蒼海泛舟
方顯英雄本色-- 股市投資探討
Q:
請教各位老大，怎麽看SKF,174 進的，菜鳥學炒股三個月損失慘重。謝幫忙。
來源: 芳草 於 08-07-19 18:58:55 [檔案] [博客] [舊帖] [轉至博客] [給我悄悄話]
A:
SKF 變化太大，不適合新手做，解套後，就別再玩SKF 了。
因為金融市場的危機還遠未結束，所以，不用太擔心，你不會有損失的。如果是其它股，就很難了。
給你出個主意：
1。 如果你還有錢
1）在 $125-129 加買一倍 SKF （如原來是 100 股，就再買100股）使平均成本降到:（174+ 126）/2 = $150.
2) 到股票公司申請做 Covered call 的權利，一般都會批。
3）每個月第四個星期一 （first day of front month option) 賣下個月 $150 call ( 200 股可以賣兩個contracts) 如當時 SKF 的股價為 $126, 那麽 150 Call 可以賣$8.
4) 到了下個月的第三個周五，（option expiration day or OE day) 如果 SKF 股價還在 $150 以下，則你已經賺到$8。
成本降為：$142. 你還擁有股票，繼續做 3）。如果 SKF 的股價已經超過了$150, 你的股票已經被自動賣掉。恭喜你，不但解套了，還賺了錢。
5）繼續 3）和 4），直到解套為止。
2。 如果沒錢再買，解套要慢一些
1) 做 上麵的 2），3）隻是把要賣的 call 變為 170 call. ( 以周五的收盤價138 為例，8 月的 170 call SKFHD $6.2)
2) 到了下個月的第三個周五，（option expiration day or OE day) 如果 SKF 股價還在 $170 以下，則你已經賺到$6.2。成本降為：$168. 你還擁有股票，繼續做 3）。如果 SKF 的股價已經超過了$170, 你的股票已經被自動賣掉。恭喜你不但解套了，還賺了錢。
3) 每月第四個星期一繼續賣Call，價格以不虧為準。（如下個月可以賣 165 call 賺$6, 則再下個月賣 160 call ... ) 逐月降低成本，直到解套為止。
( 後續進展，會按實際價格更新結果.)
Thanks for the such detailed instruction. I will treat you dinner after making money.
if the stock pops before oe week, and you know it's a temp pop...should you sell the covered call at that time, since the option can be at higher price....
Thanks again for such a detailed instruction.
是不是說賣 COVERED CALL 的價位都是在 ATM or close to it ?
謝謝.
2. To sell covered call you should has at least 100shrs underline stock. 1 call contract means you have the right to buy 100 shrs of stock in certain time frame at fixed price.
Sell covered call is just opposite of call buyer.
By selling a call contract to a buyer, you have obligation to provide 100 shrs of underline stock in certain period of time at fixed price. Since you already have underline stock, so your sold call is "covered" by your stock.
If you do not have stock, you still can sell call, but the call you sell is "naked" meaning the call does not has underline stock to cover. If buyer want to access his/her call contract to buy stock, you have to buy stock from market at market price and provide these shares to the buyer. That is dangerous if you are not seasonal trader.
3. After you done 1 and 2, you are ready to sell covered call. There are two parts to decide call price: 1)Inceptive value 2) time value which also related to volitility of the stock.
1) Inceptive value: example: stock price is $50 and $45 call has $5 inceptive value. (50-45=5)
2) Time value: The longer time the contract period, the higher value of the option contract. example: stock price still $50, $50 call has no inceptive value but only the time value. August $50 call price is $2, so the time value from now to 8/15/08 (OE day) is $2. For Sep. $50 call it cost $3.
So you can sell 1 August $50 call and get $2. By 8/15/08, if stock still has price $50 or under, you get $2. Since the call contract expired worthless, you can sell next month call again.
Normal, sell next month covered call is the best interest of seller. Because the time value decay of option within 30 days is exponential.