46.
Which of the following uncovered positions is most likely to have a graph that looks like the graph for a:
| protective put? | covered call? | A. | Long call | Long call | B | Long call | Short put | C | Short put | Long call | D | Short put | Short put |
Select exactly 1 answers from the following: A. B. C. D.
答案和详解如下！
Feedback: Correct answer: B
Analysis of Derivatives for the CFA Program, Don Chance (AIMR, 2003), pp. 417?29 2006 Modular Level I, Vol. IV, pp. 546-558 Study Session 16-74-a, b determine the value at expiration, profit, maximum profit, maximum loss, breakeven underlying price at expiration, and general shape of the graph of the strategies of buying and selling calls and buying and selling puts, and explain each strategy抯 characteristics; determine the value at expiration, profit, maximum profit, maximum loss, breakeven underlying price at expiration, and general shape of the graph of the covered call strategy and the protective put strategy, and explain each strategy抯 characteristics
If put-call parity exists, the graph for a protective put looks like the graph for a long call and the graph for a covered call looks like the graph for a short put.
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发表于 2006-11-21 12:25
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