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加加D asked in 商業與財經投資 · 1 decade ago



●So, it's going to be worth a lot more than this one was down here because we're at the money.

●Any little jostle upward is going to put it in the money.

●There's a big chance that this will become in the money, so it has real value; whereas, down here, the option doesn't have much value because it would take a big price move to put it in the money.

●Let's say, at this point, when the stock price is 25, I'd rather own the option than to own a share minus $20 because the option can't fail me as much as the share can.

●The share minus $20 could be negative in value before the exercise date, but the worst that can happen to my option is it would be worth nothing





1 Answer

  • 丘引
    Lv 6
    1 decade ago
    Favorite Answer

    因為履約價在價平(at the money即市價與履約價相同),所以它(本論述以買進買權為例)會比履約價小的價位高。 當股價稍微往上漲一點,此(價平)履約價就進入價內(in the money)。 它進入價內的機會很大,所以已具有真正的價值。至於低於此的履約價,價格就不那麼高了,因為要進入價內還需要漲一大段。 在此,假設現股股價25元,股價將跌20元,則寧願作選擇權(買進買權)而不買進現股,因為選擇權不會虧損如現股那麼多。 現股跌20元時,在結算日(the exercise date)前,買現股已處虧損,但選擇權最壞的狀況則是選擇權無執行價值(損失權利金)。

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