一分钟认识期权价值的形成
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><strong style="color: blue;">期权价值的<span style="color: black;">形成</span></strong></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;">期权价值的<span style="color: black;">形成</span><span style="color: black;">是由于</span>内涵价值（Intrinsic Value）和时间价值（Time Value）两部分<span style="color: black;">构成</span>。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><span style="color: black;">文案</span><span style="color: black;">源自</span>/：<strong style="color: blue;">股指<span style="color: black;">科研</span>院</strong></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><img src="//q7.itc.cn/q_70/images01/20240417/d8af5b9d3aa54a14adb1be33a79363c2.png" style="width: 50%; margin-bottom: 20px;"></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><strong style="color: blue;"><span style="color: black;">1、</span>期权价值的<span style="color: black;">形成</span>-内涵价值（Intrinsic Value）</strong></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;">内涵价值是期权立即执行时<span style="color: black;">能够</span><span style="color: black;">得到</span>的利润。<span style="color: black;">按照</span>期权的类型，内涵价值的计算方式有所不同：</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><strong style="color: blue;">实值期权（In-the-Money）</strong>：<span style="color: black;">针对</span>实值期权，内涵价值是标的资产当前市场价格与行权价格的差额，<span style="color: black;">暗示</span><span style="color: black;">倘若</span><span style="color: black;">此刻</span>执行期权，买方<span style="color: black;">能够</span>立即实现的收益。当标的资产的市场价格高于行权价格（<span style="color: black;">针对</span>看涨期权）或<span style="color: black;">小于</span>行权价格（<span style="color: black;">针对</span>看跌期权）时，期权<span style="color: black;">处在</span>实值状态。此时，内涵价值等于标的资产价格与行权价格的差。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><strong style="color: blue;">虚值期权（Out-of-the-Money）</strong>：而<span style="color: black;">针对</span>虚值期权，内涵价值为零，当标的资产的市场价格<span style="color: black;">小于</span>行权价格（<span style="color: black;">针对</span>看涨期权）或高于行权价格（<span style="color: black;">针对</span>看跌期权）时，期权<span style="color: black;">处在</span>虚值状态。在这种<span style="color: black;">状况</span>下，立即执行期权会<span style="color: black;">引起</span>亏损。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><strong style="color: blue;">平值期权（At-the-Money）</strong>：<span style="color: black;">针对</span>平值期权，内涵价值<span style="color: black;">一样</span>是零，<span style="color: black;">由于</span>标的资产价格与行权价格相等，执行期权不会带来立即的盈利。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><img src="//q7.itc.cn/q_70/images01/20240417/a57d6769799c48a7bf8bbca1425465c4.png" style="width: 50%; margin-bottom: 20px;"></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><span style="color: black;">2、</span><strong style="color: blue;">期权价值的<span style="color: black;">形成</span>-时间价值（Time Value）</strong></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;">时间价值是期权价格中超过内涵价值的部分，它反映了期权买方因预期标的资产价格在<span style="color: black;">将来</span>可能变动而愿意支付的额外<span style="color: black;">花费</span>。时间价值受到多个<span style="color: black;">原因</span>的影响，<span style="color: black;">包含</span>剩余到期时间、标的资产价格的波动性、<span style="color: black;">没</span><span style="color: black;">危害</span>利率等。剩余到期时间越长，标的资产价格变动的可能性就越大，<span style="color: black;">因此呢</span>期权的时间价值<span style="color: black;">亦</span>就越高。<span style="color: black;">一样</span>，标的资产价格的波动性越大，期权买方<span style="color: black;">得到</span>潜在利润的机会<span style="color: black;">亦</span>就越大，时间价值<span style="color: black;">亦</span>会相应<span style="color: black;">增多</span>。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><strong style="color: blue;">期权报价</strong></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;">期权的报价由内涵价值和时间价值<span style="color: black;">一起</span>决定。<span style="color: black;">因此呢</span>，<span style="color: black;">咱们</span><span style="color: black;">能够</span>得到以下公式：</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><strong style="color: blue;">实值期权报价</strong>：等于其内涵价值（标的资产价格与行权价格的差）加上时间价值。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><strong style="color: blue;">虚值期权报价</strong>：由于内涵价值为0，其报价仅等于时间价值。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><strong style="color: blue;">平值期权报价</strong>：<span style="color: black;">一样</span>地，<span style="color: black;">因为</span>内涵价值为0，平值期权的报价<span style="color: black;">亦</span>仅等于时间价值。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><img src="//q5.itc.cn/q_70/images01/20240417/49765262db304e2c89d4228d835929a6.png" style="width: 50%; margin-bottom: 20px;"></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><span style="color: black;">因此呢</span>，期权价值的<span style="color: black;">形成</span><span style="color: black;">能够</span><span style="color: black;">暗示</span>为内涵价值和时间价值的和。<span style="color: black;">针对</span>实值期权，其总价值等于内涵价值加上时间价值；<span style="color: black;">针对</span>平值期权和虚值期权，<span style="color: black;">因为</span>内涵价值为零，其总价值仅等于时间价值。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;">在进行期权交易时，<span style="color: black;">必须</span>综合<span style="color: black;">思虑</span>期权的内涵价值和时间价值，以及其他<span style="color: black;">关联</span><span style="color: black;">原因</span>，如标的资产的价格走势、市场波动性、利率水平等，来做出理性的投资决策。</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;">以上<span style="color: black;">便是</span>关于<strong style="color: blue;">期权价值的<span style="color: black;">形成</span></strong>的<span style="color: black;">关联</span>内容！<span style="color: black;">期盼</span>本文能给您带来<span style="color: black;">帮忙</span>，在<span style="color: black;">将来</span>市场交易中游刃有余，收获满满！</p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><span style="color: black;">文案</span><span style="color: black;">源自</span>/：<strong style="color: blue;">股指<span style="color: black;">科研</span>院</strong></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><img src="//q4.itc.cn/q_70/images01/20240417/8212701e357349e9bb8737765b0c4a22.png" style="width: 50%; margin-bottom: 20px;"></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><a style="color: black;"><span style="color: black;">返回<span style="color: black;">外链论坛：http://www.fok120.com/</span>，查看<span style="color: black;">更加多</span></span></a></p>
<p style="font-size: 16px; color: black; line-height: 40px; text-align: left; margin-bottom: 15px;"><span style="color: black;">......</span></p>
楼主的文章非常有意义，提升了我的知识水平。
页:
[1]