$标普500ETF _老虎社区_美港股上老虎 - 老虎社区

$标普500ETF CUSTOM 250214 CALL 598.0/PUT 597.0/PUT 598.0/CALL 618.0$ 今天跟大家分享一个期权组合策略--合成多头策略，我们可以观察一下一组期权的delta数值，一定会发现在一个行权价格出，put和call的绝对值相加一定是约等于1，那么我们买入一张call+卖出一张put等于做多股票，约等于持有一支股票100股，但实际持有成本降低了1/3（保证金），如果想要进一步降低保证金，可以在行权价格上下各加一个“保险”这里就形成了一个collar策略，卖出一个搞行权价的call，保护性买入一张put，那么这个组合就形成了，组合的效果就是股票价格下跌亏损有限，上涨的收入也有限，是一个上有封顶，下有保底的策略，风险就是注意选择到期时间，尽量选择适合自己到期时间！

晒晒更赚钱

晒晒你的盈亏单，秀秀虎友们的实力！

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

精彩评论

小米死多头
02-06
小米死多头
多谢分享，不过还是没看太懂，可以在讲的细一点吗？
- 风华几度:
  举一个例子，实际上就是类似“我买了一手100股的苹果股票”，比如目前股价是220，我卖出一张240的call增加额外收入，同时买入一张210的put来对冲下跌风险，而期权的组合这里就把100股股票替换成了220的行权价格处的“买入1张call+卖出一张put”，而持有100股220价格的苹果股价，需要2.2w，而利用期权组合则只需要约8000保证金左右就足够了，而苹果股票上涨多少，你的期权组合也会相应的上涨，所以叫做“合成多头”，而在标的资产上面卖出call增加收入叫做covered call，买入put叫做pp策略
风华几度
02-06
风华几度
这里有一个期权同行权价格的公式：也就是put+股价=call+行权价格，变形后，因为行权价格不变，所以是恒定常数，所以股价=call-put=call+（-put）
Inmoretion
02-06
Inmoretion
感谢分享，这个说的很详细了，但是逻辑还是有点没太懂
又踩雷了
02-06
又踩雷了
有点复杂😂

发表看法

5

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