《第9章　期权的交易策略》.pptVIP

Trading Strategies Involving OptionsChapter 9 Three Alternative Strategies Take a position in the option and the underlying Take a position in 2 or more options of the same type (A spread) Combination: Take a position in a mixture of calls puts (A combination) Positions in an Option the Underlying (Figure 9.1, page 186) Profit ST K Profit ST K Profit ST K Profit ST K (a) (b) (c) (d) Bull Spread Using Calls(Figure 9.2, page 187) K1 K2 Profit ST Bull Spread Using PutsFigure 9.3, page 189 K1 K2 Profit ST Bear Spread Using CallsFigure 9.4, page 189 K1