d*******n
发帖数: 2078 | 1 肯定去start up 的hedge fund.
能出来开hedge fund 的都是有些实力的,因为hedge fund 成立得有人投钱进去,投钱的
人都是人精,相当于帮你审查过了.
hedge fund 的start up 和其它什么电脑公司start-up 完全是两个层面的东西,要成立
个hedge fund,一般人连手续都跑不完.
别想了,加入不会吃亏的,最多以后重新找工作.好多在大公司的trader,到一定时候都想
出来单干,更别说在大公司做quant的了. |
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a*****t
发帖数: 20 | 2 恳请有 hedge fund 经验的前辈指点一下：hedge fund 所需 skills 与 buy side
quant 有什么不同？buy side quant 如果想转hedge fund 可以做什么 project which
can be put in resume. When hedge fund compare candidates, what is the most
important criteria they use (being able to do probability, sattistic
questions? coding in c++, Python? Experience in hedge fund in the past?)
再问一句： what different skill sets do sell side quant need compared to buy
side quant?
Many thanks in advance for the help! |
|
s*****d
发帖数: 119 | 3 纽约一个Hedge fund的两个developer职位，求鉴定应该怎样取舍。职位如下，薪水一
样。求大家意见！谢谢！
-TRADING AND ORDER MANAGEMENT DEVELOPMENT Team is responsible for designing
and building software used by our hedge fund and hedge fund Solution clients
for portfolio management and trading.
-The Portfolio Construction Tools team develops industry leading portfolio
management applications used by our hedge fund and external clients。 With
support for multiple asset classes and a variety of investment processes, it
is a rare opportunity t... 阅读全帖 |
|
s*****d
发帖数: 119 | 4 纽约一个Hedge fund的两个developer职位，求鉴定应该怎样取舍。职位如下，薪水一
样。求大家意见！谢谢！
-TRADING AND ORDER MANAGEMENT DEVELOPMENT Team is responsible for designing
and building software used by our hedge fund and hedge fund Solution clients
for portfolio management and trading.
-The Portfolio Construction Tools team develops industry leading portfolio
management applications used by our hedge fund and external clients。 With
support for multiple asset classes and a variety of investment processes, it
is a rare opportunity t... 阅读全帖 |
|
w******9
发帖数: 10 | 5 【 以下文字转载自 Quant 讨论区 】
发信人: wanwan09 (wanwan), 信区: Quant
标 题: 如何选择：去一Private Equity公司好还是Hedge Fund好？
发信站: BBS 未名空间站 (Sat Mar 1 06:47:41 2008)
一个刚MBA毕业的朋友的困惑，
去Private Equity公司的research analyst好还是Hedge Fund的research analyst好？
面临职业转换，无论哪份工作，都是一个慎重的选择。
如果未来的五年想从事VC的工作呢，哪个更适合？
Private Equity是一家国内大公司的直接投资部，盘子很大，也有一些政府的项目，进
去主要做投资分析，DD等事情。
Hedge Fund 规模较小，主要研究海外上市的中国企业，以前的业绩还不错。
今年受次级债影响，不知道Hedge Fund的前景如何？ |
|
D**C
发帖数: 6754 | 6 没错，所以都是理论，很少散户hedge，而且自己小hedge就没啥意义了，你hedge了半
天最后就是给broker打工了。
还是要看准时机炒低，炒低不成做股东，就这么简单，所以炒股一定要拿平时不用的钱。 |
|
c*********t
发帖数: 2921 | 7 hedge的目的是降低风险，对你持有的long仓的保护。而不是单纯的玩put.如果你没有
HPQ的股票，你买put,那你就是在博了。
买哪个strike也很难讲，既然是hedge,就该做好put牺牲的准备。如果put全都牺牲了，
就当成是cost多了2.5%而已，也没有损失太多，或者是也没有小赚太多。
总之，是用小钱来保护大钱。 |
|
h****n
发帖数: 3447 | 8 呵呵
你说的情况正是很多中国企业或者很多石油企业的情况。明明是hedge的，结果却是大
头部分。季报一出来，产品卖得很好，却亏损一大截，因为hedge的对赌输了。这个到
底是hedge呢，还是以hedge为名赌博呢？很多企业自己都没搞明白。 |
|
c*******y
发帖数: 1630 | 9 FROM ZH
http://www.zerohedge.com/news/2014-04-13/31-year-old-hedge-fund
Over the weekend, there has been some consternation over the report that the
CEOs of the 6 largest US banks: JPM, BAC, GS, MS, C and WFC, collectively
made $96.1 million in 2013, more than $86.3 million the year before and the
most since the financial crisis.
However, we are confident those same people would have an aneurism if they
were to learn that James "Jimmy" Levin, a 31-year-old hedge fund trader -
head of global cred... 阅读全帖 |
|
X****i
发帖数: 1877 | 10 Quiet Markets Are Killing Four Huge Hedge Fund Names
by Stephanie Yang Jun 13, 2014, 08.54 PM
The quiet market has made for a rough year for investors. Particularly for
some of Wall Street's hedge fund titans, a WSJ article said today.
Hedge funds specialized in macroeconomic trends have been losing money this
year after investing in the wrong global markets.
According to the article, these are some investors hurting:
Alan Howard - Brevan Howard Capital Management is down 3.8% through June
6... 阅读全帖 |
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W***n
发帖数: 11530 | 11 Hedge funds see their returns halving in 2014
Jenny Cosgrave | @jenny_cosgrave
Monday, 21 Jul 2014 | 8:49 AM ETCNBC.com
Hedge fund managers are expecting to deliver less than half of the returns
for their investors in 2014 that they saw last year, as fears of a
correction in stock markets mount, amid record high equity valuations.
Almost half of the 150 hedge fund managers questioned by data provider
Preqin, with a total of $380 billion of assets under management, said they
expected to delive... 阅读全帖 |
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d*****s
发帖数: 5610 | 12 http://www.reuters.com/article/2015/01/05/us-oil-hedging-analys
“OPEC,They may need much more patience than they reckon, however, because
those hedges are a moving target. Rather than wait for their price insurance
to run out, many companies are racing to revamp their policies, cashing in
well-placed hedges to increase the number of future barrels hedged,
according to industry consultants, bankers and analysts familiar with the
deals.” |
|
a*****1
发帖数: 3134 | 13 Not necessary and it all depend upon hedging strategy.
For Swap, it is as simple as short, which means the selling price is fixed.
The three way collar means there is the subfloor, after which hedging does
not really help. Most of the companies uses both.
I don't think hedging is really helping the NG/oil companies. It is a net
zero game that have effect on both sides. The lower price today would
translate into lower future cost which makes it difficult to hedge. |
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l*********m
发帖数: 16971 | 14 Last night, the quarterly SEC disclosures hit that give us a peek into the
activities of the world’s best billionaire hedge fund managers.
Now, 13-F filings provide a ton of information, but you have to know exactly
what to look for to make these filings useful.
With that being said here is what caught my eye from the holdings of the
world’s best billionaire hedge fund managers:
Apple
Every top hedge fund seemed to either buy or increase their position in
Apple, including billionaire Leon Cooper... 阅读全帖 |
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w********o
发帖数: 10 | 15 Hedge Funds Stumble Even When Walking
'Conservative' Wagers Turn Sour,
Leading to Fears of a Shakeout;
A One-Two Punch on a GM Bet
By GREGORY ZUCKERMAN
Staff Reporter of THE WALL STREET JOURNAL
May 18, 2005; Page C1
Hedge-fund losses are piling up, sparking concerns about a shakeout in the
business and the possible impact on the overall markets.
But this time, it isn't a case of hedge funds stumbling on big, risky bets. In
fact, hedge funds have tried to turn tamer in the past decade or so, with |
|
w******9
发帖数: 10 | 16 【 以下文字转载自 Quant 讨论区 】
发信人: wanwan09 (wanwan), 信区: Quant
标 题: 如何选择：去一Private Equity公司好还是Hedge Fund好？
发信站: BBS 未名空间站 (Sat Mar 1 06:47:41 2008)
一个刚MBA毕业的朋友的困惑，
去Private Equity公司的research analyst好还是Hedge Fund的research analyst好？
面临职业转换，无论哪份工作，都是一个慎重的选择。
如果未来的五年想从事VC的工作呢，哪个更适合？
Private Equity是一家国内大公司的直接投资部，盘子很大，也有一些政府的项目，进
去主要做投资分析，DD等事情。
Hedge Fund 规模较小，主要研究海外上市的中国企业，以前的业绩还不错。
今年受次级债影响，不知道Hedge Fund的前景如何？ |
|
e*********e
发帖数: 243 | 17 not all hedge funds hedge, but basically china has three problems limiting
hedge funds development
1. nothing to hedge
2. no intraday trading
3. seriously lacking practitioners and scholars who have superb knowledge
about modern capital market and have an interest in developing strategies
localized to china. |
|
e*********e
发帖数: 243 | 18 I like to see hedge funds as privately owned, unregulated funds. they dont
need to hedge, for example high frequency traders do not necessarily hedge.
So china does have hedge fund. But most are tu-bie replying on intuition and
traditional methods. |
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q**i
发帖数: 174 | 19 Hedge funds got their names in the 80's from its participation
in volatile securities. Hedge funds started originally by
exploiting pricing differences of (sometimes synthetically)
identical securities (so their positions are near-risk free,
or hedged).
One of the most common playgrounds is to "play" along the
yield curve of US government bonds. Later in the 80's,
as the junkbond market collapsed, hedge funds were major
investors/buyers of blown high yield deals / distressed
debt securities. At |
|
m********s
发帖数: 32 | 20 hedge fund的意思大家都明白.
可是, 究竟什么算hedge fund呢? black stone, KKR什么的,
大家说起来, 都说是hedge fund, 实际上他们好象更象
private equity firm.
是不是现在大家把buy side的, 都叫hedge fund 呀? |
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S*****n
发帖数: 54 | 21 [edit] Top 25 funds of hedge funds by assets
Funds of hedge funds invest in a portfolio of underlying hedge funds rather
than investing in securities directly. They hire the hedge fund managers on
behalf of their clients following due diligence on the managers in addition
to building diversified portfolios of these managers. They are ranked by Dec
2005 Assets Under Management (though this cannot be taken as the final word
on the matter given the intense privacy that surrounds much of the industr |
|
h**********r
发帖数: 3 | 22 我的工作背景是会计为主,做了4年金融公司银行等的审计,没审过投行.自己虽然一直想
进i-banking,hedge fund, private equity做analyst, 却不得其门. 发贴到这里问可
能会被鄙视啦,因为这里都是搞quant的精英,但是想来想去可能也只有这里有人对hedge
fund比较了解, 所以希望能得到点建议.
Have always thinking of switching to i-banks/hedge fund/private equity
industry. Has pursued with a recruiter.
An opportunity was offered from a medium size hedge fund for an back/middle
office role--- first with fund accounting group and then can transit to
daily P/L and valuation group.
Feel it is more of an operational role, |
|
m*******e
发帖数: 13 | 23 最近在找工作。想问个比较简单的technical question，相信版上的有经验的大虾一定
可以拉小妹一把：
我的策略是海投hedge fund，根据一些排名，然后找他们的主页，但是我发现有的
hedge fund的主页非常简单，只有些基本信息，career的链接根本没有？？我想问一下
，大家都是怎样申请hedge fund的职位的？如果有些hedge fund要招人，他们又是通过
什么途径来找人的？？难道大家都是通过猎头吗，或者去一些job board？？
还请过来人请教！！小妹先谢过！！ |
|
h***z
发帖数: 233 | 24 Renaissance, JPMorgan Hedge Funds Fell in 2007 as Rivals Gained
Bloomberg, January 8, 2008
By Katherine Burton and Jenny Strasburg
Renaissance Technologies Corp. and JPMorgan Chase & Co., the world's biggest
hedge-fund managers, trailed rivals in 2007 as stock-pickers with fewer
assets sidestepped losses caused by the collapse of subprime mortgages.
The average hedge fund gained 10 percent last year, data compiled by Chicago
-based Hedge Fund Research Inc. show. Seven of the 10 largest firms fel |
|
J**********y
发帖数: 1891 | 25 Define "Hedging Strategy" mathematically.
What's the goal of hedging here? Hedging towards which factor?
What are the constraints?
Are we looking for "optimal" hedging? Dynamic or static?
K |
|
t**********a
发帖数: 166 | 26 My understaning of hedging is to get rid of the hedgable risk that you don't
want to expose to with (more liquid) tradable products.
It is certainly tie to the contraints: what is tradable and how liquid, how
often you can retrade at what cost..
All of these will determine whether it is more efficient to static hedge or
dynamic hedge, and what hedging strategy can achieve your goal with minimum
cost.
.
not
S1- |
|
t********a
发帖数: 810 | 27 hedge fund return还能被forecast?
如果说fund of fund要推销一些产品需要呼悠我能理解, 真要那么牛能forecast hedge
fund return, 自己开个hedge, 根据自己对自己strategy return的forecast, long/
short自己的strategy好了.
and i dont feel most hedge fund strats are well understood. otherwise it is
too easy to make money against them. Many strats are similar though, but the
small different part can make a big impact on the overall performance. |
|
z****g
发帖数: 1978 | 28 For hedge fund, factor model makes sense.
For forecasting, you need to understand the source of their profit, which is
actually an important part in hedge due diligence.
Factor model based on investment style, asset, market, sector and currency
makes whole lot of sense. Academic papers focus more on the extreme behavior
of their returns, which directly contributes to the maximum drawdown. Hedge fund's
return distribution is highly asymmetric and skewed, hence portfolio allocation for
hedge fund |
|
T******4
发帖数: 276 | 29 可以。我老公自己的公司正在和国内洽谈开国内的hedge fund分公司。他们主要是做日
本和澳大利亚。现在开始做中国市场了。中间接触了一些国内有投资理念和有财富的一
群人。你提的问题是他们都想知道和正在研究如何操作的，所以了解到了一些这方面的
信息。
1. 最好你是有海外账户。比如说在香港或新加坡就可以了。最好是流通货币。
2. 如果人民币出境有困难。可以投资到美国驻中国的hedge fund。他们的公司管理，
交易模型，产品等和美国本土的差异不大。但确实比国内参差不齐的号称对冲基金的公
司强太多了。
3. 灰色通道，钱庄等。但极度不建议这么做。对客户和对hedge fund来说风险太大。
正规的hedge fund不会接受这种做法。当然，你也可以选择不让公司知道钱是如何出境
的。所有的投资都是需要签订法律文书的。只要你签字证明钱的来源是正道的，我想就
可以了吧？
祝好运！ |
|
Y******u
发帖数: 1912 | 30 There are many kinds of hedge. The simplest one is to hedge out extra factor
you don't want in your portfolio
If you like AAPL, but don't want to expose to US direction, you can hedge
via SPY. If you don't want to expose to industry sector, you can hedge via
XLK. If you are Chinese investor and don't want USD exposure, you can buy
USD/CNY Put.
Or if you can do a long short strategy which long AAPL and short GOOG, if
you don't have confidence in overall market but believe AAPL gonna
outperform GO... 阅读全帖 |
|
发帖数: 1 | 31 楼主最近刚刚拿到这家的全职offer， package还可以。手上也有其他offer，有金融的
也有tech的。这个公司网上的资料不多，2001年建立的，大概有13B的asset under
management，500多个人，芝加哥纽约三番伦敦香港都有分部。
机会感觉还可以，一个新的data science的team，进去的话应该是团队最早期的成员。
老板是director级别，直接汇报个一个founding partner， 是chief risk officer。
感觉如果以后团队扩大的话似乎升职空间比较大。
但是对hedge行业不太了解，只是一直听说hedge fund多么高大上神马的，也不知道是
不是真的。完全没听说过这家公司，难以选择。
想问问各位有听说过或者了解这家公司的嘛？网上查到的资料，这个规模在hedge fund
里面算什么水平？这家的声誉怎么样？从职业发展的角度来看，以后跳槽大的hedge
fund例如citadel会不会有帮助。
另外一个在考虑的alternative是去一个大的tech里面做码农，薪水可能会高一些，
concern就是泯然众人，进入管理层的机... 阅读全帖 |
|
n****e
发帖数: 2401 | 32 你就是个泯然众人，或者甚至还不如，不明白你还在concern什么？
楼主最近刚刚拿到这家的全职offer， package还可以。手上也有其他offer，有金融的
也有tech的。这个公司网上的资料不多，2001年建立的，大概有13B的asset under
management，500多个人，芝加哥纽约三番伦敦香港都有分部。
机会感觉还可以，一个新的data science的team，进去的话应该是团队最早期的成员。
老板是director级别，直接汇报个一个founding partner， 是chief risk officer。
感觉如果以后团队扩大的话似乎升职空间比较大。
但是对hedge行业不太了解，只是一直听说hedge fund多么高大上神马的，也不知道是
不是真的。完全没听说过这家公司，难以选择。
想问问各位有听说过或者了解这家公司的嘛？网上查到的资料，这个规模在hedge fund
里面算什么水平？这家的声誉怎么样？从职业发展的角度来看，以后跳槽大的hedge
fund例如citadel会不会有帮助。
另外一个在考虑的alternative是去一个大的tech里面... 阅读全帖 |
|
发帖数: 1 | 33 楼主最近刚刚拿到这家的全职offer， package还可以。手上也有其他offer，有金融的
也有tech的。这个公司网上的资料不多，2001年建立的，大概有13B的asset under
management，500多个人，芝加哥纽约三番伦敦香港都有分部。
机会感觉还可以，一个新的data science的team，进去的话应该是团队最早期的成员。
老板是director级别，直接汇报个一个founding partner， 是chief risk officer。
感觉如果以后团队扩大的话似乎升职空间比较大。
但是对hedge行业不太了解，只是一直听说hedge fund多么高大上神马的，也不知道是
不是真的。完全没听说过这家公司，难以选择。
想问问各位有听说过或者了解这家公司的嘛？网上查到的资料，这个规模在hedge fund
里面算什么水平？这家的声誉怎么样？从职业发展的角度来看，以后跳槽大的hedge
fund例如citadel会不会有帮助。
另外一个在考虑的alternative是去一个大的tech里面做码农，薪水可能会高一些，
concern就是泯然众人，进入管理层的机... 阅读全帖 |
|
n****e
发帖数: 2401 | 34 你就是个泯然众人，或者甚至还不如，不明白你还在concern什么？
楼主最近刚刚拿到这家的全职offer， package还可以。手上也有其他offer，有金融的
也有tech的。这个公司网上的资料不多，2001年建立的，大概有13B的asset under
management，500多个人，芝加哥纽约三番伦敦香港都有分部。
机会感觉还可以，一个新的data science的team，进去的话应该是团队最早期的成员。
老板是director级别，直接汇报个一个founding partner， 是chief risk officer。
感觉如果以后团队扩大的话似乎升职空间比较大。
但是对hedge行业不太了解，只是一直听说hedge fund多么高大上神马的，也不知道是
不是真的。完全没听说过这家公司，难以选择。
想问问各位有听说过或者了解这家公司的嘛？网上查到的资料，这个规模在hedge fund
里面算什么水平？这家的声誉怎么样？从职业发展的角度来看，以后跳槽大的hedge
fund例如citadel会不会有帮助。
另外一个在考虑的alternative是去一个大的tech里面... 阅读全帖 |
|
t*******o
发帖数: 1464 | 35 【 以下文字转载自 pennystock 俱乐部 】
发信人: tanmaomao (坛猫猫), 信区: pennystock
标 题: ZZ The Best Commodities to Hedge Inflation (转载)
发信站: BBS 未名空间站 (Wed Feb 3 22:53:29 2010, 美东)
发信人: tanmaomao (坛猫猫), 信区: PraticalTrading
标 题: ZZ The Best Commodities to Hedge Inflation
发信站: BBS 未名空间站 (Wed Feb 3 22:52:06 2010, 美东)
coffee的相关系数尽然排第二
=============
The Best Commodities to Hedge Inflation
http://seekingalpha.com/article/186000-the-best-commodities-to-hedge-inflation |
|
d*2
发帖数: 2053 | 36 http://fortune.com/2016/05/11/clinton-greece-fund/
Two sources told the New York Times that Eaglevale Partners, the hedge fund
firm founded by Marc Mezvinsky, husband to Clinton’s daughter Chelsea, will
be closing the Eaglevale Hellenic Opportunity fund. The fund had raised
around $25 million to buy stocks from Greek banks and government debt.
The principle behind the fund was that the Greek economy, after going
through the crises that have made big news the past few years, would see a
revival t... 阅读全帖 |
|
K****D
发帖数: 30533 | 37 Then Buffett wins the 2nd year on his bet that "SPY will beat
hedge fund average on a 10-year span, all fees considered",
considering hedge funds' 20% fee on the gain.
The first year hedge fund won by about 16%. |
|
h**********2
发帖数: 775 | 38 有些MF的长线投资，平时基本上没有管理，08年损失超过50%，去年起来了一些，
但是最近又损失了20%多。
觉得这样下去不是办法，MF不好频繁买卖，
请问怎样才能HEDGE一下自己的长线投资？指比较长时间的HEDGE。然后按照什么比
例HEDGE比较好？ |
|
l********m
发帖数: 284 | 39 请问在hedge fund 里工作的前辈，hedge fund 做背景调查查credit report 吗？我读
书的时候欠了好多信用卡债，主要是利用率太高了，所以信用分数很低，very poor。
550. 最近收到hedge fund 的offer，下一步就是背景调查了，信用卡分数低会不会有
影响啊？我把两个信用评级的给冻结了。冻结后，雇主就看不到信用分数了，可是如果
是必须要检查的，他们一样可以叫我解冻，做调查呀。好烦呀。麻烦过来人给点意见啊
，多谢多谢了。 |
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s******t
发帖数: 2 | 40 我不是FINANCE背景的，PHD是工程方面的，但是想往FINANCE方向发展。以前一直是希望
进入INVESTMENT BANK 这个领域的，但是一直没有机会。朋友介绍了一个在HEDGE FUND做
RESEARCH的机会，但是对HEDGE FUND不是特别了解。想请问一下在金融方面HEDGE FUND的
发展前景好吗？ 谢了 |
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G***G
发帖数: 16778 | 41 大家喜欢长一些的pole hedge trimmer还是短一些的hedge trimmer？
如果只能买一个，你买哪一个？ |
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c***1
发帖数: 3281 | 42 每个人都有对市场的bias.再牛的人也不可能都对。就算方向都对也不可能timing都对。
方向对了，timing差个几个月，慢仓或重仓的肯定出师为捷身先死。不然就肯定割在地
板上。
以前大牛市的时候我特别不喜欢hedge。这次是第一次见识了熊市的开始（大概还没算
结束）现在bear market里面的rally终于都体会到hedge的重要性。
现在hedge比以前省心多了，不能搞option,futures,shorts，还能搞bearish ETF |
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q********u
发帖数: 15519 | 43 金银矿为了避风险通常HEDGE?
也就是预先卖空合约锁定利润？
但是最近几年的金银矿流行取消HEDGE?
尤其是眼下世界大乱的背景下？
金银矿纷纷取消HEDGE?
预示金银还要大涨？
请大牛说说？
谢谢？ |
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G*******m
发帖数: 16326 | 44 而且，hedge的二边齐涨齐跌的情况，也是不少见的。
特别是大家都是这么hedge的时候，hedge就成了disaster了。 |
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j***b
发帖数: 5901 | 45 One big benefit of hedging over reducing position is tax. If your hedging
position loses, you claim loss. If your hedging position profits, then it
worked.
On the other hand, if you reduce position, you have to report profit on the
gain.
Of course people here pursues profits of at least 200% monthly and the tiny
tax benefit is negligible. |
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r******9
发帖数: 2632 | 47 这不是造稻草人么。
hedge 不是只对系统风险讲的。一个资产标的一般对多种风险有敞口。投机投资人可以
根据自己情况选择地对冲掉想要规避的风险类别。hedging是很专业的话题，我只知很
少。但起码Factor model这些wiki现学一下再来卖。
买gm有各种搞法。卖空f这种pair trade是最原始的想法。当然也启发了后来更复杂的
方法。
买入gm同时卖出call，不就是一种hedge么。很legit 的做法。配合其他气圈组合也多
得很，不展开。 |
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j**l
发帖数: 486 | 48 那你推荐个 HEDGE 的万全之策？ 别说用 PUT 来 HEDGE， 我马上可以举出
PUT HEDGE 不行的很多例 |
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f******t
发帖数: 478 | 49 As a group, the hedge fund industry returned just shy of 9 percent for 2013,
well short of the 32 percent total return of the S&P 500.
But that doesn't mean there weren't winners.
Take Appaloosa Management's David Tepper. His $3.5 billion in earnings put
him at the top of Institutional Investormagazine's Rich List of the top 25
hedge fund managers in 2013.
如果是,实在是高! hedge fund去年才赚了9%,如果是100B,就是赚了9B,
而这manager就拿走了3.5B... |
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b***y
发帖数: 14281 | 50 In reality, you gamble. In theory, you buy and sell based on the delta.
At the beginning the delta of your put is small, perhaps 0.5 (really, it
should be -0.5, but let's omit the negative sign!). So, to fully hedge your
position, you need to buy 2 contracts of put for every 100 stocks you own.
As the stock price lowers, your put options gain value and the delta also
starts to grow. When your put options are deep in the money, their delta
will be very close to 1, at which point, you will be over... 阅读全帖 |
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