1. Mhedziso yeOptions Trading
1.1. Muchidimbu Kupfupisa kweSarudzo Kutengeserana
Options wokutengesera itsika yezvemari inosanganisira zvibvumirano zvinopa muridzi kodzero, asi kwete chisungo, kutenga kana kutengesa chinhu chiri pasi pamutengo chaiwo mukati meimwe nguva yakatarwa. Izvi zvinhu zvepasi zvinogona kubva kubva mumatanda uye zvisungo to kuchinjana-traded mari (ETFs) nezvimwe zviridzwa zvemari. Sarudzo dzinowanzo shandiswa semidziyo yekufungidzira, kugadzira mari, uye ngozi manejimendi nekuda kwekuchinjika kwavo kwekuzvarwa.
Muchidimbu, kune marudzi maviri ekutanga esarudzo zvibvumirano: sarudzo dzekufona uye isa sarudzo. Sarudzo yekufona inopa muridzi wayo kodzero yekutenga iyo iri pasi nemutengo wakatarwa, unozivikanwa semutengo wekuramwa, sarudzo isati yapera. Kune rimwe divi, sarudzo yekuisa inobvumira muridzi wayo kutengesa iyo iri pasi pemutengo wekuramwa mukati menguva yakatarwa. Kusiyana nekutenga zvakananga masheya, sarudzo dzinopa kuwedzera, kugonesa traders kudzora huwandu hwakakosha hweasset kune yekutanga diki inivhesitimendi. Nekudaro, iyi vhezheni inosuma zvese mikana nenjodzi, zvichiita kuti zvive zvakakosha kune traders kuve nekunzwisisa kwakadzama kwekuti sarudzo dzinoshanda sei.
1.2. Kutsanangura Pfungwa yePortfolio Hedging
Portfolio hedging itsika yekushandisa zviridzwa zvemari, senge sarudzo, kudzikisira kana kumisa njodzi dzine chekuita neinvestment portfolio. Nepo kudyara mari mumisika kunosanganisira njodzi, hedging yakagadzirirwa kuchengetedza kukosha kwemidziyo kubva kune kwakashata kufamba kwemusika, sekudonha kusingatarisirwe kana kushanduka kwakapinza. Panzvimbo pekutarisa kugadzira purofiti, hedging ine chinangwa chekudzikamisa kurasikirwa kunogona kuitika, kuve nechokwadi chekuti iyo portfolio yese inoramba yakagadzikana kunyangwe panguva yekusagadzikana kwemusika.
Semuyenzaniso, muzvinashamari ane podfolio yemasheya anogona kunetsekana nekuderera kwemusika kuri kuuya. Kuti avhare njodzi iyi, mushambadzi anogona kutenga sarudzo dzekuisa, izvo zvaizowedzera kukosha kana mitengo yemasheya ichidonha, zvichibatsira kudzikisira kurasikirwa kubva kune stock holdings. Nepo hedging isingabvisi njodzi dzese, inopa dziviriro kubva kuzviitiko zvisingafungidzike, zvichiita kuti vanoisa mari kuchengetedza mari yavo panguva yakaoma yemusika.
1.3. Kukosha kweSarudzo Kutengeserana kweRisk Management
zvinobudirira kutarisira ngozi kwakakosha pakubudirira kwekudyara kwenguva refu. Kunyangwe akanyatsotsvakurudzwa uye akasiyana mapotfolio anogona kutarisana nekurasikirwa kukuru nekuda kwe Misika kusagadzikana, zviitiko zvezvematongerwo enyika, kana matambudziko ehupfumi. Apa ndipo panove sarudzo yekutengesa inova chishandiso chakakosha chekugadzirisa njodzi. Nekubatanidza sarudzo mukudyara kwakakura nzira, vanoisa mari vanogona kuzvidzivirira zvirinani kubva kumisika yakashata vachiramba vachiratidzira kune zvingango wanikwa.
Sarudzo dzinopa zvakasiyana-siyana zve nzira kutarisira uye kuderedza njodzi. Semuenzaniso, kushandisa kuisa sarudzo kunogona kuita senzira yeinishuwarenzi, kuchengetedza portfolio kubva mukurasikirwa kukuru pasina chikonzero chekubvisa midziyo. Uyezve, nzira dzesarudzo dzakadai sekutengesa mafoni akavharwa anogona kusimudzira kudzoka nekugadzira imwe mari pane iripo kubata. Iko kuchinjika kwesarudzo kunobvumira vanoisa mari kuti vagadzirise zvinzvimbo zvavo sezvo mamiriro emusika anochinja, zvichivapa kutonga kukuru pamusoro pemapotfolio avo. Munguva yekusagadzikana kwemusika kwakawedzera, sarudzo dzekutengesa dzave chinhu chakakosha kune vanoisa mari vari kutsvaga kudzikamisa kudzoka kwavo uku vachidzikisa njodzi.
| chidimbu | Nheyo dzinokosha |
|---|---|
| Mhedziso yeOptions Trading | Kutengeserana kwesarudzo kunosanganisira zvibvumirano zvinopa kodzero yekutenga kana kutengesa asset nemutengo wakatemerwa mukati menguva yakatarwa. Pane mhando mbiri huru dzesarudzo: kufona sarudzo uye kuisa sarudzo. |
| Portfolio Hedging | Portfolio hedging inoshandisa zviridzwa zvemari senge sarudzo kudzikisa kana kumisa njodzi dzine chekuita neportfolio, ichidzivirira kubva kune kwakashata kufamba kwemusika. |
| Kukosha kweRisk Management | Sarudzo chishandiso chakakosha chekugadzirisa njodzi, kubatsira vanoisa mari kuchengetedza mapotifoliyo avo kubva mukurasikirwa, kuwedzera kudzoka, uye kupa shanduko mukupindura shanduko yemusika. |
2. Kunzwisisa Sarudzo Zvibvumirano
2.1. Basics of Call uye Isa Options
Pamwoyo wekutengesa sarudzo kune marudzi maviri akakosha ezvibvumirano: sarudzo dzekufona uye isa sarudzo. Chimwe nechimwe chezvibvumirano izvi chinoshanda chinangwa chakasiyana uye chinopa vanoisa mari nemikana yakasiyana yepurofiti uye manejimendi enjodzi.
A kusarudzika sarudzo chibvumirano chinopa mutengi kodzero, asi kwete chisungo, kutenga chinhu chiri pasi pamutengo wakatarwa, unonzi mutengo wekurova, kondirakiti isati yasvika zuva rekupera. Vanodyara mari vanowanzo tenga sarudzo dzekufona kana vachifungidzira kuti mutengo weiyo iri pasi peasset uchawedzera. Nekutenga iyo sarudzo, investor anogona kubatsirwa kubva pamutengo weasset yekutenda pasina kuda kuisa mari mu asset yacho. Kana mutengo weasset ukakwira pamusoro pemutengo wekuramwa, iyo yekufona sarudzo inowedzera kukosha, ichibvumira mudzvanyiriri kushandisa sarudzo kutenga iyo asset nemutengo wakaderera kana kutengesa sarudzo nepurofiti. Zvisinei, kana mutengo weasset ukaramba uri pasi pemutengo wekurova, sarudzo inopera isina maturo, uye mubhadhari anorasikirwa chete nemari yakabhadharwa kutenga sarudzo.
Mukusiyana, a isa sarudzo inopa mutengi kodzero, asi kwete chisungo, kutengesa chinhu chiri pasi pamutengo wekuramwa kondirakiti isati yapera. Sarudzo dzekuisa dzinowanzo kutengwa nevashambadziri vanotarisira kuti mutengo weiyo asset udzike. Kana mutengo ukawira pasi pemutengo wekuramwa, iyo yekuisa sarudzo inowana kukosha, ichibvumira mutyairi kuti atengese asset nemutengo wepamusoro wekuramwa kana kutengesa iyo sarudzo pachayo nepurofiti. Kana mutengo weiyo asset ukaramba uri pamusoro pemutengo wekuramwa, sarudzo inopera isina kukosha, uye kurasikirwa kwemubhadharisi kunogumira kune iyo premium yakabhadharwa.
Zvese zviri zviviri kufona uye kuisa sarudzo zvinopa yakasarudzika nzira dzevanoisa mari kuti vatore mari pakufamba kwemitengo mumusika uku vachidzikamisa njodzi yavo yekudzika kune iyo premium yakabhadharwa kune sarudzo.
2.2. Sarudzo maPrimiyamu, Mitengo yekuramwa, uye mazuva ekupera
Matemu mazhinji akakosha anotsanangura chimiro chesarudzo chibvumirano: the shoma, mutengo wekurova, uye zuva rekupera. Kunzwisisa mazwi aya kwakakosha kune wese anotarisa trade Zvisarudzo.
The premium sarudzo ndiwo mutengo uyo mutengi wesarudzo anobhadhara kune mutengesi. Iyi premium inomiririra mutengo wekuwana kodzero dzakatsanangurwa muchibvumirano chesarudzo. Kune vatengi, iyo premium ndiyo yakawanda yakawanda yavanogona kurasikirwa nayo kana sarudzo ikapera isina maturo, nepo kune vatengesi (vanozivikanwa sevanyori vekusarudza), mubhadharo unomiririra mari yavanowana mukutsinhana nekutora chisungo chinogoneka chekondirakiti.
The mutengo wekurova ndiwo mutengo wakafanotemerwa paunogona kutengwa asset yepasi (munyaya yesarudzo yekufona) kana kutengeswa (munyaya yesarudzo yekuisa). Mutengo wekuramwa ndicho chinhu chakakosha pakuona purofiti yesarudzo. Semuenzaniso, sarudzo yekufona inoita purofiti, kana "mumari," kana mutengo wemusika wechinhu chiri pasi uchipfuura mutengo wekuramwa. Sezvineiwo, sarudzo yekuisa inoita pundutso kana mutengo wemusika ukawira pasi pemutengo wekuramwa.
The zuva rekupera ndiyo nguva yekupedzisira iyo sarudzo inofanira kushandiswa, kana kuti inopera. Sarudzo dzinowanzo kurongedzerwa nenguva dzadzo dzekupera: sarudzo dzenguva pfupi (nekupera kwemazuva mashoma kana mavhiki), uye sarudzo dzenguva refu, dzakadai seLEAPS (Long-Term Equity Anticipation Securities), inogona kuve nekupera kwenguva kusvika makore akati wandei. Kana sarudzo ichisvika pakupera kwayo, kukosha kwayo kunowedzera kuchinjika, kunyanya sezvo ichiswedera pamutengo wekuramwa.
2.3. Iko Intrinsic uye Extrinsic Kukosha kweSarudzo
Kukosha kwesarudzo kunotemwa nezvikamu zviviri: kukosha kwemukati uye extrinsic value (inozivikanwawo semutengo wenguva). Izvi zvinhu zviviri zvinosanganisa kuona mutengo wakakwana kana premium yesarudzo chero nguva.
The kukosha kwemukati yesarudzo inoreva huwandu hwepurofiti yaizoonekwa kana sarudzo ikashandiswa nekukasira. Kune yekufona sarudzo, kukosha kwemukati kunoverengerwa semutsauko uripo pakati pemutengo wazvino weasset yepasi uye mutengo wekurova (kana iyo asset iri kutengeserana pamusoro pemutengo wekuramwa). Kana iyo yepasi asset iri kutengeserana pazasi pemutengo wekuramwa, iyo yekufona sarudzo haina kukosha kwemukati. Kune yekuisa sarudzo, kukosha kwemukati kunotarwa nemusiyano uripo pakati pemutengo wekuramwa nemutengo wezvino weasset (kana iyo asset iri kutengeserana pazasi pemutengo wekuramwa). Sarudzo ine kukosha kwemukati inonzi "mumari."
Extrinsic value, kune rumwe rutivi, chikamu chemutengo wesarudzo inodarika kukosha kwayo kwemukati. Izvi zvinowanzonzi nguva yakakosha yesarudzo, sezvo inoratidza kukwanisa kwechisarudzo chekuwedzera mukukosha kusati kwapera. Zvinhu zvinopa ukoshi hwekunze zvinosanganisira nguva yasara kusvika sarudzo yapera uye kushanduka kwechinhu chiri pasi. Iyo yakawanda nguva yasara uye yakakwirira inotarisirwa kushanduka, iyo yakakura kukosha kwekunze kwesarudzo.
Sezvo sarudzo inosvika zuva rayo rekupera, kukosha kwayo kwekunze kunowanzo kuderera, chiitiko chinozivikanwa se. nguva yekuora. Nechikonzero ichi, sarudzo dziri kure nekupera kwenguva uye dzinosanganisira kusagadzikana pasi pezvinhu zvinowanzova nemaprimiyamu epamusoro.
| chidimbu | Nheyo dzinokosha |
|---|---|
| Basics of Call uye Isa Options | Sarudzo dzekufona dzinopa kodzero yekutenga asset nemutengo wakatarwa, nepo kuisa sarudzo dzichipa kodzero yekutengesa. Purofiti inoenderana nekufamba kwemutengo weasset. |
| MaPrimiyamu, Mitengo yekuramwa, Mazuva ekupera | Option premiums inobhadharwa nevatengi kune vatengesi. Mitengo yekuramwa inoona pundutso, uye mazuva ekupera anotsanangura hupenyu hwekondirakiti. |
| Intrinsic uye Extrinsic Value | Intrinsic value inomiririra purofiti yazvino yesarudzo, nepo extrinsic value inoratidza nguva uye kushanduka kwezvinhu zvinopa kukosha kwesarudzo. |
3. Common Option Strategies for Hedging
Kuvharidzira kuburikidza nesarudzo kunobvumira vanoisa mari kuchengetedza mapotifolio avo kubva pakurasikirwa kungangove vachichengetedza kuratidzwa kune zvingangowanikwa. Nekushandisa nzira dzakananga, vanoisa mari vanogona kuderedza njodzi ine chekuita nekufamba kwakashata kwemusika. Muchikamu chino, isu tichaongorora mamwe eanonyanya kushandiswa sarudzo nzira dzekuvharira, kusanganisira yakavharwa mafoni, anodzivirira anoisa, makora, straddles uye strangles, uye musanganiswa.
3.1. Yakavharwa Kufona
3.1.1. Mashandiro Anoita Mafoni Akavharwa
A kufona kwakavharwa izano rinosanganisira kubata chinzvimbo chakareba muchitoro panguva imwe chete uchitengesa (kunyora) sarudzo yekufona pane imwechete stock. Iye investor anounganidza premium kubva pakutengesa kufona sarudzo, iyo inopa mari yekukurumidza. Mukutsinhana, mushambadzi anobvuma kutengesa masheya pamutengo wekurova kana sarudzo ichiitwa. Iri zano rinoonekwa se "rakafukidzwa" nekuti investor atova muridzi weiyo asset, saka kana iyo yekufona sarudzo ikashandiswa, investor anogona kuendesa zvikamu pasina kuzvitenga mumusika wakavhurika.
Mafoni akavharwa anowanzo shandiswa nevashambadziri vane mwero bhizinesi pane stock asi vasingatarisire yakakosha mutengo wekutenda munguva pfupi. Nekunyora kufona, mudzvanyiriri anogona kuunza mari yakawedzerwa kubva paprimiyamu, iyo inobatsira kumisa chero inogona kuderera mumutengo wemasheya.
3.1.2. Shambadzirovantages uye Disadvantages
Imwe yemashambadziro makuruvantages yeyakavharwa yekufona zano ndeyekuti inobvumira vanoisa mari kuti vaunze imwe mari kubva kune yavo stock holdings pasina kuvatengesa. Mari yakagamuchirwa kubva pakutengesa kufona inogona kupa cushion pakudzikira kudiki kwemutengo westock. Iri zano rinogonesawo vanoisa mari kuti vatore mari panguva dzekuderera kwekusagadzikana, sezvo maprimiyamu esarudzo anowanzo kwira apo mutengo wemasheya unotarisirwa kuramba wakagadzikana.
Nekudaro, iyo yakavharwa yekufona zano inewo painogumira. Kana mutengo wematengo uchikwira zvakanyanya pamusoro pemutengo wekurova, mutyairi anosungirwa kutengesa masheya pamutengo wekurova, zvichigona kushaikwa kune imwe pfuma. Pamusoro pezvo, kana mutengo wemasheya wakadzikira zvakanyanya, mari yaunowana kubva pakutengesa kufona inogona kunge isingakwani kuti ibvise kurasikirwa mumutengo wemasheya.
3.1.3. Nguva Yokushandisa Mafoni Akavharwa
Kufona kwakavharwa kunonyanya kushanda kana investor akabata stock yavanotenda kuti icharamba yakagadzikana kana kuwedzera zvine mwero mukukosha. Iri zano rakanakira kugadzira mari mumisika yakatsetseka kana yakapfava. Vagadziri vemari vanogona kushandisa nhare dzakavharwa kana vachitarisira kushomeka kwepamusoro mukana uye vakasununguka nekuvhara zvavanowana pamutengo wekuramwa. Pamusoro pezvo, zano iri rinogona kushandiswa nevanogara kwenguva refu vatengesi vachitsvaga kusimudzira kudzoka kwavo pasina kutengesa masheya avo.
3.2. Dziviriro Inoisa
3.2.1. Mashandiro Anoita Dziviriro
A protective put izano rekuti investor anobata chinzvimbo chakareba mustock uye otenga yekuisa sarudzo pane imwechete stock. Iyo yekuisa sarudzo inopa mudzvanyiri kodzero yekutengesa masheya pamutengo wakagara watemerwa, ichipa kudzivirira kwakadzika kana mutengo wemasheya ukawira pasi peiyo level. Mupfungwa iyi, inodzivirira inoisa inoshanda seinishuwarenzi mutemo kune investor's stock holdings.
Iyo inodzivirira yakaiswa inzira yakanakisa kune vanoisa mari vari bullish pane yenguva refu tarisiro yemasheya asi vane hanya nekugona kuderera kwenguva pfupi. Nokutenga iyo yekuisa sarudzo, mutyairi anovimbisa kuti vanogona kutengesa masheya pamutengo wekurova, zvisinei kuti mutengo wemusika ungadonha sei.
3.2.2. Shambadzirovantages uye Disadvantages
Yekutanga advantage yekudzivirira kuisa zano ndeyekuti inopa unlimited upside kugona uku ichidzikamisa njodzi. Kana mutengo wemasheya uchikwira, mutyairi anobatsirwa zvizere kubva mukuonga, nepo kana mutengo wemasheya uchiderera, iyo yekuisa sarudzo inopa dziviriro. Iyo yekuisa sarudzo inoshanda seyakachengeteka mambure, ichibvumira mudzvanyiriri kubatirira pane stock kunyangwe panguva yekusagadzikana.
Nechekudzika, kutenga kuisa sarudzo kunoda kuti investor abhadhare premium, iyo inogona kuderedza kudzoka kwese kana mutengo wemari usingadzike. Kana mutengo wemari ukaramba wakagadzikana kana uchikwira, mudzvanyiriri anogona kurasikirwa nemari yakabhadharwa yekuisa pasina kuwana imwe bhenefiti kubva pane iyo sarudzo. Pamusoro pezvo, mutengo wekuisa unogona kuve wakakosha kana investor achiwanzoshandisa zano iri.
3.2.3. Nguva Yekushandisa Dziviriro Inoisa
Dziviriro inoisa inonyanya kubatsira kune vanoisa mari muzvitoro kwenguva yakareba asi vanoda kungwarira kusasimba kwenguva pfupi kana kuderera kwemusika. Iri zano rinonyanya kukodzera kana investor achitarisira kuti stock inogona kusangana nekushaya simba kwenguva pfupi asi inoramba ichivimba mune yayo yakareba tarisiro. Dziviriro inoisa inogona zvakare kushandiswa pamberi pezviitiko zvikuru zvemusika kana mishumo yemuhoro kana kusavimbika kwakakwira.
3.3. Makora
3.3.1. Mashandiro Anoita Makorasi
A collar izano rinosanganisira kubata chinzvimbo chakareba mustock, kutenga chinodzivirira, uye kutengesa runhare rwakavharwa pastock imwechete. Iyo inodzivirira inoisa inodzika pasi njodzi, nepo yakavharwa runhare ichidzikamisa iyo yakakwira mukana asi ichiburitsa mari yeprimiyamu kudzikamisa mutengo wekuisa. Mhedzisiro ndeye "collar" iyo inovharira huwandu hunogona kuita purofiti uye kurasikirwa mukati memazinga akatemerwa.
Iri zano rinoshandiswa zvakanyanya nevashambadziri vanoda kudzikamisa yavo yekudzika nenjodzi uye nepamusoro pekuwana kwavo. Mari inowanikwa kubva mukutengesa sarudzo yekufona inobatsira kudzikamisa mutengo wekutenga iyo yekuisa sarudzo, zvichiita kuti kora ive nzira inodhura yekuvharisa chinzvimbo.
3.3.2. Shambadzirovantages uye Disadvantages
Iyo collar strategy inopa bhenefiti yekuvharira pakatarisana nenjodzi yakaderera asi zvakare ichidhura pane kungotenga chinodzivirira. Nekuti iyo premium kubva kune yakavharwa kufona inobatsira kudzikamisa mutengo wekuisa, iyo mambure mutengo weheji inoderedzwa. Iri zano rinobatsira kune vanoisa mari kutsvaga nzira yakadzikama yekutonga njodzi nemubairo.
Nekudaro, sekufona kwakavharwa, iyo collar zano inomisa kumusoro kugona. Kana mutengo wemasheya uchikwira zvakanyanya, mudzvanyiriri anozofanirwa kutengesa masheya pamutengo wekurova wesarudzo yekufona, achirasikirwa nekuwedzera kuwana. Pamusoro pezvo, iyo collar zano inogona kuda kwakawanda manejimendi uye kugadzirisa, kunyanya sezvo mazuva ekupera kwenguva aswedera.
3.3.3. Nguva Yokushandisa Makora
Makora akanyatsokodzera kune vanoisa mari vane hanya nezvekugona kwestock yekuderera kwekufamba asi vasingade kubhadhara yakakwira premium yekudzivirira. Iri zano rinowanzo shandiswa nevanogara kwenguva refu vatengesi vari kutsvaga kudzoka zvine mwero asi vachidzivirira kubva pakurasikirwa kukuru. Iri zvakare zano rinoshanda panguva yekusagadzikana kwemusika kana kusagadzikana kunotarisirwa asi mudzvanyiriri achiri kuda kuchengetedza kuratidzwa kune stock.
| chidimbu | Nheyo dzinokosha |
|---|---|
| Yakavharwa Mafoni | Kutengesa yekufona sarudzo uchibata pasi pasi kuti uwane mari. Inoshanda zvakanyanya mumisika yakapfava kana yakapfava. |
| Dziviriro Inoisa | Kutenga yekuisa sarudzo yekudzivirira kubva kune yakaderera njodzi paunenge wakabata stock. Inobatsira kune-refu-bullish vatengesi vanonetsekana nezve pfupi-nguva kusagadzikana. |
| Collars | Kubatanidza inodzivirirwa yakaiswa neyakavharwa kufona kudzikamisa zvese zviri pasi njodzi uye kumusoro kugona. Inokodzera kutonga zvine mwero njodzi. |
4. Zvinhu Zvokufunga nezvazvo Paunenge Uchisarudza Sarudzo Strategy
Kusarudza nzira yesarudzo yehedgeging inoda kunyatsotarisisa zvinhu zvakati wandei. Izvi zvinhu zvinobatsira kuona zano rakakodzera rinobva pane zvibodzwa zvemuridzi, kushivirira njodzi, uye maonero emusika. Ichi chikamu chinoongorora zvakakosha senge portfolio kuumbwa, kushivirira njodzi, maonero emusika, uye mutengo-kubatsirwa. ongororo.
4.1. Portfolio Maumbirwo: Mastock, Bond, ETFs, nezvimwe.
Chinhu chekutanga chekufunga kana uchisarudza sarudzo sarudzo ndiko kuumbwa kwepodfolio yako. Makirasi akasiyana-siyana akadai sematokisi, zvisungo, uye ETFs ane mazinga akasiyana ekusagadzikana uye njodzi, iyo inokanganisa kusarudzwa kwesarudzo sarudzo. Semuenzaniso, masheya anowanzo shanduka kupfuura zvisungo, uye nekudaro, mutengesi anogona kusarudza mamwe maitiro ane hutsinye, akadai sekudzivirira anoisa kana straddles, kuti avhare stock-heavy portfolio. Kune rumwe rutivi, kune mapotfolio anobata musanganiswa wezvisungo uye ETFs, iyo inowanzove yakagadzikana, mazano akaita semakororo kana nhare dzakavharwa angave akakodzera zvikuru sezvo akagadzirirwa kutarisira mwero wepakati wengozi.
Uyezve, kuti liquidity yemidziyo iri mupotfolio inoita basa rakakosha pakuona zano rinonyanya kushanda. Kana iyo yepasi asset iine hombe yekutengesa vhoriyamu uye yakasimba bhidhi-kubvunza yakapararira, sarudzo dzesarudzo dzinogona kuve dzinodhura-inoshanda. Sezvineiwo, illiquid assets inogona kutungamira kune yakakwira mutengo wekutengesa uye slippage, zvichiita kuti dzimwe nzira dzesarudzo dzisashande.
4.2. Kushivirira Njodzi: Ndeipi Njodzi Yaunoda Kugamuchira?
Kunzwisisa yako wega njodzi kushivirira kwakakosha pakusarudza sarudzo sarudzo. Vamwe vatengesi vane kushivirira kwepamusoro kwengozi uye vanoda kubvuma kushanduka kwenguva pfupi mukutsinhana kwezvingabvira zvenguva refu. Vamwe vangasarudza kutora imwe nzira yekuchengetedza, vachitarisa pakuchengetedza mari kunyangwe zvichireva kupira zvimwe zvinogoneka.
Kune vanoisa njodzi-vanovenga vatengesi, nzira dzakadai sedziviriro inoisa kana makora akanaka, sezvo ivo vachidzikamisa pasi vachiri kubvumira kumwe kutora chikamu mukumusoro. Aya mazano anopa runyararo rwepfungwa panguva dzekusagadzikana kwemusika nekuona kuti kurasikirwa kunovharirwa pamwero wakatemerwa. Sezvineiwo, vanoisa mari vane njodzi yakanyanya kushivirira vanogona kusarudza nzira dzakaita senge straddles kana strangles, izvo zvinovatendera kuti vawane pundutso kubva kune yakakosha kushanduka kwemusika asi zvakare kuvafumura kune yakakwira yekurasikirwa kana musika ukaramba wakagadzikana.
Pakupedzisira, zano rakakodzera rinofanira kuenderana neyako njodzi profiles. Kana iwe usina kugadzikana nepfungwa yekurasikirwa inopfuura imwe muzana yepotfolio yako, zvakakosha kusarudza nzira dzehedhi dzinopa dziviriro yakakodzera.
4.3. Market Outlook: Bullish, Bearish, kana Neutral?
Maonero ako emberi kwemusika gwara anoita basa rakakosha mukuona yakanakisa sarudzo zano. Kunyangwe iwe uri bullish, bearish, kana kwawakarerekera pamusika kana munhu wega asset, akasiyana marongero akagadzirwa kuti awane mari pane aya maonero uchidzikisa njodzi.
Kana uri bullish pamusika kana pamusika zvakazara, nzira dzakaita senhare dzinovharwa kana kupararira kwenzombe dzingave dzakakodzera. Mafoni akavharwa anobvumidza iwe kuunza mari mumisika ine hunyoro bhizinesi, nepo nzombe inopararira inogona kudzikisira pasi njodzi kana musika ukafamba uchipikisana newe. Kune vatengesi vari bearish, zvinodzivirira zvinoisa kana kupararira kwebheya zvinopa nzira dzekuita purofiti kubva kumusika uri kuderera kana kudzivirira nzvimbo dziripo kubva mukurasikirwa. Dziviriro inoisa inobvumira vanoisa mari kuti vagadzire pasi nekuda kwekurasikirwa kwavo, nepo kupararira kwebheya kunopa mikana ine hukasha yekuita pundutso kubva mukuderera kukuru kwemusika.
For a pakati nepakati maonero, kwaunotarisira kufamba kushoma pamusika, mazano senge makora kana mapfupi straddles / strangles anogona kushanda. Aya mazano anokubvumira kutora advantage yekushaikwa kwekusagadzikana, kungave nekuwana mari kubva mukutengesa zvingasarudzwa (semunguva pfupi) kana nekudzikamisa njodzi yepasi uchibvuma kuvharirwa kumusoro (sezvakaita makora).
4.4. Mutengo-Benefit Ongororo: Kuyera Zvinogona Kubatsira Zvichienderana Nemitengo.
Yese sarudzo sarudzo ine mutengo wakabatana nayo, ingave iyo premium inobhadharwa kutenga sarudzo kana mukana wemutengo wecapped upside kugona. Kuita ongororo yemutengo webhenefiti kwakakosha kuti uve nechokwadi chekuti zano rakasarudzwa rinopa mwero unodiwa wekudzivirira kana kudzoka uchiramba uchidhura.
Semuyenzaniso, nzira dzakaita sedziviriro dzinopa dziviriro yakadzika pasi, asi mutengo wekutenga unoisa unogona kudya mukudzoka kwese, kunyanya kana kudzikira kwemusika kusingaite. Mumamiriro ezvinhu akadaro, mushambadzi anofanirwa kuyera kana mutengo weiyo yakaiswa premium inoruramiswa nerunyararo rwepfungwa rwainopa.
Kune rimwe divi, nzira dzakaita senhare dzakavharwa dzinounza mari kuburikidza nemaprimiyamu anogamuchirwa ekutengesa sarudzo, asi anodzikamisa mukana wepamusoro. Vagadziri vemari vanofanira kusarudza kana mari inowaniswa ichipfuura zvingango wanikwa zvavanogona kupotsa kana iyo pfuma yakakwira zvakanyanya.
Mamwe mazano akaomarara, senge makora, anosanganisira zvese kutenga nekutengesa sarudzo, izvo zvinogona kuderedza mutengo weti asi zvakare kudzikisira purofiti. Naizvozvo, kusarudzwa kwemaitiro kunofanirwa kuve kwakavakirwa pakunyatsoongorora kweiyo trade-offs pakati pekudzikisa njodzi uye mutengo.
| chidimbu | Nheyo dzinokosha |
|---|---|
| Portfolio Kuumbwa | Musanganiswa wemasheya, mabhondi, uye maETF mune yako portfolio inokanganisa sarudzo yesarudzo nzira zvichienderana nekusagadzikana uye njodzi. |
| Risk Kushivirira | Kushivirira kwenjodzi kunokanganisa sarudzo. Conservative investimendi vangasada zvidziviriro zvinoisa, nepo avo vane njodzi yakanyanya kushivirira vanogona kusarudza mamwe maitiro ane hukasha senge straddles. |
| Musika Wemaonero | Iyo nzira inoenderana nekuti iwe unotarisira kuti musika usimuke (bullish), kudonha (bearish), kana kuramba wakagadzikana (usina kwawakarerekera). |
| Mutengo-Bhenefiti Kuongorora | Weresa mitengo yemaprimiyamu esarudzo uye purofiti inogona kurasika uchipesana nemabhenefiti eheji uye kuderedza njodzi. |
5. Mienzaniso Inoshanda Yesarudzo Hedging
Kuvhara nesarudzo inzira inoshanda yekugadzirisa njodzi mumhando dzakasiyana dzemapotifolio uye mamiriro emusika. Kuti tinzwisise zvirinani kuti sarudzo dzinoshanda sei sematurusi ekuhedhera, ngationgororei akati wandei-chaiwo-yepasirese mienzaniso, kusanganisira hedging chaiyo stock zvinzvimbo, akasiyana mapotifolio, kushata kwemusika, uye njodzi yemubereko.
5.1. Hedging a Specific Stock Position
Fungidzira mutengesi ane zvikamu zveimwe kambani, semuenzaniso, Apple (AAPL). Iye investor anotenda mune yenguva refu yekukura tarisiro yekambani asi ari kunetsekana nekusagadzikana kwenguva pfupi nekuda kweinotevera mihoro mishumo. Kuti udzivirire kubva pakudonha kamwe kamwe mumutengo wemasheya, mutengesi anogona kutenga a protective put.
Semuenzaniso, kana Apple's stock iri kutengeserana pamadhora zana nemakumi mashanu, investor anogona kutenga yekuisa sarudzo nemutengo wekurova wemadhora zana nemakumi mana. Iyi yekuisa sarudzo inopa mutengesi kodzero yekutengesa masheya pamadhora zana nemakumi mana, kunyangwe mutengo wemusika ukawira pasi peyero iyoyo. Kana mutengo weApple wadonha kusvika kumadhora zana nemakumi matatu, iyo inodzivirira inova nechokwadi chekuti investor anogona kuramba achitengesa zvikamu pamadhora zana nemakumi mana, zvichideredza kurasikirwa. Mutengo wedziviriro iyi ndiyo premium inobhadharwa yesarudzo yekuisa, asi inopa runyararo rwepfungwa nekuvhara njodzi yakadzika.
Rudzi urwu rweruzhowa runowanzo shandiswa kana vatengesi vakabata zvinzvimbo zvakakura muzvitoro zvega uye vachida kuchengetedza kubva pakurasikirwa kwepedyo-nguva pasina kutengesa masheya.
5.2. Kudzivirira Diversified Portfolio
Kune vatengesi vane podfolio yakasiyana-siyana inosanganisira mashizha akasiyana-siyana, mabhondi, uye ETFs, nzira yakakura yekudzivirira inodiwa. Imwe nzira yakakurumbira ndeyekushandisa index options seruzhowa. Semuenzaniso, munhu anodyara mari ane mapotifolio akasiyana-siyana anogona kushandisa S&P 500 index options (SPX) kuvharira kuderera kwemusika.
Kana mushambadzi akabata portfolio inonyatso tevera iyo S&P 500, vanogona kutenga kuisa sarudzo paS&P 500 index. Kana musika ukasangana nekuderera kwakakosha, kukosha kwekuisa sarudzo kuchakwira, kubvisa kurasikirwa mupodfolio. Iyi nzira inonyanya kushanda kana investor achitenda kuti musika wese ungangodonha, pane kungoita masheya ega.
Semuenzaniso, panguva yekusagadzikana kwehupfumi kana kusagadzikana kwezvematongerwo enyika, mutengesi anogona kutarisira kuti musika wese uchadzikira. Nekutenga S&P 500 yekuisa sarudzo, ivo vanowana dziviriro kune yavo yese portfolio pane kuve neruzhowa zvinzvimbo. Iyi nzira inobvumira nzira yakafara, inodhura-inoshanda yekugadzirisa njodzi yepasi pamapotifolio akasiyana.
5.3. Hedging Against Market Volatility
Kusagadzikana kwemusika kunogona kupa zvese mikana nenjodzi, kunyanya kune vanoisa mari vari pachena nekukurumidza kushanduka kwemitengo. Munhu anodyara mari anogona kuvharidzira kusagadzikana uku achishandisa zano rinozivikanwa sea straddle or kudzipwa. Aya marongero anosanganisira kutenga zvese kufona uye yekuisa sarudzo ine zuva rimwechete rekupera asi pamwe chete (straddle) kana akasiyana mitengo yekurova (strangle).
Semuyenzaniso, ngatitii investor anotarisira kuwedzera kusagadzikana muTesla (TSLA) stock pamberi pekutanga kwechigadzirwa chikuru asi asina chokwadi chekuti stock ichasimuka here kana kudonha. Muridzi anogona kushandisa straddle nekutenga zvese sarudzo yekufona uye yekuisa sarudzo pamutengo wemasheya we, toti, $800. Kana iyo stock ikaita yakakosha kufamba munzira ipi neipi, mibairo kubva kune imwe yesarudzo inobvisa kurasikirwa kubva kune imwe, uye investor anowana purofiti kubva kune yakawedzera kusagadzikana.
Muzviitiko apo mushambadzi anotenda kuti mutengo wemasheya uchafamba zvakanyanya asi vasina chokwadi chegwara, zano iri rinovabvumira kuti vabatsirwe kubva kune zvakakosha mutengo mafambiro apo vachidzivirira pane zvisingatarisirwe mhedzisiro.
5.4. Hedging Kupesana Nekufarira Rate Ngozi
Kuchinja kwemari yemubereko kunogona kukanganisa zvikuru mapotfolio, kunyanya ayo ane mari yakagadzika securities semabhondi. As interest rate kusimuka, mitengo yezvisungo inowanzodonha, izvo zvinogona kuguma nekurasikirwa kwevanoisa mari vakabata zvisungo kana ma bond-ane ETFs. Kudzivirira njodzi iyi yemubereko, investor anogona kushandisa zvingasarudzwa pamusoro pemubereko weramangwana or bond ETFs.
Semuenzaniso, kana mutyairi akabata chikamu chezvisungo uye achitarisira kuti mitengo yemubereko ichakwira, vanogona kutenga kuisa sarudzo pane bond ETFs, senge iShares 20+ Year Treasury Bond ETF (TLT). Kana mibairo ichikwira zvechokwadi, kukosha kwechisungo ETF kungangoderera, asi iyo yekuisa sarudzo ichawedzera kukosha, kuripa kurasikirwa mupotfolio.
Neimwe nzira, investor anogona kuvharira achishandisa sarudzo pane remangwana remari. Nekutenga kunoisa kune Treasury ramangwana kana zvimwe zvinobva mubereko remubereko, mubhadharisi anogona kuvhara njodzi yekukwira kwemitengo. Iri zano rinonyanya kubatsira kune hombe masangano anoisa mari kana avo vakafumurwa zvakanyanya kune yakatarwa-inowana mari.
| chidimbu | Nheyo dzinokosha |
|---|---|
| Hedging a Specific Stock Position | Dziviriro inoisa inogona kukomberedza kurasikirwa kwenguva pfupi mumasheya ega pasina kutengesa chinzvimbo. |
| Kudzivirira Diversified Portfolio | Kushandisa indekisi sarudzo (semuenzaniso, S&P 500 isa sarudzo) inogona kuvharira portfolio yese kutarisana nekudzikira kwemusika. |
| Hedging Kupesana Nemusika Volatility | Straddles uye strangles hedge kupesana nekusagadzikana, zvichibvumira vanoisa mari kuti vawane pundutso kubva kune yakakosha kushanduka kwemitengo mune chero nzira. |
| Hedging Kupesana Nekufarira Rate Ngozi | Isa sarudzo pa bond ETFs kana mubereko weramangwana unodzivirira panjodzi yekukwira kwemhindu, izvo zvinokanganisa bond portfolios. |
6. Njodzi uye Kufunga
Nepo nzira dzekusarudza hedging dzinopa vanoisa mari maturusi akakosha ekugadzirisa njodzi dzepodfolio, ivo vanouyawo neavo seti yezvinetso uye zvinogona kuderera. Kunzwisisa njodzi idzi kwakakosha pakuita sarudzo dzine ruzivo uye nekunyatso batanidza sarudzo muhurongwa hwekudyara. Muchikamu chino, tichaongorora njodzi dzakakosha uye kufunga kunosanganisirwa mukushandisa sarudzo dzeheji.
6.1. Sarudzo maPrimiyamu: Mutengo weHedging
Chimwe chezvipingamupinyi zvekutanga zvekushandisa sarudzo dzehedging mutengo une chekuita nekutenga sarudzo, inozivikanwa se shoma. Kana varimi vatenga sarudzo, vanosungirwa kubhadhara mari yekutanga, inomiririra kurasikirwa kwakanyanya kunogona kuitika kana sarudzo ikapera isina kukosha. Semuenzaniso, kana mushambadziri akatenga inodzivirira yekuisa sarudzo yekudzivirira kuderera kwemutengo westock, iyo premium inobhadharwa yesarudzo mutengo wakanyura. Kana mutengo wemari ukaramba wakagadzikana kana uchikwira, sarudzo inopera isina maturo, uye mubhadhari anorasikirwa nemari yakabhadharwa nokuda kwechisarudzo.
Mari yekuwedzera yekudzokorodza kutenga sarudzo dzehedge portfolio inogona kuwedzera nekufamba kwenguva, kunyanya kana musika usingafambi sezvaitarisirwa. Naizvozvo, vanoisa mari vanofanirwa kuyera mutengo wemaprimiyamu vachipesana nedziviriro yavanopa. Mune zvimwe zviitiko, mutengo wehedhi unogona kuderedza zvakanyanya kudzoserwa kwese, kunyanya munguva dzekuderera kwekusagadzikana kana musika usingarevedzere kazhinji kutenga sarudzo.
6.2. Kuora Kwenguva: Kurasikirwa Kwesarudzo Kukosha Kwenguva
Imwe pfungwa huru yekufunga kana uchishandisa sarudzo dzehedging ndeye nguva yekuora, inozivikanwawo se theta. Sezvo zuva rekupera kweimwe sarudzo richiswedera, kukosha kwesarudzo kunowanzodzikira, kunyanya kana mutengo weasset ukaramba uri kure nemutengo wekuramwa. Nguva ino kuora imhaka yekuderera kwemukana wekuti sarudzo ichaita pundutso isati yapera.
Kune hedgers, kuora kwenguva kunogona kuva nyaya inokosha. Kana munhu anodyara mari achitenga sarudzo dzekudzivirira pakudzikira kwemutengo weasset, uye asset ikaramba yakagadzikana, kukosha kwesarudzo kunopera nekufamba kwenguva, kunyangwe njodzi yekudonha kwemutengo ichiramba. Izvi zvinogona kunyanya kuodza mwoyo kune vanoisa mari vane hanya nezvenjodzi dzenguva refu dzemusika asi vanoona kushomeka kwenguva pfupi. Mumamiriro ezvinhu akadaro, sarudzo inogona kurasikirwa nehuwandu hwekukosha kwayo isati yagona kupa dziviriro ine revo, ichiita hedge inodhura.
6.3. Basa reNjodzi: Ngozi yekupihwa iyo Yepasi Asset
Vagadziri vanotengesa sarudzo sechikamu chemaitiro avo ekuvhara, senge mufoni yakavharwa kana collar zano, vanotarisana nenjodzi basa. Kugoverwa kunoitika kana mutengi wesarudzo achishandisa kodzero yake yekutenga kana kutengesa iyo iri pasi peiyo asset, achimanikidza mutengesi wesarudzo kuzadzisa zvisungo zvekondirakiti. Semuenzaniso, mune yakavharwa yekufona zano, kana mutengo wemasheya ukakwira pamusoro pemutengo wekurova wesarudzo yekufona, sarudzo mutengi anogona kufona, ichida kuti mutengesi ape zvikamu pamutengo wakabvumiranwa.
Ngozi yekupihwa inogona kunetsa kana investor asingadi kutengesa iyo iri pasi peasset, kunyanya kana iyo asset yakakwira zvakanyanya mukukosha. Mamiriro ezvinhu aya anoita kuti mutyairi arege zvimwe zviwanikwa zvaigona kuwanikwa dai vakabatirira pachinhu chacho. Uyezve, kugoverwa kunogona kuitika chero nguva isati yapera, zvichiwedzera kusava nechokwadi kune nguva yekutengeserana.
6.4. Liquidity Risk: Njodzi Yekuomerwa muKutenga kana Kutengesa Sarudzo
Dambudziko remvura inoreva njodzi yekuti investor angatarisana nedambudziko mukutenga kana kutengesa sarudzo nemitengo yakanaka nekuda kwekuderera kwekutengesa vhoriyamu kana yakakura bhidhi-kubvunza kupararira. Misika yeIlliquid sarudzo inogona kukonzera mutengo wepamusoro wekutengesa uye kutsvedza, izvo zvinogona kudzikisira kushanda kweiyo hedging zano. Kana sarudzo iri mutete traded, mushambadzi angangofanira kubvuma mutengo wakaderera kupinda kana kubuda pachinzvimbo, kukanganisa purofiti inogona kuitika kana kuwedzera mitengo.
Dambudziko remvura rinonyanya kutaurwa mune zvisinganyanyi kufarirwa kana hunyanzvi sarudzo, senge dziri pamasheya madiki kana niche ETFs. Vagadziri vemari vanodzivirira kushandisa sarudzo dzakadaro vanogona kuwana zvakaoma kuita yavo trades pamutengo waunoda, kunyanya panguva dzekusagadzikana kwakanyanya apo misika iri kufamba nekukurumidza. Nechikonzero ichi, vatengesi vazhinji vanosarudza kuvharira nesarudzo pazvinhu zvine mvura yakawanda, senge index sarudzo kana sarudzo pahombe-cap stocks, uko kune kwakajairika huwandu hwekutengesa hwakakwana kuti ive nechokwadi chemakwikwi emitengo uye inobudirira. trade kuurayiwa.
| chidimbu | Nheyo dzinokosha |
|---|---|
| Option Premiums | Mutengo wesarudzo, unozivikanwa semaprimiyamu, unogona kuderedza kudzoka kwese, kunyanya kana sarudzo dzapera pasina. |
| Kuora Kwenguva | Kuora kwenguva kunoderedza kukosha kwezvisarudzo sezvo kupera kwemazuva kunoswedera, kunyanya kana mutengo weasset usingafambi zvakanyanya. |
| Basa Rengozi | Vatengesi vesarudzo vanotarisana nenjodzi yekupihwa iyo iri pasi peasset, izvo zvinogona kuvamanikidza kutengesa kana kutenga nemitengo isingafadzi. |
| Liquidity Risk | Kuderera kwemari mune dzimwe sarudzo kunogona kuita kuti zviome kutenga kana kutengesa zvinzvimbo nemitengo yakanaka, zvichiwedzera mutengo wekutengesa. |
7. Mazano eKubudirira Option Hedging
Kushanda sarudzo hedging haingoda kunzwisisa kwakasimba kwemaitiro esarudzo asiwo kuronga kwakaringana, kuranga, uye kuenderera mberi kwekutarisa. Heano mamwe matipi anoshanda ekubatsira vanoisa mari kubudirira nesarudzo hedging, kunyanya kana uchigadzirisa njodzi mukati mepodfolio.
7.1. Tanga Zvidiki: Tanga neChidiki Chemari Yemari
Kune vanoisa mari patsva kusarudzo dzekutengesa kana hedging, zvine hungwaru kutanga zvishoma. Sarudzo dzinogona kuve dzakaoma uye dzinotakura njodzi dzakakura, saka zvakakosha kuti uwane ruzivo usati waita chikamu chikuru chemari yako. Kutanga nenhamba shoma yezvibvumirano zvinokutendera kuti uedze nzira dzakasiyana uye unzwisise kuti sarudzo dzinopindura sei kune akasiyana musika mafambiro pasina kuisa njodzi kurasikirwa kukuru.
Nekutanga kugovera chikamu chidiki chepodfolio yako kune zvingasarudzwa, unogona zvishoma nezvishoma kuvaka hunyanzvi hwako uye chivimbo. Sezvo iwe uchiwedzera kugadzikana nemakanika esarudzo dzekutengesa uye maitiro eakasiyana mazano, unogona kukwirisa mari yako.
7.2. Zvidzidzise Pachako: Dzidza NezveSarudzo Kutengeserana uye Risk Management
Kutengeserana kwesarudzo kunowanzoonekwa sekwakaomarara kupfuura kuisirwa mari kwechinyakare nekuda kwezvikonzero zvakawanda zvinopesvedzera mitengo yesarudzo, sekusagadzikana, kuparara kwenguva, uye mitengo yekurova. Naizvozvo, dzidzo kwakakosha. Vasati vanyura muurongwa hwekuzvivharira, vanoisa mari vanofanira kutora nguva yekunzwisisa pfungwa dzakakosha semhando dzemitengo, maGreek (anoyera kunzwisiswa kwezvinhu zvakasiyana), uye njodzi dzakanangana nemaitiro akasiyana.
Kune zvakawanda zviwanikwa zviripo, zvinosanganisira mabhuku, makosi epamhepo, uye musika simulators, izvo zvinogona kubatsira kudzamisa kunzwisisa kwako. Pamusoro pezvo, kudzidzira nekutengesa mapepa (kutevedzera kutengeserana) kunogona kukupa ruzivo-pane ruzivo pasina njodzi yekurasikirwa chaiko. Nekudyara mudzidzo yako, unenge wakashongedzerwa zvirinani kuita sarudzo dzine ruzivo uye kushandisa nzira dzekuvharira dzinoenderana nekushivirira kwako njodzi uye zvinangwa zvekudyara.
7.3. Shandisa Stop-Loss Order: Chengetedza Mubairo Wako uye Muganho Kurasikirwa
A kurega-kurasika odha iodha yakafanotsanangurwa yekutengesa asset kana yasvika padanho remutengo, zvichidzikamisa kurasikirwa kungangoitika. Nepo kumira-kurasikirwa maodha achiwanzo shandiswa mukutengesa masheya, anogona zvakare kuve chinhu chakakosha mukutengesa sarudzo uye hedging. Mumamiriro ezvinhu esarudzo, kumira-kurasikirwa kwemirairo kunogona kubatsira kudzivirira kurasikirwa kwakanyanya kana musika ukafamba uchipikisana newe.
Semuyenzaniso, kana iwe wakatenga inodzivirira inoisa seheji uye iyo iripasi yemidziyo inofamba ichienda nenzira isingafadzi, kumira-kurasikirwa kwekuraira kunogona kuvhara chinzvimbo kusati kwakura. Izvi zvinokubvumira kuti uende kunze trade nekurasikirwa kwakanyanya kudzorwa, kudzivirira kumwe kuderera. Saizvozvo, kumira-kurasikirwa maodha anogona kushandiswa kuchengetedza zvakawanikwa nekutengesa sarudzo kana musika wasvika padanho rinoita mhindu, kuvharira mukuwana uye kuderedza njodzi yekudzokera shure.
7.4. Tarisa Zvinzvimbo Zvako: Gara Wongorora Zvako Sarudzo Positions
Hedging ine sarudzo inoda inoshanda manejimendi. Mamiriro emusika anogona kuchinja nekukurumidza, zvichikanganisa kukosha kwesarudzo dzako uye nekubudirira kweiyo hedging zano. Naizvozvo, zvakakosha kuti ugare uchiongorora zvigaro zvako uye uzvigadzirise sezvinodiwa.
Kuongorora nzvimbo dzako dzesarudzo kunosanganisira kuramba uine ziso pazvinhu zvakakosha sekusagadzikana, kuora nguva, uye kufamba kwechinhu chiri pasi. Kana musika ukachinja munzira isingatarisirwe, ungangoda kugadzirisa yako hedging zano kuti uratidze zvirinani mamiriro matsva. Semuenzaniso, kana stock yauinayo yafamba zvakanyanya, ungangoda kutenderedza yako sarudzo pamutengo mutsva wekuramwa kana zuva rekupera kuti uchengetedze kuvharika kunoshanda.
Uyezve, sezvisarudzo pedyo nekupera, kukosha kwavo kunogona kuderera nekukurumidza nekuda kwekuora kwenguva. Mumamiriro ezvinhu akadaro, zvakakosha kuongorora kuti zvine musoro here kurega sarudzo dzichipera, kudzidzira, kana kuvhara chinzvimbo nekukurumidza. Kunyatsotarisisa kunobatsira kuve nechokwadi chekuti sarudzo dzako dziri kushanda nemazvo kuheja portfolio yako.
| chidimbu | Nheyo dzinokosha |
|---|---|
| Tanga Small | Tanga nenhamba diki yemakontrakiti esarudzo kuti uwane ruzivo uye kuderedza njodzi usati wawedzera mari yako. |
| Zvidzidzise | Chengetedza mari mukudzidza nezve sarudzo dzekutengesa, manejimendi enjodzi, uye akakosha pfungwa senge sarudzo yemitengo uye maGreek. |
| Shandisa Stop-Loss Order | Shandisa kumira-kurasikirwa mirairo kuchengetedza purofiti uye kudzikisira kurasikirwa kunogona kuitika, kunyanya mumisika isingachinjiki. |
| Tarisa Nzvimbo Dzako | Gara uchiongorora uye gadzirisa nzvimbo dzako dzesarudzo kuti uone kuti dzakaenderana nemamiriro emusika aripo uye zvinangwa zvako zvekuvharira. |
mhedziso
Sarudzo hedging inopa vanoisa mari maturusi ane simba ekudzivirira ma portfolio avo kubva kunjodzi dzakadzika vachiri kutora chikamu mune zvingango wanikwa. Nekushandisa nzira dzakasiyana-siyana dzesarudzo - senge nhare dzakavharwa, inodzivirira inoisa, makora, uye straddles - vatengesi vanogona kunyatso gadzirisa kusavimbika uye kusagadzikana kwemisika yemari. Aya mazano anobvumira vanoisa mari kuti vadzivirire kuderera kwemasheya ega ega, kudzikira kwemusika wakawanda, kuderera kwemitengo yemubereko, uye nguva dzekusagadzikana, zvichipa runyararo rwepfungwa uye kuderedza mukana wekurasikirwa kukuru.
Nekudaro, yakabudirira sarudzo hedging inoda kunyatsoronga, dzidzo, uye kuranga. Kunzwisisa mechanics ezvibvumirano zvesarudzo - senge maprimiyamu, mitengo yekurova, mazuva ekupera kwenguva, uye emukati uye ekunze kukosha kwesarudzo - kwakakosha pakuita maitiro ehedhi zvinobudirira. Pamusoro pezvo, zvinhu zvakaita senge portfolio kuumbwa, maonero emusika, uye kushivirira njodzi zvinofanirwa kutariswa kusarudza nzira yakakodzera kune yega yega yega yega mamiriro emari.
Izvo zvakakoshawo kuziva njodzi dzinowanikwa mukutengesa sarudzo, senge mutengo wemaprimiyamu, kuora nguva, njodzi yekugoverwa, uye matambudziko emari. Njodzi idzi dzinosimbisa kukosha kwekuenzanisa mitengo yehedhi nemabhenefiti ayo, kuve nechokwadi chekuti nzira dzesarudzo dzinodhura uye dzinoenderana nekugara kwenguva refu. zvinangwa zvemari.
Kune vatsva vanoisa mari, kutanga vadiki, vachiramba vachizvidzidzisa, uye kugara vachitarisa zvinzvimbo ndiwo matanho akakosha ekuona budiriro yehedgeging. Sezvo vanoisa mari vachiwana ruzivo rwakawanda, vanogona kukwirisa mashandisiro avo esarudzo uye kukwenenzvera nzira dzavo kuti dzienderane nekuchinja kwemamiriro emusika uye nhoroondo dzenjodzi.
Mukupedzisa, nepo sarudzo hedging inogona kuve yakaoma, inopa inoshanduka uye ine simba nzira yekugadzirisa njodzi yepodfolio. Nekubatanidza nzira idzi mubhokisi ravo rekushandisa rekudyara, vanoisa mari vanogona kufamba mumisika isina chokwadi nechivimbo chakanyanya, vachiziva kuti vane mambure ekuchengetedza panzvimbo yekurerutsa kurasikirwa kungangove vachibvumira mikana yekukura.
