期权,期货及其衍生品第11弹.pptVIP

Options, Futures, and Other Derivatives, 8th Edition, Copyright ? John C. Hull 2012 Strategies to be Considered Bond plus option to create principal protected note Stock plus option Two or more options of the same type (a spread) Two or more options of different types (a combination) Options, Futures, and Other Derivatives, 8th Edition, Copyright ? John C. Hull 2012 * Principal Protected Note Allows investor to take a risky position without risking any principal Example: $1000 instrument consisting of 3-year zero-coupon bond with principal of $1000 3-year at-the-money call option on a stock