{"id":30641,"date":"2023-12-07T09:39:56","date_gmt":"2023-12-07T09:39:56","guid":{"rendered":"https:\/\/masterskills.org\/blog\/thuyet-tong-khoi-luong-ban-khong-short-interest-theory-la-gi-dac-diem-va-vi-du.html"},"modified":"2023-12-23T06:14:00","modified_gmt":"2023-12-22T23:14:00","slug":"thuyet-tong-khoi-luong-ban-khong-short-interest-theory-la-gi-dac-diem-va-vi-du","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/thuyet-tong-khoi-luong-ban-khong-short-interest-theory-la-gi-dac-diem-va-vi-du.html","title":{"rendered":"Thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng (Short-Interest Theory) l\u00e0 g\u00ec? \u0110\u1eb7c \u0111i\u1ec3m v\u00e0 V\u00ed d\u1ee5"},"content":{"rendered":"
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Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: Shortsight.com<\/p>\n<\/figcaption><\/figure>\n

Thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng<\/font><\/h2>\n

Kha\u0301i ni\u1ec7m<\/b><\/p>\n

Thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng<\/b> trong ti\u00ea\u0301ng Anh la\u0300 Short-Interest Theory.<\/b><\/p>\n

Thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng<\/b> l\u00e0 l\u00ed thuy\u1ebft cho r\u1eb1ng\u00a0t\u1ec9 l\u1ec7 b\u00e1n kh\u1ed1ng<\/span> cao l\u00e0 m\u1ed9t ch\u1ec9 b\u00e1o c\u1ed5 phi\u1ebfu s\u1ebd t\u0103ng gi\u00e1. Do \u0111\u00f3, nh\u1eefng ng\u01b0\u1eddi theo l\u00ed thuy\u1ebft n\u00e0y s\u1ebd t\u00ecm mua c\u00e1c c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c b\u00e1n kh\u1ed1ng nhi\u1ec1u v\u00e0 ki\u1ebfm l\u1ee3i nhu\u1eadn t\u1eeb s\u1ef1 t\u0103ng gi\u00e1 d\u1ef1 ki\u1ebfn c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu n\u00e0y.\u00a0 \u00a0 \u00a0 \u00a0<\/p>\n

C\u00e1ch ti\u1ebfp c\u1eadn n\u00e0y \u0111i ng\u01b0\u1ee3c l\u1ea1i v\u1edbi quan \u0111i\u1ec3m ph\u1ed5 bi\u1ebfn c\u1ee7a h\u1ea7u h\u1ebft c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0, nh\u1eefng ng\u01b0\u1eddi coi vi\u1ec7c b\u00e1n kh\u1ed1ng l\u00e0 m\u1ed9t d\u1ea5u hi\u1ec7u cho th\u1ea5y c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c b\u00e1n kh\u1ed1ng nhi\u1ec1u th\u00ec s\u1ebd c\u00f3 kh\u1ea3 n\u0103ng gi\u1ea3m gi\u00e1.\u00a0<\/p>\n

Do \u0111\u00f3, thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c xem nh\u01b0 m\u1ed9t c\u00e1ch ti\u1ebfp c\u1eadn tr\u00e1i ng\u01b0\u1ee3c v\u1edbi \u0111\u1ea7u t\u01b0 th\u00f4ng th\u01b0\u1eddng.\u00a0<\/i><\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m Thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng<\/font><\/h3>\n

Thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng <\/b>d\u1ef1a tr\u00ean c\u01a1 ch\u1ebf\u00a0b\u00e1n kh\u1ed1ng. Khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 b\u00e1n kh\u1ed1ng m\u1ed9t c\u1ed5 phi\u1ebfu, h\u1ecd vay c\u1ed5 phi\u1ebfu \u0111\u00f3 t\u1eeb m\u1ed9t nh\u00e0 m\u00f4i gi\u1edbi v\u00e0 sau \u0111\u00f3 b\u00e1n ngay \u0111\u1ec3 l\u1ea5y l\u1ee3i nhu\u1eadn.\u00a0<\/p>\n

Khi ng\u01b0\u1eddi m\u00f4i gi\u1edbi y\u00eau c\u1ea7u \u0111\u01b0\u1ee3c ho\u00e0n tr\u1ea3, nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i l\u00e0m nh\u01b0 v\u1eady b\u1eb1ng c\u00e1ch mua c\u1ed5 phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng m\u1edf v\u00e0 tr\u1ea3 l\u1ea1i s\u1ed1 c\u1ed5 phi\u1ebfu \u0111\u00f3 cho ng\u01b0\u1eddi m\u00f4i gi\u1edbi. \u00a0\u00a0<\/p>\n

Ng\u01b0\u1eddi b\u00e1n kh\u1ed1ng s\u1ebd ki\u1ebfm \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn n\u1ebfu gi\u00e1 c\u1ed5 phi\u1ebfu h\u1ecd b\u00e1n kh\u1ed1ng gi\u1ea3m sau khi h\u1ecd b\u00e1n c\u1ed5 phi\u1ebfu. Tr\u01b0\u1eddng h\u1ee3p n\u00e0y, ng\u01b0\u1eddi b\u00e1n kh\u1ed1ng c\u00f3 th\u1ec3 mua l\u1ea1i c\u1ed5 phi\u1ebfu v\u1edbi gi\u00e1 th\u1ea5p h\u01a1n v\u00e0 tr\u1ea3 l\u1ea1i cho nh\u00e0 m\u00f4i gi\u1edbi, b\u1ecf t\u00fai ph\u1ea7n ch\u00eanh l\u1ec7ch l\u00e0 l\u1ee3i nhu\u1eadn.\u00a0 \u00a0\u00a0<\/p>\n

Tuy nhi\u00ean, n\u1ebfu c\u1ed5 phi\u1ebfu t\u0103ng gi\u00e1 sau \u0111\u1ee3t b\u00e1n kh\u1ed1ng, nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd ph\u1ea3i mua l\u1ea1i c\u1ed5 phi\u1ebfu v\u1edbi gi\u00e1 cao h\u01a1n v\u00e0 d\u1eabn \u0111\u1ebfn thua l\u1ed7.<\/p>\n

N\u1ebfu c\u00f3 nhi\u1ec1u ng\u01b0\u1eddi b\u00e1n kh\u1ed1ng c\u1ed5 phi\u1ebfu v\u00e0 quan s\u00e1t th\u1ea5y gi\u00e1 c\u1ee7a c\u1ed5 phi\u1ebfu \u0111\u00f3 \u0111ang d\u1ea7n t\u0103ng l\u00ean, h\u1ecd c\u00f3 th\u1ec3 r\u01a1i v\u00e0o ho\u1ea3ng lo\u1ea1n v\u00e0 c\u1ed1 g\u1eafng mua l\u1ea1i c\u1ed5 phi\u1ebfu \u0111\u1ec3 h\u1ea1n ch\u1ebf r\u1ee7i ro r\u1eb1ng gi\u00e1 c\u1ed5 phi\u1ebfu s\u1ebd c\u00f2n t\u0103ng h\u01a1n n\u1eefa.\u00a0<\/p>\n

T\u00ecnh tr\u1ea1ng mua ho\u1ea3ng lo\u1ea1n n\u00e0y \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 hi\u1ec7n t\u01b0\u1ee3ng b\u00e1n non (short squeeze). \u00a0<\/i><\/p>\n

Thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng<\/b> \u1ee7ng h\u1ed9 vi\u1ec7c\u00a0t\u00ecm c\u00e1ch thu l\u1ee3i t\u1eeb nh\u1eefng t\u00ecnh hu\u1ed1ng kh\u00f3 b\u00e1n n\u00e0y.\u00a0<\/p>\n

Nh\u1eefng ng\u01b0\u1eddi theo thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng tin r\u1eb1ng c\u00e1c c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c b\u00e1n kh\u1ed1ng nhi\u1ec1u c\u00f3 kh\u1ea3 n\u0103ng s\u1ebd t\u0103ng gi\u00e1 v\u00ec ng\u01b0\u1eddi b\u00e1n kh\u1ed1ng c\u00f3 th\u1ec3 b\u1ecb bu\u1ed9c ph\u1ea3i mua c\u1ed5 phi\u1ebfu v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng l\u1edbn trong m\u1ed9t kho\u1ea3ng th\u1eddi gian ng\u1eafn.\u00a0<\/p>\n

Hi\u1ec7n t\u01b0\u1ee3ng mua n\u00e0y \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 mua b\u00f9 thi\u1ebfu ho\u1eb7c mua l\u1ea5p tr\u1ed1ng (short covering). \u00a0<\/i><\/p>\n

T\u1ec9 l\u1ec7 b\u00e1n kh\u1ed1ng (SIR)<\/font><\/h3>\n

M\u1ed9t c\u00e1ch ti\u1ebfp c\u1eadn kh\u00e1c s\u1eed d\u1ee5ng t\u1ec9 l\u1ec7 b\u00e1n kh\u1ed1ng<\/span> \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh c\u1ed5 phi\u1ebfu c\u00f3 ti\u1ec1m n\u0103ng t\u0103ng gi\u00e1 c\u1ed5 phi\u1ebfu l\u00e0 t\u1ec9 l\u1ec7 b\u00e1n kh\u1ed1ng (SIR).\u00a0<\/p>\n

SIR l\u00e0 t\u1ec9 l\u1ec7 c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c b\u00e1n kh\u1ed1ng so v\u1edbi kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch trung b\u00ecnh h\u00e0ng ng\u00e0y (ADTV).\u00a0<\/p>\n

V\u00ed d\u1ee5: n\u1ebfu c\u00f4ng ty XYZ c\u00f3 m\u1ed9t tri\u1ec7u c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c b\u00e1n kh\u1ed1ng v\u00e0 ADTV l\u00e0 500.000 c\u1ed5 phi\u1ebfu, th\u00ec SIR c\u1ee7a n\u00f3 b\u1eb1ng 1.000.000\/500.000 = 2. C\u00f3 ngh\u0129a l\u00e0 v\u1ec1 m\u1eb7t l\u00ed thuy\u1ebft s\u1ebd m\u1ea5t \u00edt nh\u1ea5t hai ng\u00e0y giao d\u1ecbch \u0111\u1ea7y \u0111\u1ee7 cho nh\u1eefng ng\u01b0\u1eddi b\u00e1n kh\u1ed1ng trong XYZ \u0111\u1ec3 mua l\u1ea1i \u0111\u1ec3 tr\u1ea3 c\u00e1c v\u1ecb th\u1ebf b\u00e1n c\u1ee7a h\u1ecd.\u00a0 \u00a0\u00a0<\/p>\n

C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng SIR \u0111\u1ec3 nhanh ch\u00f3ng bi\u1ebft \u0111\u01b0\u1ee3c m\u1ee9c \u0111\u1ed9 b\u00e1n kh\u1ed1ng c\u1ee7a c\u1ed5 phi\u1ebfu m\u1ed9t c\u00f4ng ty.\u00a0<\/i><\/p>\n

\u0110\u1ed1i v\u1edbi nh\u1eefng ng\u01b0\u1eddi theo thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng<\/b>, SIR c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh c\u00f4ng ty n\u00e0o c\u00f3 m\u1ee9c t\u0103ng gi\u00e1 ti\u1ec1m n\u0103ng nh\u1ea5t. \u00a0\u00a0<\/p>\n

V\u00ed d\u1ee5 th\u1ef1c t\u1ebf v\u1ec1 Thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng\u00a0<\/font><\/h3>\n

C\u00f4ng ty A c\u00f3 50 tri\u1ec7u c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh v\u00e0 2,5 tri\u1ec7u c\u1ed5 phi\u1ebfu \u0111\u00e3 b\u1ecb b\u00e1n kh\u1ed1ng, th\u00ec t\u1ec9 l\u1ec7 b\u00e1n kh\u1ed1ng<\/span> l\u00e0 5%. C\u00f4ng ty B c\u00f3 40 tri\u1ec7u c\u1ed5 phi\u1ebfu \u0111ang l\u01b0u h\u00e0nh, trong \u0111\u00f3 10 tri\u1ec7u c\u1ed5 phi\u1ebfu \u0111\u00e3 b\u1ecb b\u00e1n kh\u1ed1ng, t\u1ec9 l\u1ec7 b\u00e1n kh\u1ed1ng<\/span> l\u00e0 25%. \u00a0\u00a0<\/p>\n

Theo thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng<\/b>, c\u1ed5 phi\u1ebfu c\u00f4ng ty B c\u00f3 x\u00e1c su\u1ea5t t\u0103ng gi\u00e1 cao h\u01a1n c\u1ed5 phi\u1ebfu c\u00f4ng ty A v\u1edbi g\u1ea3i \u0111\u1ecbnh r\u1eb1ng c\u00e1c c\u1ed5 phi\u1ebfu n\u00e0y gi\u1ed1ng h\u1ec7t nhau.<\/p>\n

\u0110i\u1ec1u n\u00e0y l\u00e0 do c\u1ed5 phi\u1ebfu c\u00f4ng ty B c\u00f3 nhi\u1ec1u kh\u1ea3 n\u0103ng x\u1ea3y ra hi\u1ec7n t\u01b0\u1ee3ng mua b\u00f9 thi\u1ebfu, l\u00e0 k\u1ebft qu\u1ea3 c\u1ee7a hi\u1ec7n t\u01b0\u1ee3ng b\u00e1n non.\u00a0 \u00a0<\/p>\n

(Theo Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Thuy\u1ebft t\u1ed5ng kh\u1ed1i l\u01b0\u1ee3ng b\u00e1n kh\u1ed1ng (ti\u1ebfng Anh: Short-Interest Theory) l\u00e0 l\u00ed thuy\u1ebft cho r\u1eb1ng t\u1ec9 l\u1ec7 b\u00e1n kh\u1ed1ng cao l\u00e0 m\u1ed9t ch\u1ec9 b\u00e1o c\u1ed5 phi\u1ebfu s\u1ebd t\u0103ng gi\u00e1.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30641"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30641"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30641\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}