英文名称:Capped Option 中文名称:有上限期权指预先设定有利润上限的一种期权,当其相关证券价格等于或高于(对买入期权而言)或相等于或低于(对出售期权而言)期权上限价格时,期权将会自动被行使。An option with a pre-established profit cap. A capped option is automatically exercised when the underlying security closes at or above (for a call) or at or below (for a put) the Option's cap price. This can also be referred to as a capped-style option.
英文名称:Call Option 中文名称:看涨期权指期权的购买者有权在期权合约规定的时间内以特定的价格买入一定数量的标的物(即股票、外汇、利率等),且没有必须买入的义务。若投资者认为未来股价上涨,则可买入看涨期权。如果行权日股票价格高于期权合约约定的执行价格,持有者若行权,获得收益;如果行权日股票的价格低于期权合约约定的执行价格,持有者不会行权,此时期权价值为0。An agreement that gives an investor the right (but not the obligation) to buy a stock, bond, commodity, or other instrument at a specified price within a specific time period. It may help you to remember that a call option gives you the right to "call in" (buy) an asset. You profit on a call when the underlying asset increases in price.
英文名称:Down-and-out Option 中文名称:下跌即撤销期权一种界限期权(barrier option),在标的物价格跌破预先约定的水平后失效。A type of knock-out barrier option that ceases to exist when the price of the underlying security hits a specific barrier price level. If the price of the underlying does not reach the barrier level, the investor has the right to exercise their European call or put option at the exercise price specified in the contract. For example, a down-and-out option has a strike price of 100 and a knock-out price of 80. At the option's inception the price of the stock was 95 but before the option was exercisable the price of the stock hit 80, this means the option automatically expires worthless even if the underlying hits 100 before the exercise date.
英文名称:Double Witching 中文名称:双巫日/双约同时到期指股价指数期货合约、股价指数期权及个股期权这三种合约中的两种同时到期。Similar to triple witching, but instead of three classes of options or futures expiring on the same day, double witching is when only two classes (any two) are expiring. The three classes are stock options, index options, and index futures. In other words, this is when option contracts and futures contracts expire on the exact same day. Double and triple witching days can be volatile at times as arbitrageurs scramble to close out their positions.
英文名称:Delivery 中文名称:交割/交货将合约牵涉的商品、证券、现金或交割文件送交给合约持有人,并由合约持有人收妥,从而实现商品、证券、现金的转移。The action by which an underlying commodity, security, cash value, or delivery instrument covering a contract is tendered and received by the contract holder. Delivery can occur in option, forward, or futures contracts. In most instances, the delivery of the actual underlying is rare--contracts are typically closed before settlement.
目录 1平均履约价格期权 2Average Strike Option 平均履约价格期权 一个可以保证一段时间内,一个资产的平均付出(或获得)价格不大于最终价格的期权。这些期权都是路径相依的,因为收益取决于过期日的瞬时价格和期权有效期内生成的平均履约价格的差额。 Average Strike Option Options that can assure that the average price paid (or received) for an asset over a certain time period is not greater than the final price. These are path dependent because the payoff is based on the difference between the spot price at expiration and an average strike price determined over the life of the option. A type of Asian option in which the strike price is based on an average of the spot rate over a period of time. The dates used to calculate the average strike price cover the life of the option, and are referred to as the "fixings". When the expiration date of the average strike option is reached, the option is considered in the money if the spot rate is higher than the average strike. Most average strike options give equal weight to each day that the spot rate is checked to compute the average strike, but some versions allow the weighting to be adjusted. Investors purchase average strike options because of its relatively lower volatility when compared to non-average options, since the strike price is calculated over a period of time rather than predetermined.
An option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security at a specified price within a specified time. This is the opposite of a call option, which gives the holder the right to buy shares. A put becomes more valuable as the price of the underlying stock depreciates relative to the strike price. For example, if you have one Mar 08 Taser 10 put, you have the right to sell 100 shares of Taser at $10 until March 2008 (usually the third Friday of the month). If shares of Taser fall to $5 and you exercise the option, you can purchase 100 shares of Taser for $5 in the market and sell the shares to the option's writer for $10 each, which means you make $500 (100 x ($10-$5)) on the put option. Note that the maximum amount of potential proft in this example ignores the premium paid to obtain the put option. 看跌期权(Put Options,PUTS),也称敲出期权(Knock-out Option) 目录 1 什么是看跌期权 什么是看跌期权 看跌期权又称认沽期权、卖出期权、出售期权、卖权选择权、卖方期权、卖权、延卖期权或敲出期权:是指期权的购买者拥有在期权合约有效期内按执行价格卖出一定数量标的物的权利。
A latent option contract that begins to function as a normal option ("knocks in") only once a certain price level is reached before expiration. Technically, this type of contract is not an option until a certain price is met, so if the price is never reached it is as if the contract never existed. Knock-ins are a type of barrier option that may be either down-and-in option or an up-and-in option. 触碰生效期权是指只有在标的资产的市价触及确定的水准时期权才生效