博迪投资学第九版课件Chap020.ppt

20-* Table 20.3 Value of a Straddle Position at Option Expiration 20-* Figure 20.9 Value of a Straddle at Expiration 20-* Spreads A spread is a combination of two or more calls (or two or more puts) on the same stock with differing exercise prices or times to maturity. Some options are bought, whereas others are sold, or written. A bullish spread is a way to profit from stock price increases. 20-* Table 20.4 Value of a Bullish Spread Position at Expiration 20-* Figure 20.10 Value of a Bullish Spread Position at Expiration 20-* Collars A collar is an options strategy that brackets the value