NO.PZ2020042003000034
问题如下：
The following statements are reasons why
positive feedback trading exists, except for which?
选项：
A.
Because of trend trading, investors buy when
asset price appears to be trending up and sell when it appears to be trending
down.
B.
Stop-loss rules can lead to
positive feedback trading.
C.
Predatory trading is one of
the reasons that lead to positive feedback trading.
D.
Hedging
a long option position (call or put) can lead to positive feedback trading.
解释：
考点：对Liquidity Black Holes的理解
答案：D选项描述错误，本题选D。
解析：
当Hedge short option position时，可能会产生Positive feedback trading。
Dynamic hedging. Hedging a short option
position (call or put) involves buying after a price rise and selling after a
price decline.
B的意思不是控制交易吗？
