权可被购买。

普通股期权的拥有者不享有股票拥有者所享有的权利。这些权利包括投票权,定期的现金或特别股息等等。看涨期权的拥有者必须执行期权并 拥有标的物的股票以拥有这些权利。

在交易市场中,所有的交易是以拍卖市场中的竞争方式进行的。交易市场中的买家和卖家确定期权价格。



Important Note: Options involve risk and are not suitable for all investors. For more information, please read the Characteristics and Risks of Standardized Options

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