{"id":30869,"date":"2023-12-07T09:58:19","date_gmt":"2023-12-07T09:58:19","guid":{"rendered":"https:\/\/masterskills.org\/blog\/dau-co-gia-xuong-bang-quyen-chon-ban-bear-put-spread-la-gi-noi-dung-lien-quan.html"},"modified":"2023-12-23T07:23:27","modified_gmt":"2023-12-23T00:23:27","slug":"dau-co-gia-xuong-bang-quyen-chon-ban-bear-put-spread-la-gi-noi-dung-lien-quan","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/dau-co-gia-xuong-bang-quyen-chon-ban-bear-put-spread-la-gi-noi-dung-lien-quan.html","title":{"rendered":"\u0110\u00e2\u0300u c\u01a1 gia\u0301 xu\u00f4\u0301ng b\u0103\u0300ng quy\u00ea\u0300n cho\u0323n ba\u0301n (Bear put spread) l\u00e0 g\u00ec? N\u1ed9i dung li\u00ean quan"},"content":{"rendered":"
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<\/div>
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H\u00ecnh minh h\u1ecda<\/p>\n<\/figcaption><\/figure>\n

\u0110\u00e2\u0300u c\u01a1 gia\u0301 xu\u00f4\u0301ng b\u0103\u0300ng quy\u00ea\u0300n cho\u0323n ba\u0301n (Bear put spread)<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

\u0110\u00e2\u0300u c\u01a1 gia\u0301 xu\u00f4\u0301ng b\u0103\u0300ng quy\u00ea\u0300n cho\u0323n ba\u0301n<\/b> trong ti\u1ebfng Anh l\u00e0 Bear put spread.<\/b><\/p>\n

\u0110\u00e2\u0300u c\u01a1 gia\u0301 xu\u00f4\u0301ng b\u0103\u0300ng quy\u00ea\u0300n cho\u0323n ba\u0301n<\/i> la\u0300 vi\u00ea\u0323c mua s\u00f4\u0301 quy\u00ea\u0300n cho\u0323n ba\u0301n v\u01a1\u0301i gia\u0301 th\u01b0\u0323c hi\u00ea\u0323n X1, \u0111\u00f4\u0300ng th\u01a1\u0300i ba\u0301n quy\u00ea\u0300n cho\u0323n ba\u0301n v\u01a1\u0301i cu\u0300ng kh\u00f4\u0301i l\u01b0\u01a1\u0323ng va\u0300 nga\u0300y \u0111a\u0301o ha\u0323n nh\u01b0ng v\u01a1\u0301i gia\u0301 th\u01b0\u0323c hi\u00ea\u0323n X2 th\u00e2\u0301p h\u01a1n X1. D\u1ec5 th\u1ea5y chi\u1ebfn l\u01b0\u1ee3c c\u1ea7n \u0111\u1ea7u t\u01b0 ban \u0111\u1ea7u.<\/p>\n

N\u1ed9i dung v\u1ec1 chi\u1ebfn l\u01b0\u1ee3c \u0111\u00e2\u0300u c\u01a1 gia\u0301 xu\u00f4\u0301ng b\u0103\u0300ng quy\u00ea\u0300n cho\u0323n ba\u0301n<\/font><\/h3>\n
\n
<\/div>
\n

H\u00ecnh minh h\u1ecda<\/p>\n<\/figcaption><\/figure>\n

Ta c\u00f3:<\/p>\n

X1, X2: L\u1ea7n l\u01b0\u1ee3t l\u00e0 gi\u00e1 th\u1ef1c hi\u1ec7n c\u1ee7a c\u00e1c giao d\u1ecbch mua quy\u1ec1n ch\u1ecdn b\u00e1n v\u00e0 b\u00e1n quy\u1ec1n ch\u1ecdn b\u00e1n.<\/p>\n

F1, F2: L\u1ea7n l\u01b0\u1ee3t l\u00e0 ph\u00ed quy\u1ec1n ch\u1ecdn c\u1ee7a c\u00e1c giao d\u1ecbch mua quy\u1ec1n ch\u1ecdn b\u00e1n v\u00e0 b\u00e1n quy\u1ec1n ch\u1ecdn b\u00e1n.<\/p>\n

St: T\u1ec9 gi\u00e1 th\u1ef1c hi\u1ec7n h\u1ee3p \u0111\u1ed3ng quy\u1ec1n ch\u1ecdn.<\/p>\n

B\u1ea3ng k\u1ebft qu\u1ea3:<\/u><\/i><\/p>\n

\n\n\n\n\n\n\n\n
T\u1ec9 gi\u00e1 St<\/th>\nThu h\u1ed3i t\u1eeb mua
quy\u1ec1n ch\u1ecdn b\u00e1n<\/th>\n		Thu h\u1ed3i t\u1eeb b\u00e1n
quy\u1ec1n ch\u1ecdn mua<\/th>\n		T\u1ed5ng thu h\u1ed3i<\/th>\nL\u1ee3i nhu\u1eadn<\/th>\n<\/tr>\n<\/thead>\n
St <= X2<\/td>\nX1 – St<\/td>\nSt – X2<\/td>\nX1 – X2<\/td>\nX1 – X2 – (F1 – F2)<\/td>\n<\/tr>\n
X2 < St < X1<\/td>\nX1 – St<\/td>\n0<\/td>\nX1 – St<\/td>\nX1 – St – (F1 – F2)<\/td>\n<\/tr>\n
St >= X1<\/td>\n0<\/td>\n0<\/td>\n0<\/td>\nF2 – F1<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Khi l\u1ee3i nhu\u1eadn b\u1eb1ng\u00a00 ta c\u00f3 ph\u01b0\u01a1ng tr\u00ecnh\u00a0\u0111i\u1ec3m h\u00f2a\u00a0v\u1ed1n:\u00a0F1 – F2 = X1 – St*<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 chi\u1ebfn l\u01b0\u1ee3c \u0111\u00e2\u0300u c\u01a1 gia\u0301 xu\u00f4\u0301ng b\u0103\u0300ng quy\u00ea\u0300n cho\u0323n ba\u0301n<\/b><\/p>\n

Nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c quy\u1ec1n ch\u1ecdn nh\u01b0 sau:<\/p>\n

Mua m\u1ed9t quy\u1ec1n ch\u1ecdn b\u00e1n tr\u1ecb\u00a0gi\u00e1\u00a0125.000 AUD (E1 = 1,0250\u00a0USD\/AUD,\u00a0P1 = 0,0050 USD\/AUD). B\u00e1n m\u1ed9t quy\u1ec1n ch\u1ecdn b\u00e1n tr\u1ecb\u00a0gi\u00e1 125.000 AUD (E2 = 1,0240 USD\/AUD. P2 = 0,0045 USD\/AUD). C\u1ea3 hai quy\u1ec1n ch\u1ecdn c\u00f3 c\u00f9ng ng\u00e0y \u0111\u00e1o h\u1ea1n.<\/p>\n

Ta x\u00e1c \u0111\u1ecbnh t\u1ec9 gi\u00e1 h\u00f2a v\u1ed1n v\u00e0 m\u1ee9c l\u1eddi\/l\u1ed7 t\u1ed1i \u0111a c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 sau:<\/p>\n

V\u00ec E1 > E2 suy ra nh\u00e0 \u0111\u1ea7u t\u01b0\u00a0th\u1ef1c hi\u1ec7n chi\u1ebfn l\u01b0\u1ee3c \u0111\u00e2\u0300u c\u01a1 gia\u0301 xu\u00f4\u0301ng b\u0103\u0300ng quy\u00ea\u0300n cho\u0323n ba\u0301n<\/i>.<\/p>\n

a. Ph\u01b0\u01a1ng tr\u00ecnh t\u1ec9 gi\u00e1 h\u00f2a v\u1ed1n c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0: F1 – F2 = X1 – St*<\/p>\n

=> St* = X1 – F1 + F2<\/p>\n

=> St* = 1,0250 – 0,0050 + 0,0045 = 1,0245 USD\/AUD\u00a0<\/p>\n

b. M\u1ee9c l\u1ed7\u00a0t\u1ed1i \u0111a 1 AUD c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 \u1ee9ng v\u1edbi tr\u01b0\u1eddng h\u1ee3p St\u00a0>= X1<\/p>\n

F2 – F1 = 0,0045 – 0,0050 = – 0,0005 (USD)<\/p>\n

M\u1ee9c l\u1ed7 t\u1ed1i \u0111a 125.000 AUD:<\/p>\n

125.000 x (- 0,0005) = – 62,5 (USD)<\/p>\n

M\u1ee9c l\u1ee3i nhu\u1eadn t\u1ed1i \u0111a 1 AUD c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 \u1ee9ng v\u1edbi tr\u01b0\u1eddng h\u1ee3p St <= X2<\/p>\n

X1 – X2 – (F1 – F2) = 1,0250 – 1,024 – (0,0050 – 0,0045) = 0,0005 (USD)<\/p>\n

M\u1ee9c l\u1ee3i nhu\u1eadn t\u1ed1i \u0111a 125.000 AUD: 0,0005 x 125.000 = 62,5 (USD)<\/p>\n

\u01afu \u0111i\u1ec3m c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c:<\/b><\/p>\n

+ \u00cdt r\u1ee7i ro h\u01a1n c\u00e1c giao d\u1ecbch b\u00e1n quy\u1ec1n ch\u1ecdn b\u00e1n \u0111\u01a1n gi\u1ea3n<\/p>\n

+ Ho\u1ea1t \u0111\u1ed9ng t\u1ed1t trong th\u1ecb tr\u01b0\u1eddng gi\u1ea3m gi\u00e1 m\u1ed9t c\u00e1ch khi\u00eam t\u1ed1n<\/p>\n

+ H\u1ea1n ch\u1ebf t\u1ed5n th\u1ea5t \u0111\u1ed1i v\u1edbi s\u1ed1 ti\u1ec1n ph\u1ea3i tr\u1ea3 cho c\u00e1c quy\u1ec1n ch\u1ecdn.<\/p>\n

H\u1ea1n ch\u1ebf c\u1ee7a chi\u1ebfn l\u01b0\u1ee3c:<\/b><\/p>\n

– R\u1ee7i ro chuy\u1ec3n nh\u01b0\u1ee3ng s\u1edbm<\/p>\n

– R\u1ee7i ro n\u1ebfu t\u00e0i s\u1ea3n t\u0103ng gi\u00e1 m\u1ed9t c\u00e1ch \u0111\u1ed9t ng\u1ed9t.<\/p>\n

(T\u00e0i li\u1ec7u tham kh\u1ea3o: T\u00e0i li\u1ec7u m\u00f4n Thanh to\u00e1n Qu\u1ed1c t\u1ebf, \u0110\u1ea1i h\u1ecdc Kinh t\u1ebf TP H\u1ed3 Ch\u00ed Minh; investopedia.com)<\/i><\/p>\n<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n \u0110\u00e2\u0300u c\u01a1 gia\u0301 xu\u00f4\u0301ng b\u0103\u0300ng quy\u00ea\u0300n cho\u0323n ba\u0301n (ti\u1ebfng Anh: Bear put spread) la\u0300 vi\u00ea\u0323c mua s\u00f4\u0301 quy\u00ea\u0300n cho\u0323n ba\u0301n v\u01a1\u0301i gia\u0301 th\u01b0\u0323c hi\u00ea\u0323n X1, \u0111\u00f4\u0300ng th\u01a1\u0300i ba\u0301n quy\u00ea\u0300n cho\u0323n ba\u0301n v\u01a1\u0301i cu\u0300ng kh\u00f4\u0301i l\u01b0\u01a1\u0323ng va\u0300 nga\u0300y \u0111a\u0301o ha\u0323n nh\u01b0ng v\u01a1\u0301i gia\u0301 th\u01b0\u0323c hi\u00ea\u0323n X2 th\u00e2\u0301p h\u01a1n X1.\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\/30869"}],"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=30869"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30869\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}