短期來看，衍生產品不一定100%underperform 其 equity本身

比如賣covered call的，在ETF橫盤，微漲和下跌期間會超越ETF本身。但承擔幾乎同樣的大跌風險和大漲的機會成本。

各有其存在理由。

所有跟帖： 

• 短期是的。長期來說基本不如。一次大漲，CC就會菜很多，很難追上。要考慮稅的話，就更不如了 -QQQ2074- ♂ (86 bytes) () 12/14/2025 postreply 08:15:02

• No one can predict short term market movement -三心三意- ♂ (76 bytes) () 12/14/2025 postreply 08:21:57

• 破唱片重放，No one can predict short term market 是個偽命題 -槍迷球迷- ♂ (242 bytes) () 12/14/2025 postreply 08:29:47

• We are confusing asset allocation and trading strategy here -三心三意- ♂ (409 bytes) () 12/14/2025 postreply 08:34:33

• Agree with this clarification! :) -曉炎- ♀ (0 bytes) () 12/14/2025 postreply 08:37:11

• +1 -dancingpig- ♀ (0 bytes) () 12/14/2025 postreply 10:51:43

• +1 -aloevera- ♀ (0 bytes) () 12/14/2025 postreply 23:53:14