D**********d
发帖数: 849 | 1 如果在 40 加仓(same size), 不是也可以在 45 时回本吗?
当然, 买卖股票的成本与 options 的成本不一样,
但是 options 的 commission 也贵啊
这个策略实质上是 Bull Call(40,45) Spread + Covered Call(45)
50块 |
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j***b
发帖数: 5901 | 2 You call spread will lose huge.
If you cover your calls with stock, then you will sacrifice huge profit. It'
s the same. |
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j***b
发帖数: 5901 | 3 This bird won't fly even theoretically.
The basic philosophy is wrong. The strategy is based on the assumption that
the stock will suck for the duration of the calls. If so, why don't you
simply close the position?
You hold on to the position because you hope it will bounce back. When it
does, the call spread will only lose money. |
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j***b
发帖数: 5901 | 4 Because your calls may have long expiration, if the stock bounces to 45 very
shortly, your call spread may have almost no profit at all.
. |
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c**y
发帖数: 419 | 5 这个期权组合will never lose ! 因为我选择买卖/的call, 使得成本几乎相抵.
如果正股下跌, 期权组合盈亏=0,
如果正股上涨, 正股抵消期权组合的损失.
我想那张图已经很清楚了吧, 怎么还会有人说这个期权组合+正股的组合 会lose.只有
继续下跌,
正股继续lose
stock
the
worthless,
more,
small and will turn negative once the stock price goes above 43 or
something. The profit from the call spread is going to be very very
little. |
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g****u
发帖数: 695 | 6 just think from another angle:
Besides making yourself feel better, what's the point to leave
a bad trade there and hope for break-even? What's so important
to be break-even for a single trade?
Now, if it works, I got a way to make money. I will find those
post-crashing stocks, and buy the stocks, buy the spread, sell
the covered call. Then while somebody quickly breaks even, I
quickly make profit. Do you really think it is a sound strategy?
. |
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j***b
发帖数: 5901 | 7 You still don't get it right? A short term 小反弹 will cost you money if you
use the call spread, because it has negative delta. |
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D**********d
发帖数: 849 | 8 你说的这个是 covered call 部分, 不是 Bull Spread 部分 |
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g****u
发帖数: 695 | 9 see, that's the thing.
你把“回本”看得很重，重到了不计风险代价的地步。
每一个 option strategy 都有 good side 和 bad side。能让你不到成本价
就回本是你的 good side, 放弃了 upside 却保留了 downside 是你的 bad
side. 从理论上来说，当 options fairly valued 的时候，你的 good side
和 bad side 是平衡的。你 enter the spread 无非是给你的 portfolio 引入
了新的 risk/reward profile，并不能挽救你那股票暴跌已经造成的损失。 |
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c**y
发帖数: 419 | 10 我不完全赞同你的观点, 保留downside是对的, 但是没有牺牲upside, 因为
我反复说过了,我可以另外建立新的仓位做多.
我原来也觉得期权是fair value的, zero game, 不过现在觉得搞这些zero cost,或者
credit spread好像还是可行的.
直接搞正股, 亏起来也很恐怖. |
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j***b
发帖数: 5901 | 11 Lol. You have really low expectation haven't you.
You can try what if it goes to 45 after four month. I believe you will win a
little money but just a little.
You have a very short window, both in time and in stock price, for you to
benefit significantly from this call spread. |
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g****u
发帖数: 695 | 12 你另外建舱位，如果是 stock，你就同时引入了 upside and downside，跟你现有
的舱位没有什么关系。你可以买 call，这样只有 upside 没有 downside，of course
with a cost of the premium，但是那就抵消了你卖的 covered call，改变了
你本来的 strategy. 你可以说用不同的 expiry/strike。但是 at the end of
the day，你搞得再复杂，无非就是在 play with the risk/reward profile.
说白了，你能靠 option 做的无非就是拆东墙补西墙，不能改变你买错了股票并且已经
在亏损的现实。
我告诉你，期权 at the best 是 fair value，实际上算上 bid/ask spread
根本就是个 sucker's game。你说的 zero cost 根本就不是 zero cost，你放
弃了你本来 underlying 的 upside 这本身就是一个 cost。如果没有 underlying
在那里，你这个组合的风险大了去了。... 阅读全帖 |
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c***y
发帖数: 286 | 13 Well, I think buying a collar to protect the further downside makes more
sense than buying call spread to catch the upside. |
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w******s
发帖数: 16209 | 14 after the underlying drop big?
I think maybe beter to do some short put instead of call spread to utilize
the increased put IV in a sudden drop. |
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b*****2
发帖数: 651 | 15 操作过分复杂往往赔钱, 尤其是stock/option price spread大的话.理论上可行的需要
符合条件时需要机器操作，否则价位大幅波动时必然输. |
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G*******m
发帖数: 16326 | 16 如果VIX要升高，calendar spread |
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G*******m
发帖数: 16326 | 17 calendar put debit spread. |
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G*******m
发帖数: 16326 | 18 Sold 5 IWM 0630 $79 put。
Hope that we can establish a free (or paid) calendar debit spread later. |
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b******u
发帖数: 3215 | 19 多谢虎哥,今天卖了几个covered call 和spread，
卖了call的钱没有加到账面上，gain/loss上反而显示是loss了一些钱，不知道怎么回事 |
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m******1
发帖数: 86 | 20 Hi, folks:
plan to load google weekly (due july 22) put spread (put 600/595). currently
cost 3.8. want to get some input before execution.
reason:
Macro: US/euro debt issue.
Micro: outburst ER last Friday, no more good news
Tech: high volume last trading day and stock cool down today with slight
decrease in stock price.
thanks for your help! |
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o**y
发帖数: 3065 | 21 A rising TED spread often presages a downturn in the U.S. stock market, as
it indicates that liquidity is being withdrawn. |
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B********0
发帖数: 472 | 22 跟2008年相比，even thought it is hiking, the current TED spread is still
insignificant to have any meaningful impact. |
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m********0
发帖数: 2717 | 23 if you buy 45/50 spread,
it ends at 44.90 at 16:00 (official settlement time).
but it's traded at 45.50 aft-mkt.
you have too choice, exercise call if you missed the chance to
buy it at 44.90 before close(suppose it traded above 45 all the time
after hour) and carry the position till monday(even it's not suggested).
or you can sell at 45.50 and exercise the call to lock in $0.50 *profit*(
might be a lose trade in total).
That's the reason I said this short time window is good thing. |
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m********0
发帖数: 2717 | 24 no, say you bought 5 spreads.
short side is far OTM.
long side is ATM.
sell 500 shares and exercise all ATM options(or even slightly OTM if you
missed the chance but still want to recover some).
it will cancel out each other with 100% probability. |
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l*********g
发帖数: 1154 | 25 Nov19 82.5/87.5 call spread, expect it to stay above 87.5 before nov 19,
make $1.5 out of $3.5 investment |
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k********8
发帖数: 7948 | 26 TED Spread继续大幅收窄
银行间借贷活跃，流通充裕，风险受到喜好！！ |
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k********8
发帖数: 7948 | 27 TED Spread突然跳涨3.5%
当心！！ |
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h*****8
发帖数: 4754 | 28 是不是出了换一个别的CALL SPREAD更好呢？ |
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j****9
发帖数: 2295 | 29 有个5个put credit spread，不知道被assign的可能性有多大。已经in the money了。
倒霉。 |
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w********2
发帖数: 16371 | 30 【 以下文字转载自 Chinook 俱乐部 】
发信人: laserdingy (star2), 信区: Chinook
标 题: Re: Just got an aapl spread (short 600 call/long 605 call)
发信站: BBS 未名空间站 (Thu Mar 22 16:00:34 2012, 美东)
around $1.7. max profit $1.7 max loss $3.3 |
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d****7
发帖数: 2241 | 31 How to do the spread in IB? Thanks. |
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c*******y
发帖数: 1630 | 33 kid,
I had far more academic and hand on experience than you ever think.
you learn options from such amateur website?
I knew wiki uses bull spread. |
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L****n
发帖数: 12932 | 34 first of all, don't call me kid if don't actually know me. Unless u want to
be called a moron like the other guy.
Nobody gives a crap about how academic or authentic. I'm just refer u to a
page where people do use the term "bull call spread". So either u failed
your school or your textbook need to be updated:-) |
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p**8
发帖数: 3883 | 35 你知道圣经中把你的“bull call spread” 叫什么？
你知道村长说的 “伊藤润二” 吗？？
无论炒股 还是 吵架， 你那点水平一边 呆着 去！！ |
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p**8
发帖数: 3883 | 36 不知使何路神仙？
圣经上，的确不叫 “bull call spread”。 |
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G*******m
发帖数: 16326 | 37 5 bearish put spread.
long put part closed several days ago, profit $1,000
short put part still open, profit $200, maximum potential $1,400
who pa who a. |
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G*******m
发帖数: 16326 | 38 谁说的，bearish put spread，就是要赢一腿，输一腿的？ |
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W******r
发帖数: 789 | 39 option的bid-ask spread通常都很大，有时候有几毛钱。大家都是怎么处理的？ |
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G*******m
发帖数: 16326 | 40 考考你们，昨天为什么要买31日和2月的IWM，put spread ?
有人可以解释一下吗？ |
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G*******m
发帖数: 16326 | 41 今天买了APA，77.5，4月和7月，的CALL SPREAD。 |
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r***e
发帖数: 1840 | 42 大牛求解释，为什么有时候会出现big bid/ask spread after closing.
比如close at 30 盘后涨0.5 但是ask在35, bid在28。没事调个高单玩？ |
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M*****t
发帖数: 1842 | 43 which stock?
some stock have bigger spread |
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a****g
发帖数: 8131 | 44 这个, spread不是由broker决定的吧 |
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l******n
发帖数: 9344 | 45 broker自己赚钱呀，流量越大spread越小 |
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h*****e
发帖数: 3624 | 46 他家什么时候er啊。。。
没有april 15的options啊
可能是spread很大，其实应该还是在2.5 |
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s***m
发帖数: 6197 | 47 敲错了
April 14
刚才在thinkorswim上搞了半天
这货不让我以2.7来卖vertical spread
这种情况只能手动买卖single来操作了 |
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t*********3
发帖数: 4304 | 48 你以为我在是说瞎话？
这个方法我自己用过，不过后来就不用了。原因不是因为不work，而是因为太累，这种
spread出现的根本原因是流动性不好。而流动性不好是交易的大忌。 |
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n***t
发帖数: 8357 | 49 opend on Jan 09, closed today
$3.5k per spread.
It's pretty good in 2015.
That's Sell Apr contract and Buy Dec contract. |
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n***t
发帖数: 8357 | 50 opened on Feb 24.
这个礼拜今天第一次看，居然$3K PER SPREAD。
WK， FEEL LUCKY. |
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