Short butterfly spread with calls = Short Call(X_L) + 2*Long Call(X_M)+Short Call(X_H), Short butterfly spread with puts = Short Put(X_L) + 2*Long Put(X_M) + Short Put(X_H) 与Long butterfly spread对比可以发现,short butterfly spread是Short两端,Long中间,也可以表述为:Bear spr...
and selling two call options with an intermediate strike price. Essentially, this is abear call spreadstacked on top of abull call spread. One can also do this with puts. The investor buys a put with a low strike, buys a put at high strike and sells two puts at intermediate strike pri...
在金融中,蝴蝶(Butterfly)是一种有限风险、非方向性的期权策略,旨在当标的资产的未来波动率预计低于或高于该资产当前的隐含波动率时,赚取有限利润的可能性很高。 蝶式价差/蝶状价差(Butterfly Spread),亦…
蝶式价差的英文释义如下：The term butterfly spread refers to an options strategy that combines bull and bear spreads with a fixed risk and capped profit. These spreads are intended as a market-neutral strategy and pay off the most if the underlying asset does not move prior to option expiratio...
A butterfly spread is created by selling two options and buying one option farther out-of-the-money (OTM) and one option farther in-the money (ITM). The butterfly can be created with calls or puts. The two sold options are called the body of the butterfly, and the two long options...
蝶式价差/蝶状价差(Butterfly Spread),亦称蝶式套利。它是套利交易中的一种合成形式,整个套利涉及三个合约。在期货套利中的三个合约是近期合约,远期合约以及更远期合约,我们称为近端、中间、远端。蝶式套利在净头寸上没有开口,它在头寸的布置上,采取1份近端合约:2份中间合约:1份远端合约的方式。其中近端、远端...
蝶式价差/蝶状价差(Butterfly Spread),亦称蝶式套利。它是套利交易中的一种合成形式,整个套利涉及三个合约。在期货套利中的三个合约是近期合约,远期合约以及更远期合约,我们称为近端、中间、远端。蝶式套利在净头寸上没有开口,它在头寸的布置上,采取1份近端合约:2份中间合约:1份远端合约的方式。其中近端、远端...
蝶式价差/蝶状价差(Butterfly Spread),亦称蝶式套利。它是套利交易中的一种合成形式,整个套利涉及三个合约。在期货套利中的三个合约是近期合约,远期合约以及更远期合约,我们称为近端、中间、远端。蝶式套利在净头寸上没有开口,它在头寸的布置上,采取1份近端合约:2份中间合约:1份远端合约的方式。其中近端、远端...
Long butterfly spread can be constructed using calls, puts, or combinations of both calls and puts. For those butterfly spreads that have identical risk/reward profiles, an investor considering initiating a long butterfly position can choose between buying a call butterfly and buying a put ...
The long put butterfly spread is created by buying one put with a lower strike price, selling two at-the-money puts, and buying a put with a higher strike price.Net debtis created when entering the position. Like the long call butterfly, this position has a maximum profit when the unde...