[合集] 做多的一个优点是，call往往比put便宜# Stock
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1 楼
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jhsph07 (银杏 - 愚公) 于 (Wed Apr 20 16:19:07 2011, 美东) 提到:
熊市里， 靠扑都贵 (high VIX )。
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aripple (aripple) 于 (Wed Apr 20 16:19:32 2011, 美东) 提到:
who told you that....
normally put is cheaper.
theta is irrelevant here,
theta is about dynamics.
your average cost is static.
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fullmargin (白浪逐沙滩) 于 (Wed Apr 20 16:19:38 2011, 美东) 提到:
不对，性浪的CALL都贵很多。
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jhsph07 (银杏 - 愚公) 于 (Wed Apr 20 16:23:48 2011, 美东) 提到:
因为大家都看好它。
在FDA event里面有时候（很少时候）会出现扑靠不均的现象， 我们就可以上下其手了
。
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guanjiu (酒倌副所) 于 (Wed Apr 20 17:38:14 2011, 美东) 提到:
Under the BS model, calls are priced higher than puts are, which is
essentially an artifact of the log normal assumption.
Real world trade prices are a whole different animal.
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jszhb (金嗓子喉宝) 于 (Wed Apr 20 17:43:48 2011, 美东) 提到:
Puts are more expensive because the specific way that market index moves.
You see the pattern of segments of convex curves. This shape represents
peoples fear of risk. When there is any sign of risk, people tend to run,
causing the steep downward movement.
Any method of hedging the downward risk will be valued by investors, who
share the dislike of risk. Puts are a great way of hedging, and thus they
are expensive. Similarly, vix future, options are also expensive because
they can also be used as hedge against risk.
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aripple (aripple) 于 (Wed Apr 20 17:59:14 2011, 美东) 提到:
of course not,
if measured by IV, whether put or call is more expensive often is
a function of moneyness,
with BS model, IV for american call/put won't match for same strike.
it also depends on moneyness.
it's not an artifact of the log normal assumption.
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guanjiu (酒倌副所) 于 (Wed Apr 20 22:39:12 2011, 美东) 提到:
LZ is clearly talking about "expensiveness" in absolute dollar terms. That
may have departed a little from a canonical interpretation of "expensiveness
" in an MFE classroom, nevertheless it is legit to our laymen. One can't
rebutt other's claim by making up his own and then shooting it down. Barking
up the wrong tree? LOL.
For what it's worth and for laughs, let's look at your definition.
===>Trivial fact. Parroting John Hull?
===>When speaking of IV, isn't BS model pressumed? Seems repetitive here.
===>I wasn't even attempting to tread the nitty gritty of real world option
pricing, as I duly recognize the lack of expertise in that regard.
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rim (可乐会捂帮帮主) 于 (Wed Apr 20 23:44:37 2011, 美东) 提到:
其实楼主根本没那么专业， 就是简单比较了一下差不多距离的call， put价格而已。
之所以会发现有时call便宜些， 是因为有的股票要发股息而已。
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jszhb (金嗓子喉宝) 于 (Thu Apr 21 08:42:05 2011, 美东) 提到:
不发股息也同样是call比put便宜啊。这个是常识啊。
jhsph07 (银杏 - 愚公) 于 (Wed Apr 20 16:19:07 2011, 美东) 提到:
熊市里， 靠扑都贵 (high VIX )。
☆─────────────────────────────────────☆
aripple (aripple) 于 (Wed Apr 20 16:19:32 2011, 美东) 提到:
who told you that....
normally put is cheaper.
theta is irrelevant here,
theta is about dynamics.
your average cost is static.
☆─────────────────────────────────────☆
fullmargin (白浪逐沙滩) 于 (Wed Apr 20 16:19:38 2011, 美东) 提到:
不对，性浪的CALL都贵很多。
☆─────────────────────────────────────☆
jhsph07 (银杏 - 愚公) 于 (Wed Apr 20 16:23:48 2011, 美东) 提到:
因为大家都看好它。
在FDA event里面有时候（很少时候）会出现扑靠不均的现象， 我们就可以上下其手了
。
☆─────────────────────────────────────☆
guanjiu (酒倌副所) 于 (Wed Apr 20 17:38:14 2011, 美东) 提到:
Under the BS model, calls are priced higher than puts are, which is
essentially an artifact of the log normal assumption.
Real world trade prices are a whole different animal.
☆─────────────────────────────────────☆
jszhb (金嗓子喉宝) 于 (Wed Apr 20 17:43:48 2011, 美东) 提到:
Puts are more expensive because the specific way that market index moves.
You see the pattern of segments of convex curves. This shape represents
peoples fear of risk. When there is any sign of risk, people tend to run,
causing the steep downward movement.
Any method of hedging the downward risk will be valued by investors, who
share the dislike of risk. Puts are a great way of hedging, and thus they
are expensive. Similarly, vix future, options are also expensive because
they can also be used as hedge against risk.
☆─────────────────────────────────────☆
aripple (aripple) 于 (Wed Apr 20 17:59:14 2011, 美东) 提到:
of course not,
if measured by IV, whether put or call is more expensive often is
a function of moneyness,
with BS model, IV for american call/put won't match for same strike.
it also depends on moneyness.
it's not an artifact of the log normal assumption.
☆─────────────────────────────────────☆
guanjiu (酒倌副所) 于 (Wed Apr 20 22:39:12 2011, 美东) 提到:
LZ is clearly talking about "expensiveness" in absolute dollar terms. That
may have departed a little from a canonical interpretation of "expensiveness
" in an MFE classroom, nevertheless it is legit to our laymen. One can't
rebutt other's claim by making up his own and then shooting it down. Barking
up the wrong tree? LOL.
For what it's worth and for laughs, let's look at your definition.
===>Trivial fact. Parroting John Hull?
===>When speaking of IV, isn't BS model pressumed? Seems repetitive here.
===>I wasn't even attempting to tread the nitty gritty of real world option
pricing, as I duly recognize the lack of expertise in that regard.
☆─────────────────────────────────────☆
rim (可乐会捂帮帮主) 于 (Wed Apr 20 23:44:37 2011, 美东) 提到:
其实楼主根本没那么专业， 就是简单比较了一下差不多距离的call， put价格而已。
之所以会发现有时call便宜些， 是因为有的股票要发股息而已。
☆─────────────────────────────────────☆
jszhb (金嗓子喉宝) 于 (Thu Apr 21 08:42:05 2011, 美东) 提到:
不发股息也同样是call比put便宜啊。这个是常识啊。