默同學(xué)
2025-02-20 17:38Out the money，不是意味著行權(quán)是虧錢(qián)的嗎，那此時(shí)不應(yīng)該更加注重管理風(fēng)險(xiǎn)嗎，但in the money他不是此刻行權(quán)，是賺錢(qián)的嗎，不就可以相對(duì)減少風(fēng)險(xiǎn)管理嗎
所屬：FRM Part I > Foundations of Risk Management 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
2個(gè)回答
黃石助教
2025-02-21 10:00
該回答已被題主采納
同學(xué)你好。這里的思路是這樣的：如果你給manager的期權(quán)是deep OTM的，那為了讓這個(gè)期權(quán)變成ITM，manager可能會(huì)采取一些比較激進(jìn)的行動(dòng)，承擔(dān)更多的風(fēng)險(xiǎn)，以此來(lái)抬升股價(jià)。在這樣一個(gè)過(guò)程中，對(duì)于風(fēng)險(xiǎn)管理肯定不會(huì)看的太重的。
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180****8696
2025-02-22 13:16該回答已被題主采納
In this case, the focus on managing risk is crucial because there is a higher potential for the option to expire worthless, and the premium paid could be lost. However, for an "in the money" (ITM) option, where exercising the option would be profitable, risk management still plays a role, albeit differently. While it seems that ITM options present an opportunity to lock in profits, they also come with the risk of price fluctuations and the potential for gains to diminish. Therefore, in both cases—whether the option is ITM or OTM—managing risk is important, but the strategies may differ: in OTM options, the risk lies in the possibility of losing the entire premium, while in ITM options, the focus is often on protecting the gains from market volatility or adjusting positions to maximize profits.
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