. (option) - . , , . , - - .
, "" - , . , -": , , , .. , (). , .
, , "" (option call); , , "" (option put).
, , "" (strike price), (exercise price).
, , (expiration date), .
, . , , .
11.9.1. ""
"" , . : XYZ. , 1000 XYZ. XYZ - 100 . . , XYZ , "" XYZ.
"" XYZ XYZ . , "" XYZ 100 . . , "" XYZ 100 . 10 . , 1000 XYZ ( 100000 .) 10000 . .
"" , . , , XYZ, . 100000 . "" , , . , 500 . 100000 .
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|
. 11.2 "" , . , . "" XYZ, - .
11.2. "":
"" | ||
100000 1 500 | 1000 XYZ 100000 . 1 10000 . |
, . , 5000 ., 5000 . , , 5000 "", . 100 ., 95 ., 5 . , . "" , .
11.4 |
, 1000 XYZ 10 . 20%. " ""? |
11.9.2. ""
8, , . , , . - - , . "" , .
20 , Risky Realty. , , . , , . 10 ., , , 15 .
, , 6% , , . , 15% . 611003 5.
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, "" 600000 . , - , (, 6% 8% ) - , , , (, 15 . 8 .), 600000 . .