深圳王爷
2022-06-18
其实,无论买call还是put,都是小资金不得已的玩法,只为以小博大。而大资金,大都是卖call和put的,稳稳收取权利金,就算被行权也无所谓,反正资金量足够。
@捷克Jack:
为什么要用期权来对冲下跌行情?
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南宁樱花
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其实,无论买call还是put,都是小资金不得已的玩法,只为以小博大。而大资金,大都是卖call和put的,稳稳收取权利金,就算被行权也无所谓,反正资金量足够。</body></html>","htmlText":"<html><head></head><body>\n 其实,无论买call还是put,都是小资金不得已的玩法,只为以小博大。而大资金,大都是卖call和put的,稳稳收取权利金,就算被行权也无所谓,反正资金量足够。</body></html>","text":"其实,无论买call还是put,都是小资金不得已的玩法,只为以小博大。而大资金,大都是卖call和put的,稳稳收取权利金,就算被行权也无所谓,反正资金量足够。","highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":5,"repostSize":3,"favoriteSize":0,"link":"https://laohu8.com/post/689689071","repostId":689862859,"repostType":1,"repost":{"magic":2,"id":689862859,"tweetId":"689862859","gmtCreate":1655469912393,"gmtModify":1704862504740,"author":{"id":212008496769156,"idStr":"212008496769156","authorId":212008496769156,"authorIdStr":"212008496769156","name":"捷克Jack","avatar":"https://static.tigerbbs.com/7cc48e563d37c21562541a2874ce20e4","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":4,"crmLevelSwitch":0,"currentWearingBadge":{"badgeId":"f48104d3aff74204841356e6c91c4d07-1","templateUuid":"f48104d3aff74204841356e6c91c4d07","name":"周度最佳创作者","description":"每周获得最佳精华帖的创作者","bigImgUrl":"https://static.tigerbbs.com/271475ceaf67d40016c8cfa16c08c8b3","smallImgUrl":"https://static.tigerbbs.com/5a6336061b9ba82ba9177c7ec476f5f2","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":3,"allocatedDate":"2022.07.05","individualDisplayEnabled":0},"individualDisplayBadges":[{"badgeId":"3f8f4b8c193b4343a88817ce07587dbd-1","templateUuid":"3f8f4b8c193b4343a88817ce07587dbd","name":"星级创作者","description":"社区优质创作者:发表过3篇及以上精华帖,且30天内发表过至少一篇精华帖并参与过评论","bigImgUrl":"https://static.tigerbbs.com/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://static.tigerbbs.com/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://www.laohu8.com/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":0,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.11.27","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"}}],"fanSize":18977,"starInvestorFlag":false},"themes":[{"themeId":"bb9a2b0c920440e1a61a5f69d7f26762","categoryId":"20b8d1944bae4805b371322c2ab986d4","name":"聊聊我的期权交易心得","type":3,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/special/discussion&rndata={\"themeId\":bb9a2b0c920440e1a61a5f69d7f26762}&rnconfig={\"headerBarHidden\": 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<span style=\"color:rgba(240,0,0,1);\"><b>要么就赚尽期权的权利金,要么就让它亏小赚大!</b></span> \n</blockquote><p>牛市里,投资者(尤其是个人投资者)是不太会考虑占用资金去对冲的,因为在绝对的收益率面前,一点点回撤并无大碍。但如果市场转向了,不再是牛市,那对冲就显得必要了。</p><p>此处对冲针对多头,有两种:一种是针对熊市的下跌行情,另一种是针对涨不动也跌不动的浮动行情。无论哪一种,期权都是最佳的对冲品种。</p><h4><span style=\"color:rgba(255,0,0,1);\"><b>浮动行情:备兑期权(Covered Call/Put)</b></span></h4><p>什么时候卖出Covered Call最合适?一般是认为<span style=\"color:rgba(255,0,0,1);\"><b>持仓的标的上涨动能快要枯竭、或者已经轻微开始回撤的时候</b></span>,比如,\"出其不意\"地放量大涨,或者放量大涨后的若干天内。</p><p>举个例子,<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$腾讯控股(00700)$</a> 在6月8日放量大涨6.7%,这种涨幅虽然在两个月内出现了3次,但是放到历史上都是很罕见的。</p><p><img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/a7cd6af2de2e023f19e685dd7f6b7c26\" tg-width=\"1761\" tg-height=\"735\"></p><p>7月底到期的期权,400行权价的Call,也同样是在那两天达到一个峰值,最高成交价为26.32。</p><p><img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/7e71f84876c15e0e45c2511cf5656cc3\" tg-width=\"1170\" tg-height=\"1556\"></p><p>如果把日期向前调几日,4月29日单日暴涨了11.07%,而当时7月低到期的期权最高成交价为27.51。明明4月29日腾讯股价最高价只有388,而6月8日则高达406.8,相差近5%,但是6月8日的期权成交价却还不如此前高。<span style=\"color:rgba(255,0,0,1);\"><b>这主要期权卖方从时间价值递减中获得的好处。</b></span></p><p>因此,每当那些持仓股出现历史级别大规模的波动,尤其是突破布林带时,除了追涨杀跌,也可以考虑备兑期权。</p><p><i>风险提示:备兑期权的持方最希望碰到的是接下来遇到波动不太大的行情,如果走出了连续的单边,那么该亏损的基本免不了,该赚钱的会提前止盈。</i></p><h4><span style=\"color:rgba(255,0,0,1);\"><b>下跌行情:买波动率较低大盘PUT</b></span></h4><p>对美股来说,<a target=\"_blank\" href=\"https://laohu8.com/S/.SPX\">$标普500(.SPX)$</a> 以及<a target=\"_blank\" href=\"https://laohu8.com/S/.IXIC\">$纳斯达克(.IXIC)$</a> 都是被广泛认可的标杆(benchmark),而针对这两个指数的ETF、衍生品,不但种类丰富,而且流动性也好。</p><p>如果资金量较大,可以直接选择指数期权,甚至股指期货,而对资金量更小的投资者来说,选择对应ETF的期权也是不错的。</p><p>标普500指数ETF SPY的期权,就很适合来对冲</p><p>第一、<span style=\"color:rgba(255,0,0,1);\"><b>指数的波动率相对大部分个股较低,损耗小</b></span>,作为期权的买方,不用损失更多波动率带来权利金;</p><p>第二、指数作为标杆,<span style=\"color:rgba(255,0,0,1);\"><b>容易拿来估算</b></span>资产组合所需要对冲的资金。</p><p>如何匹配?打个比方:</p><blockquote>\n 现在有一个资产组合A,由50%的<a target=\"_blank\" href=\"https://laohu8.com/S/AAPL\">$苹果(AAPL)$</a> 和50%的<a target=\"_blank\" href=\"https://laohu8.com/S/BABA\">$阿里巴巴(BABA)$</a> 。以过去半年为维度,AAPL的beta=1.29,BABA的beta=1.61,那么这个资产组合的整体的beta=1.45。简单来说,这个资产组合A每波动1.45%,大盘(<a target=\"_blank\" href=\"https://laohu8.com/S/SPX\">$(SPX)$</a>)应该波动1%(实际上还有更多的变量)。 \n</blockquote><blockquote>\n 用大盘SPX来对冲股票资产组合,完全对冲时,则需要1:1.45来安排。 \n</blockquote><blockquote>\n 为了对冲这个资产组合的下跌,固然可以直接做空1.45倍相应金额的SPY,但同时,也可以选择买SPY的PUT来进行。以8月19日到期的SPY366美元行权价的平价PUT来看,当前的Delta=-0.474,意味着SPY每下跌1%,不算其他损耗的情况下,这张期权价格上涨0.474%。 \n</blockquote><blockquote> <img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/a094ac3a555fb67fa861762081250d1f\" tg-width=\"2532\" tg-height=\"1170\"> \n</blockquote><blockquote>\n 于是,资产组合A:SPY:Put = 1.45:1:0.474,换算过来,资产组合A:put=3:1。也就是说,<span style=\"color:rgba(255,0,0,1);\"><b>资产组合A中的每1000美金,需要价值3000美金的8月SPY Put来进行完全对冲</b></span>。 \n</blockquote><p>当然,实际操作中不必那么复杂,并且不用追求完全对冲(因为还要不断地调整),<span style=\"color:rgba(255,0,0,1);\"><b>你只要选择你认为合适的比例进行对冲即可</b></span>。比如你认为下跌风险更大,就调高对冲仓位,成为一个净空头。</p><p>目前<a target=\"_blank\" href=\"https://laohu8.com/S/SPY\">$标普500ETF(SPY)$</a> 366的平价期权的来看,386的价内期权的delta=-0.676,而346的价外期权的delta=-0.305。</p><blockquote>\n 当SPY上涨时,由于平价Put变成价外,Delta变小,Put产生的亏损会小于资产组合的盈利;当SPY下跌时,平价期权会变成价内期权,Delta增大,Put产生的盈利会大于资产组合的亏损。 \n</blockquote><p><img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/d546e6fe4cf4c8e896acf539d0fc7387\" tg-width=\"1170\" tg-height=\"1440\"><img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/b47dc5cd260ecf98a3cdd31fc59b7b07\" tg-width=\"1170\" tg-height=\"1143\"></p><p>总之就是,<span style=\"color:rgba(255,0,0,1);\"><b>大盘涨了,用于对冲的Put亏得少,大盘跌了,用于对冲的Put赚得多。</b></span></p><p><i>风险提示:最大的不利因素是时间价值的衰减,毕竟作为期权的买方,每天都会损失相应的的时间价值,这也是为何尽量选择到期日2个月以上的期权,因为相对衰减得少。但是相对股价的波动,远期期权的时间价值变化不太重要。</i></p><p>实际操作中,期权的确是最常见的对冲衍生品,它一方面占用的资金小,另一方面有“亏少赚大”的功效。个人投资者可能不太容易上手,但是在机构交易者中,是非常常见的。</p><hr><p>欢迎关注公众号:杰克不拉客</p></body></html>","htmlText":"<html><head></head><body><blockquote> <span style=\"color:rgba(240,0,0,1);\"><b>要么就赚尽期权的权利金,要么就让它亏小赚大!</b></span> \n</blockquote><p>牛市里,投资者(尤其是个人投资者)是不太会考虑占用资金去对冲的,因为在绝对的收益率面前,一点点回撤并无大碍。但如果市场转向了,不再是牛市,那对冲就显得必要了。</p><p>此处对冲针对多头,有两种:一种是针对熊市的下跌行情,另一种是针对涨不动也跌不动的浮动行情。无论哪一种,期权都是最佳的对冲品种。</p><h4><span style=\"color:rgba(255,0,0,1);\"><b>浮动行情:备兑期权(Covered Call/Put)</b></span></h4><p>什么时候卖出Covered Call最合适?一般是认为<span style=\"color:rgba(255,0,0,1);\"><b>持仓的标的上涨动能快要枯竭、或者已经轻微开始回撤的时候</b></span>,比如,\"出其不意\"地放量大涨,或者放量大涨后的若干天内。</p><p>举个例子,<a target=\"_blank\" href=\"https://laohu8.com/S/00700\">$腾讯控股(00700)$</a> 在6月8日放量大涨6.7%,这种涨幅虽然在两个月内出现了3次,但是放到历史上都是很罕见的。</p><p><img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/a7cd6af2de2e023f19e685dd7f6b7c26\" tg-width=\"1761\" tg-height=\"735\"></p><p>7月底到期的期权,400行权价的Call,也同样是在那两天达到一个峰值,最高成交价为26.32。</p><p><img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/7e71f84876c15e0e45c2511cf5656cc3\" tg-width=\"1170\" tg-height=\"1556\"></p><p>如果把日期向前调几日,4月29日单日暴涨了11.07%,而当时7月低到期的期权最高成交价为27.51。明明4月29日腾讯股价最高价只有388,而6月8日则高达406.8,相差近5%,但是6月8日的期权成交价却还不如此前高。<span style=\"color:rgba(255,0,0,1);\"><b>这主要期权卖方从时间价值递减中获得的好处。</b></span></p><p>因此,每当那些持仓股出现历史级别大规模的波动,尤其是突破布林带时,除了追涨杀跌,也可以考虑备兑期权。</p><p><i>风险提示:备兑期权的持方最希望碰到的是接下来遇到波动不太大的行情,如果走出了连续的单边,那么该亏损的基本免不了,该赚钱的会提前止盈。</i></p><h4><span style=\"color:rgba(255,0,0,1);\"><b>下跌行情:买波动率较低大盘PUT</b></span></h4><p>对美股来说,<a target=\"_blank\" href=\"https://laohu8.com/S/.SPX\">$标普500(.SPX)$</a> 以及<a target=\"_blank\" href=\"https://laohu8.com/S/.IXIC\">$纳斯达克(.IXIC)$</a> 都是被广泛认可的标杆(benchmark),而针对这两个指数的ETF、衍生品,不但种类丰富,而且流动性也好。</p><p>如果资金量较大,可以直接选择指数期权,甚至股指期货,而对资金量更小的投资者来说,选择对应ETF的期权也是不错的。</p><p>标普500指数ETF SPY的期权,就很适合来对冲</p><p>第一、<span style=\"color:rgba(255,0,0,1);\"><b>指数的波动率相对大部分个股较低,损耗小</b></span>,作为期权的买方,不用损失更多波动率带来权利金;</p><p>第二、指数作为标杆,<span style=\"color:rgba(255,0,0,1);\"><b>容易拿来估算</b></span>资产组合所需要对冲的资金。</p><p>如何匹配?打个比方:</p><blockquote>\n 现在有一个资产组合A,由50%的<a target=\"_blank\" href=\"https://laohu8.com/S/AAPL\">$苹果(AAPL)$</a> 和50%的<a target=\"_blank\" href=\"https://laohu8.com/S/BABA\">$阿里巴巴(BABA)$</a> 。以过去半年为维度,AAPL的beta=1.29,BABA的beta=1.61,那么这个资产组合的整体的beta=1.45。简单来说,这个资产组合A每波动1.45%,大盘(<a target=\"_blank\" href=\"https://laohu8.com/S/SPX\">$(SPX)$</a>)应该波动1%(实际上还有更多的变量)。 \n</blockquote><blockquote>\n 用大盘SPX来对冲股票资产组合,完全对冲时,则需要1:1.45来安排。 \n</blockquote><blockquote>\n 为了对冲这个资产组合的下跌,固然可以直接做空1.45倍相应金额的SPY,但同时,也可以选择买SPY的PUT来进行。以8月19日到期的SPY366美元行权价的平价PUT来看,当前的Delta=-0.474,意味着SPY每下跌1%,不算其他损耗的情况下,这张期权价格上涨0.474%。 \n</blockquote><blockquote> <img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/a094ac3a555fb67fa861762081250d1f\" tg-width=\"2532\" tg-height=\"1170\"> \n</blockquote><blockquote>\n 于是,资产组合A:SPY:Put = 1.45:1:0.474,换算过来,资产组合A:put=3:1。也就是说,<span style=\"color:rgba(255,0,0,1);\"><b>资产组合A中的每1000美金,需要价值3000美金的8月SPY Put来进行完全对冲</b></span>。 \n</blockquote><p>当然,实际操作中不必那么复杂,并且不用追求完全对冲(因为还要不断地调整),<span style=\"color:rgba(255,0,0,1);\"><b>你只要选择你认为合适的比例进行对冲即可</b></span>。比如你认为下跌风险更大,就调高对冲仓位,成为一个净空头。</p><p>目前<a target=\"_blank\" href=\"https://laohu8.com/S/SPY\">$标普500ETF(SPY)$</a> 366的平价期权的来看,386的价内期权的delta=-0.676,而346的价外期权的delta=-0.305。</p><blockquote>\n 当SPY上涨时,由于平价Put变成价外,Delta变小,Put产生的亏损会小于资产组合的盈利;当SPY下跌时,平价期权会变成价内期权,Delta增大,Put产生的盈利会大于资产组合的亏损。 \n</blockquote><p><img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/d546e6fe4cf4c8e896acf539d0fc7387\" tg-width=\"1170\" tg-height=\"1440\"><img referrerpolicy=\"no-referrer\" src=\"https://static.tigerbbs.com/b47dc5cd260ecf98a3cdd31fc59b7b07\" tg-width=\"1170\" tg-height=\"1143\"></p><p>总之就是,<span style=\"color:rgba(255,0,0,1);\"><b>大盘涨了,用于对冲的Put亏得少,大盘跌了,用于对冲的Put赚得多。</b></span></p><p><i>风险提示:最大的不利因素是时间价值的衰减,毕竟作为期权的买方,每天都会损失相应的的时间价值,这也是为何尽量选择到期日2个月以上的期权,因为相对衰减得少。但是相对股价的波动,远期期权的时间价值变化不太重要。</i></p><p>实际操作中,期权的确是最常见的对冲衍生品,它一方面占用的资金小,另一方面有“亏少赚大”的功效。个人投资者可能不太容易上手,但是在机构交易者中,是非常常见的。</p><hr><p>欢迎关注公众号:杰克不拉客</p></body></html>","text":"要么就赚尽期权的权利金,要么就让它亏小赚大! 牛市里,投资者(尤其是个人投资者)是不太会考虑占用资金去对冲的,因为在绝对的收益率面前,一点点回撤并无大碍。但如果市场转向了,不再是牛市,那对冲就显得必要了。 此处对冲针对多头,有两种:一种是针对熊市的下跌行情,另一种是针对涨不动也跌不动的浮动行情。无论哪一种,期权都是最佳的对冲品种。 浮动行情:备兑期权(Covered Call/Put) 什么时候卖出Covered Call最合适?一般是认为持仓的标的上涨动能快要枯竭、或者已经轻微开始回撤的时候,比如,\"出其不意\"地放量大涨,或者放量大涨后的若干天内。 举个例子,$腾讯控股(00700)$ 在6月8日放量大涨6.7%,这种涨幅虽然在两个月内出现了3次,但是放到历史上都是很罕见的。 7月底到期的期权,400行权价的Call,也同样是在那两天达到一个峰值,最高成交价为26.32。 如果把日期向前调几日,4月29日单日暴涨了11.07%,而当时7月低到期的期权最高成交价为27.51。明明4月29日腾讯股价最高价只有388,而6月8日则高达406.8,相差近5%,但是6月8日的期权成交价却还不如此前高。这主要期权卖方从时间价值递减中获得的好处。 因此,每当那些持仓股出现历史级别大规模的波动,尤其是突破布林带时,除了追涨杀跌,也可以考虑备兑期权。 风险提示:备兑期权的持方最希望碰到的是接下来遇到波动不太大的行情,如果走出了连续的单边,那么该亏损的基本免不了,该赚钱的会提前止盈。 下跌行情:买波动率较低大盘PUT 对美股来说,$标普500(.SPX)$ 以及$纳斯达克(.IXIC)$ 都是被广泛认可的标杆(benchmark),而针对这两个指数的ETF、衍生品,不但种类丰富,而且流动性也好。 如果资金量较大,可以直接选择指数期权,甚至股指期货,而对资金量更小的投资者来说,选择对应ETF的期权也是不错的。 标普500指数ETF SPY的期权,就很适合来对冲 第一、指数的波动率相对大部分个股较低,损耗小,作为期权的买方,不用损失更多波动率带来权利金; 第二、指数作为标杆,容易拿来估算资产组合所需要对冲的资金。 如何匹配?打个比方: 现在有一个资产组合A,由50%的$苹果(AAPL)$ 和50%的$阿里巴巴(BABA)$ 。以过去半年为维度,AAPL的beta=1.29,BABA的beta=1.61,那么这个资产组合的整体的beta=1.45。简单来说,这个资产组合A每波动1.45%,大盘($(SPX)$)应该波动1%(实际上还有更多的变量)。 用大盘SPX来对冲股票资产组合,完全对冲时,则需要1:1.45来安排。 为了对冲这个资产组合的下跌,固然可以直接做空1.45倍相应金额的SPY,但同时,也可以选择买SPY的PUT来进行。以8月19日到期的SPY366美元行权价的平价PUT来看,当前的Delta=-0.474,意味着SPY每下跌1%,不算其他损耗的情况下,这张期权价格上涨0.474%。 于是,资产组合A:SPY:Put = 1.45:1:0.474,换算过来,资产组合A:put=3:1。也就是说,资产组合A中的每1000美金,需要价值3000美金的8月SPY Put来进行完全对冲。 当然,实际操作中不必那么复杂,并且不用追求完全对冲(因为还要不断地调整),你只要选择你认为合适的比例进行对冲即可。比如你认为下跌风险更大,就调高对冲仓位,成为一个净空头。 目前$标普500ETF(SPY)$ 366的平价期权的来看,386的价内期权的delta=-0.676,而346的价外期权的delta=-0.305。 当SPY上涨时,由于平价Put变成价外,Delta变小,Put产生的亏损会小于资产组合的盈利;当SPY下跌时,平价期权会变成价内期权,Delta增大,Put产生的盈利会大于资产组合的亏损。 总之就是,大盘涨了,用于对冲的Put亏得少,大盘跌了,用于对冲的Put赚得多。 风险提示:最大的不利因素是时间价值的衰减,毕竟作为期权的买方,每天都会损失相应的的时间价值,这也是为何尽量选择到期日2个月以上的期权,因为相对衰减得少。但是相对股价的波动,远期期权的时间价值变化不太重要。 实际操作中,期权的确是最常见的对冲衍生品,它一方面占用的资金小,另一方面有“亏少赚大”的功效。个人投资者可能不太容易上手,但是在机构交易者中,是非常常见的。 欢迎关注公众号:杰克不拉客","highlighted":2,"essential":2,"paper":2,"link":"https://laohu8.com/post/689862859","repostId":0,"isVote":2,"tweetType":1,"commentLimit":10,"vote":{"id":1715,"gmtCreate":1655470835740,"gmtModify":1655470835740,"gmtBegin":1655470835740,"gmtEnd":1656162022292,"objectId":689862859,"type":1,"upper":1,"title":"你会选择用期权来对冲下跌行情吗?","introduction":"你会选择用期权来对冲下跌行情吗?","totalSize":75,"choices":[{"id":6326,"gmtCreate":1655470835740,"gmtModify":1655470835740,"voteId":1715,"sort":1,"name":"会","userSize":31,"voted":false},{"id":6327,"gmtCreate":1655470835740,"gmtModify":1655470835740,"voteId":1715,"sort":2,"name":"不会","userSize":27,"voted":false},{"id":6328,"gmtCreate":1655470835740,"gmtModify":1655470835740,"voteId":1715,"sort":3,"name":"我考虑考虑","userSize":17,"voted":false}]},"symbols":["BABA","AAPL",".SPX","SPY","SPX",".IXIC","00700"],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3081,"xxTargetLangEnum":"ZH_CN"},"isVote":1,"tweetType":1,"viewCount":2565,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":137,"xxTargetLangEnum":"ZH_CN"},"commentList":[{"id":7485544,"commentId":"7485544","gmtCreate":1655547728923,"gmtModify":1655547729908,"authorId":3499694095427461,"author":{"id":3499694095427461,"idStr":"3499694095427461","authorId":3499694095427461,"name":"南宁樱花","avatar":"https://static.tigerbbs.com/1dd3d0afee656a995a7127a11bc70e25","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":689689071,"objectIdStr":"689689071","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"<span 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