You can pair up call and put warrants with a similar stike price. Buy doing so, you have a chance to reap a reasonable return no matter if the market swings up or down.
More experienced investors may choose to buy a call and a put with a shorter maturity (say, around 1 month) to capture the potential big moves of the underlaying in the near term. What they are eyeing is not the profit arising from the increase in implied violatity. Rather, it is the potentially huge gain from one of the two expiring warrants following the sharp changes in the undrlying price, which should be more than enough to cover all the costs and make a good profit.
戚茜航
找到资料了, 原文如下, 有心者可自己琢磨.
In Rollercoaster Market:
You can pair up call and put warrants with a similar stike price. Buy doing so, you have a chance to reap a reasonable return no matter if the market swings up or down.
More experienced investors may choose to buy a call and a put with a shorter maturity (say, around 1 month) to capture the potential big moves of the underlaying in the near term. What they are eyeing is not the profit arising from the increase in implied violatity. Rather, it is the potentially huge gain from one of the two expiring warrants following the sharp changes in the undrlying price, which should be more than enough to cover all the costs and make a good profit.
这就是著名的马鞍组合理论, 专门用于对付上蹿下跳的猴市的. 他的特点就是, 不管是上蹿还是下跳, 都能获利, 安安静静的市场反而不能获利.
只是点理论探讨, 不是让大家随便去冒险的啊.