Shanshan
2021-06-22 10:37textbook -講到關(guān)于cost of carry對option price的影響的時候，原話說Carrying costs have the opposite effect. They raise the effective cost of holding orshorting the asset. Holding call options enables an investor to participate in movements of the underlying without incurring these costs. Holding put options makes it moreexpensive to participate in movements in the underlying than by short selling becauseshort sellers benefit from carrying costs, which are borne by owners of the asset. 這段話怎么理解呢？如果underlying是equity這些，并沒有cost of carry呀？那應(yīng)該是沒有影響？
所屬：CFA Level I > Derivatives 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個回答
Evian, CFA助教
2021-06-22 21:02
該回答已被題主采納
└(^o^)┘同學(xué)你好，
Carrying costs have the opposite effect.
持有成本CC有相反的作用。
They raise the effective cost of holding or shorting the asset.
CC使得持有資產(chǎn)或者賣空資產(chǎn)的有效成本增加。
Holding call options enables an investor to participate in movements of the underlying without incurring these costs.
持有看漲期權(quán)可以使得投資者不承擔(dān)CC持有成本。
Holding put options makes it more expensive to participate in movements in the underlying than by short selling because short sellers benefit from carrying costs, which are borne by owners of the asset.
相比賣空，持有看跌期權(quán)可以使得投資者參與交易的成本增加（承擔(dān)CC持有成本），因為持有資產(chǎn)的一方就是會承擔(dān)CC持有成本。
如果標的資產(chǎn)是股票一類金融資產(chǎn)，會存在沒有持有成本的情況發(fā)生。
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