NO.PZ202208100100000202
问题如下：
In her statement, Minkoff is least likely correct with regard to:
选项：
A.implied volatility.
the direction and timing of a price move.
解释：
Solution
A is correct. Minkoff is incorrect in stating that calendar spreads are appropriate only if the expectation is for an increase in implied volatility. A short calendar spread is appropriate if the expectation is for a decrease in implied volatility or a big move in share prices that is not imminent. If a long calendar spread is implemented, the expectation is for a stable market or an increase in implied volatility. Minkoff is correct that a calendar spread strategy is appropriate when there is an expectation for share prices to move in a certain direction but not immediately and that such a strategy focuses on capturing the time value of stock options.
B is incorrect. Minkoff is correct about the capture of the time value of the option.
C is incorrect. Minkoff is correct about the direction and timing of the price move.
Such a strategy focuses on taking advantage of the time value decay of stock options; 这句话什么意思？calendar 不就是利用近期与长期波动的不同来做long short头寸吗，跟time value有什么关系
