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美股期權交易|風險控制的重要性
uSMART盈立智投 04-15 17:58

期權的風險

期權為衍生性金融商品,風險較股票高,加上期權的槓桿操作特性,如果不了解期權,操作風險遠高於股票,但操作得宜反而可能降低投資風險的工具,因此投資人需要先了解操作期權的風險,確認是否適合自己的投資屬性。

 

一般而言,期權有以下風險:

  • 期權價值隨時間遞減,最後可能歸零,與持有股票不同
  • 期權買方為槓桿操作,支付低權利金獲取較正股高的報酬,但標的走勢與預測背離時價值可能歸零
  • 期權買方虧損有限 (權利金),但看錯趨勢價值可能歸零
  • 需注意風險管控,例如可選擇認賠,提前賣出合約平倉
  • 賣出賣權獲利有限 (權利金),但標的走勢與預測背離時,虧損會不斷擴大
  • 需注意風險管控,可認賠、提前買回合約平倉,或著 Rollover 轉倉
  • 期權價格波動遠大於股票,遭遇意外的系統風險、個股標的物風險時,虧損將被放大

 

 

 

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