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王思祺 · 2020年03月16日

问一道题:NO.PZ2018062002000020

问题如下:

Tim, an trader of an investment company trade on margin at a price of $60 per share, he purchased 300 shares of a non-dividend-paying stocks. The leverage ratio is 3. After three monthes the market price of share is $65, Tim then sells these shares. We assume that there are no transaction costs and no interests paid on the borrowed amount. Which of the following statements is correct?

选项:

A.

The return to Tim during the three-month period was 20%.

B.

The return to Tim during the three-month period was 8.33%.

C.

The return to Tim during the three-month period was 25%.

解释:

C is correct.

The equity contributed by Tim (the minimum margin requirement) is \(\frac{100\%}3=33.33\%\)

Tim contributed 33.33% of $60 per share is $20.

The return is $5$20=25%\frac{\$5}{\$20}=25\%, because the gain is 5 ($65-$60) per share

您好:1.这里面trade on margin 怎么翻译 怎么理解,是公司交保证金60,还是市场价market price 60;2.可否这样算:65到60,return是上涨了8.3%,在乘以leveraged ratio 3 ,得出25%。谢谢。

1 个答案

maggie_品职助教 · 2020年03月16日

嗨,爱思考的PZer你好:


1、trade on margin就是说T同学买股票做的是保证金交易,当前股票价格是60元每股。

2、可以。

 


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sarahjia · 2020年03月16日

请问老师33.33%是咋来的呢

maggie_品职助教 · 2020年03月16日

杠杆等于3,说明A/E=3,也就是你自己只出了1/3(33.3%),借了2/3。

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