ciaoyy · 2020年04月25日
问题如下：
A portfolio manager wants to use collar strategy to manage concentrated stock potions. The manager has 400,000 shares, currently selling at $20. Put strike price is $18.5 and call strike price is $21.5. If at expiration, the stock price is $21.2, the value per share of the strategy is:
选项：
A.$21.2
B.$21.5
C.18.5
解释：
A is correct.
考点：collar
解析：
这一题问的是value，是不考虑期初构建成本的，即不考虑S0,也不考虑期权费。
到期时股票价格=21.2，此时put和call option均不执行，头寸价值即等于股票价格=21.2
看不懂答案解释，value有什么特点吗？
NO.PZ2018113001000039 问题如下 A portfolio manager wants to use collstrategy to manage concentratestopotions. The manager h400,000 shares, currently selling $20. Put strike priis $18.5 ancall strike priis $21.5. If expiration, the stopriis $21.2, the value per share of the strategy is: A.$21.2 B.$21.5 C.18.5 A is correct.考点collar解析这一题问的是value，是不考虑期初构建成本的，即不考虑S0,也不考虑期权费。到期时股票价格=21.2，此时put和call option均不执行，头寸价值即等于股票价格=21.2 这道题的value是不是在18.5和21.5之间，和图像对应的y轴范围一样？
NO.PZ2018113001000039问题如下A portfolio manager wants to use collstrategy to manage concentratestopotions. The manager h400,000 shares, currently selling $20. Put strike priis $18.5 ancall strike priis $21.5. If expiration, the stopriis $21.2, the value per share of the strategy is:A.$21.2B.$21.5C.18.5A is correct.考点collar解析这一题问的是value，是不考虑期初构建成本的，即不考虑S0,也不考虑期权费。到期时股票价格=21.2，此时put和call option均不执行，头寸价值即等于股票价格=21.2如果有任何一个option执行了，value就是执行价格，对吧？
