Derivatives We have a dedicated options team to advise and assist you. To start trading options with us, you first need to sign an options agreement, and open a Cash Management Account to facilitate settlement of positions. Advantages: Risk Management A simple strategy is to use put options allow investors holding shares to hedge against a possible fall in their value. This can be considered similar to taking out insurance against a fall in the share price. Time to Decide By buying a call option the purchase price for the shares is locked in. This gives the call option holder until the expiry date to decide whether or not to exercise the option and buy the shares. Likewise the buyer of a put option has time to decide whether or not to sell the shares. Trading The ease of trading in and out of an option position makes it possible to trade options even if there is no intention of ever exercising them. If an investor expects the market to rise, they may decide to buy call options and vice versa. Either way the holder can sell the option prior to expiry to take a profit or limit a loss. Leverage Leverage provides the potential to make a higher return from a smaller initial outlay than investing directly. However, leverage usually involves more risk than a direct investment in the underlying shares. Trading in options can allow investors to benefit from a change in the price of the share without having to pay the full price of the share. Diversification ASX's Options Market allows investors to build a diversified portfolio for the same or even lower initial outlay than purchasing shares directly. Income Generation Share holders can earn extra income over and above dividends by writing call options against their shares. By writing an option they receive the option premium upfront. While they get to keep the option premium, there is the possibility that they could be exercised against and have to deliver their shares to the buyer of the option at the exercise price. This is called a 'covered write' strategy. Strategies By selectively mixing calls and puts, investors can create a wide range of potential scenarios. To find out more about options and strategies read the ASX booklet called Understanding Option Strategies To find out more about trading derivatives, call us on + 61 2 8215 5033 | 衍生投資： 我們有一支專業的投資團隊給你提供建議和幫助。在開始與我們交易之前，你首先需要簽署一份協定，並且開啟一個現金管理帳戶便於你在我公司進行任何投資活動。 優勢： 風險管理 一個簡單的策略是，運用賣出期貨選擇權使投資者擁有股份去回避有可能的損失。這個和用保險去抵抗股份價格下跌。 作決定的時間 在購買一個購買選擇權的時候，股份的購買價格已經被鎖定了。這個給購買選擇權的所有人在有效的時間段內決定是否購買股份。就像賣出期貨選擇權的購買者一樣，有時間去決定是否賣掉股份。 交易 交易進出的便利可以使交易選擇權成為可能，儘管你沒有經常這樣運用這個方法。如果一個投資者期待市場情況良好，他們可能決定買購買選擇權和購買相反的東西。任何一種方法都可以使持有人在有效的期限內賣掉選擇權獲得收益或者減少損失。 杠杆作用 杠杆作用從小部分的首期支出中提供了得到更大回報的潛質，高於直接投資產生的回報率。然而，杠杆作用通常比直接投資股份有更多的風險。選擇權的交易允許投資者在沒有付完全部股份價格的情況下，從股份價格改變中獲得利益。 多樣化 ASX的選擇權市場傾向于允許投資者以同樣或者相對低於首次支出的情況下，建立一個多樣化的證券投資組合，多於讓投資者直接購買股份。 收入的產生 股份持有人能夠以書寫購買選擇權抵抗他們的股份，來賺取比分紅更多的額外收入。在書寫一個選擇權的時候他們收到直接的選擇權保險費。當他們一直保持選擇權保險費的時候，有這樣一個可能性，他們可能被預購並且以預購股票價格向選擇權買家交付他們的股份。 策略 在選擇混合的賣出期貨選擇權和購買期貨選擇權時，投資者能創造一切的可能性。如果想得到更多關於選擇權和策略的資訊，請查看ASX小冊子—瞭解選擇權策略。 如果想得到更多關於衍生交易的資訊，請致電：+ 61 2 8215 5033 |
