标题: which one are similar(option strategy) [打印本页] 作者: ShooterMcCFA 时间: 2011-7-11 18:39 标题: which one are similar(option strategy)
1) covered call, short a stock and long a call
2) short put option and long a call option, and long a protective put
3) long call option combined with a short put option, and long a stock
I had a hard time between 1 and 3.
2 is clearly incorrect.
ayuda me!作者: Londonrocks 时间: 2011-7-11 18:39
3 is your answer.
A covered call is a long stock and short call position.
A long call and a short put gives you the same payoff as being long on the stock.作者: Kiakaha 时间: 2011-7-11 18:39
that's correct.
Long Stock + Long Put = Long Call
Short put + Long call = Long Stock (technically its forward stock [at-the-forward], this is essentially a future and the value of the combo is stock + the PV (of Dividends less interest).
