NO.PZ2018113001000071
问题如下：
Adonis who owns ABC shares, is now worried about the stock's decline, so he wanted to build a protective put strategy. The stock is currently trading at $38 a share, a put option with strike price of $33 is sold for $1.2.
Calculate the maximum loss and breakeven price for this strategy:
选项：
A.
maximum loss ：-6.2,breakeven price 39.2
B.
maximum loss ：1.8,breakeven price 39.2
C.
maximum loss ：4.2,breakeven price 36.8
解释：
A is correct
中文解析：
本题考察的是protective put策略。
计算最大损失，带入公式 Maximum loss= X-S0 -P0 = $33 − $38 -$1.2 = - $6.2.
计算均衡点，带入公式Breakeven price = S0 + p0 = $38 + $1.2=$39.2.
我靠最大loss选对的。breakeven point列公式算对了，但是自己有点儿懵，靠脑子想又错了。
