开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

LuckyYao · 2021年03月11日

答案D

  1. FRM II
  2. Liquidity and Treasury Risk

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.

Hedging a long option position (call or put) can lead to positive feedback trading.


老师可以举例long option positon 不会导致positive feedback的例子吗

添加评论
1 个答案

品职答疑小助手雍 · 2021年03月11日

嗨，从没放弃的小努力你好：


如果你是long call option的话，要hedge 它就要short 股票。

当股价上升是，call 的delta增大，需要short更多的股票来对冲。股价下跌时delta变小，要买回来一些股票来减少short股票的头寸。

也就是涨时候要short，跌时候要被迫买。这显然不是一个positive的feedback。

----------------------------------------------
就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

  • 1

    回答

  • 0

    关注

  • 560

    浏览
相关问题

NO.PZ2020042003000034问题如下 The following statements are reasons whypositive feeatrang exists, except for which? Because of trentrang, investors buy whenasset priappears to trenng up ansell when it appears to trenngwn. Stop-loss rules cletopositive feeatrang. Pretory trang is one ofthe reasons thleto positive feeatrang. Heinga long option position (call or put) cleto positive feeatrang. 考点对Liquity BlaHoles的理解答案述错误，本题选解析当Hee short option position时，可能会产生Positive feeatrang。namic heing. Heing a short optionposition (call or put) involves buying after a pririse anselling after apricline. 求帮忙c的意思谢谢

2023-08-24 09:19 1 · 回答

NO.PZ2020042003000034问题如下 The following statements are reasons whypositive feeatrang exists, except for which? Because of trentrang, investors buy whenasset priappears to trenng up ansell when it appears to trenngwn. Stop-loss rules cletopositive feeatrang. Pretory trang is one ofthe reasons thleto positive feeatrang. Heinga long option position (call or put) cleto positive feeatrang. 考点对Liquity BlaHoles的理解答案述错误，本题选解析当Hee short option position时，可能会产生Positive feeatrang。namic heing. Heing a short optionposition (call or put) involves buying after a pririse anselling after apricline. B的意思不是控制交易吗？

2023-07-19 17:58 1 · 回答

能否请老师再讲解一下short option的hee如何导致positive trang的呀？谢谢！

2020-05-30 14:52 2 · 回答